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Love Taxes, Operations: Be a Tax Ops Director

January 10, 2018 By Chris Kentouris Leave a Comment

Knowledge of processing 1099 Forms, cost basis-reporting, Internal Revenue Service Section 871(m), financial transaction taxes and corporate actions, FATCA, and issues and errors management. Over ten years of corporate tax compliance experience necessary. Those are just some of the qualifications that large global asset servicing providers — Societe Generale, BNP Paribas and JP Morgan — […]

Filed Under: Compliance, Corporate Actions, Reporting, Slider, Tax Tagged With: Compliance, Custodians, Dodd-Frank, FATCA, KYC, Regulators, Reporting, Tax

Compliance Officers: Uniform CFTC and SEC Rules?

June 2, 2017 By Chris Kentouris Leave a Comment

What possible difference could a few words make? Apparently a lot for chief compliance officers of large swap dealers, fund managers, and clearing firms. They must be breathing a sigh of relief now that the Commodity Futures Trading Commission has proposed to harmonize the rules for CCOs with those of the Securities and Exchange Commission. […]

Filed Under: Compliance, Derivatives, Reporting, Rules, Slider Tagged With: Brokerage Ops, CFTC, Compliance, Derivatives, Dodd-Frank, Regulators, Reporting, SEC, Swaps

Fund Managers Outsource More Mid-Office Ops

September 2, 2016 By Chris Kentouris Leave a Comment

Gone are the days when the middle office is maligned as being strictly a cost-center dragging down investment performance. Today more fund managers are concluding that more effective management of their middle office can not only reduce operating expenses, but also give them a competitive edge with investors and keep regulators at bay. Fund management […]

Filed Under: Outsourcing, Post-Trade, Reporting, Risk, Settlement, Slider Tagged With: AIFMD, Compliance, Dodd-Frank, Fund Ops, Hedge Funds, Middle Office Ops, MiFID, Ops Risk, Outsourcing, Post Trade, Reconciliation, Regulators, Reporting, SEC, Settlement, Standards, T+2

Fund Managers to SEC: Change DTCC, ICE Swaps Rules

August 17, 2016 By Chris Kentouris Leave a Comment

Fund managers are asking the Securities and Exchange Commission to force Depository Trust & Clearing Corp. and ICE to adapt their rulebooks to match their limited reporting responsibilities for security-based swap transactions. The Asset Management Group (AMG) and Investment Company Institute (ICI) say that the DTCC’s Trade Repository and the ICE Trade Vault have overstepped the […]

Filed Under: Clearing, Compliance, Derivatives, Funds, Post-Trade, Reporting, Slider Tagged With: Clearinghouses, Compliance, Depositories, Dodd-Frank, DTCC, Fund Ops, Post Trade, Reporting, SEC, Swaps

The Volcker Rule: Managing the Seven Deadly Metrics

July 30, 2015 By Chris Kentouris Leave a Comment

The implementation of the Volcker Rule has undoubtedly caused wailing and gnashing of teeth among some of the smartest and best-funded trading operations in the world. While its overarching principle — the prohibition of proprietary trading — might be easy to understand, proving compliance is a whole different ball of wax. With the effective date […]

Filed Under: Analytics, Compliance, Reporting, Risk, Rules, Slider, Standards, Trading Tagged With: Brokerage Ops, Compliance, Dodd-Frank, Investment Ops, Standards

Reporting Security-Based Swaps: Dissent Brews with SEC

June 11, 2015 By Chris Kentouris Leave a Comment

Security-based swaps might comprise a small fraction of the entire multi-trillion dollar over-the-counter derivatives market, but that’s little solace to operations, IT and regulatory specialists who will eventually have to follow the Securities and Exchange Commission’s rules on reporting transactions in these contracts to a swap data repository (SDR). Just who must do the reporting, […]

Filed Under: Clearing, Compliance, Derivatives, Reporting, Slider Tagged With: CFTC, Compliance, Dodd-Frank, Reporting, SEC, Swaps

OTC Derivatives: The Identifier Debate Heats Up in Europe

May 21, 2015 By Chris Kentouris Leave a Comment

As over-the-counter derivatives emerge from the shadowed status of private bilateral contracts into the relative sunlight of clearinghouse operations and regulatory reporting, there is a war heating up about a brand new problem — how these deals will be identified. Stocks, bonds, exchange-traded derivatives and other financial instruments are all regularly assigned unique codes that […]

Filed Under: Derivatives, Reporting, Slider Tagged With: Clearinghouses, Compliance, Data, Depositories, Dodd-Frank, EMIR, ESMA, MiFID, Reporting, Standards

Outsourced Collateral Management: A Calculated Choice

May 15, 2015 By Chris Kentouris Leave a Comment

When it comes to collateral management for fund managers, why not let someone else do the work? Considering the cost and administrative burden of this complex processing function, outsourcing sounds like a great idea. There are certainly some mega custodians and other managed service experts only too willing to help out. However, in this apparent […]

Filed Under: Analytics, Compliance, Outsourcing, Reporting, Sec Lending, Slider Tagged With: Dodd-Frank, EMIR, Fund Ops, Investment Ops, Regulators, Reporting

News to Use: Whistleblower Update, Lending vs. Voting, and New TA Utility

April 13, 2015 By Chris Kentouris Leave a Comment

SEC Chills Pre-taliation: The Securities and Exchange Commission’s enforcement of rules against whistleblower retaliation has just taken another giant step forward with the US regulatory agency’s first announcement it has penalized a firm for restrictive language in an employment agreement. Although the US$130,000 fine was against KBR Inc., not a financial services firm, attorneys specializing […]

Filed Under: Compliance, Corporate Actions, Funds, Reporting, Rules, Sec Lending, Slider, Technology Tagged With: Compliance, Corporate Actions, Dodd-Frank, Fund Ops, Hedge Funds, Outsourcing, Regulators, Reporting, SEC

Fund Managers: Fixing EMIR Reporting Glitches

April 8, 2015 By Chris Kentouris Leave a Comment

Now that more than a year has passed since they’ve had to deal with new reporting requirements under the European Market Infrastructure Regulation (EMIR), fund managers are belatedly waking up to the fact they could soon face whopping regulatory fines for not submitting correct data on their derivative transactions to accredited trade repositories. Regulatory operations […]

Filed Under: Compliance, Data, Derivatives, Margining, Reporting, Slider Tagged With: Brokerage Ops, Collateral, Compliance, Depositories, Dodd-Frank, DTCC, EMIR, FCA, Fund Ops, Hedge Funds, Regulators, Reporting

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