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Global Network Management: Are My Assets Safe?

November 13, 2017 By Chris Kentouris Leave a Comment

Global network managers of custodian banks are redefining the word relationship when it comes to monitoring local agent banks that safekeep assets of underlying clients in multiple countries. It is no longer enough to make a sporadic visit or have a phone call. Global network managers have become detectives sifting through mounts of data to […]

Filed Under: Compliance, Custody, Data, Financials, Funds, Investments, Investors, Slider Tagged With: AIFMD, CFTC, Compliance, Custodians, Data, ESMA, FCA, FINRA, Regulators, SEC, UCITS

MiFID II: Proving Best Execution Is Data Challenge

September 13, 2017 By Chris Kentouris Leave a Comment

With the arrival of MiFID II, trade execution will no longer be solely the concern of the trading desk. It will take a village of compliance, operations, portfolio managers, IT managers and even website designers for financial firms to prove they have met the best execution requirements of the second incarnation of the Markets in […]

Filed Under: Analytics, Compliance, Data, Investments, Reporting, Slider, Trading Tagged With: Brokerage Ops, Compliance, Data, ESMA, FCA, Fund Ops, Investment Ops, MiFID, Reporting

Blockchain for US Settlement: Three, Two, One, Takeoff? (Update)

August 31, 2016 By Chris Kentouris Leave a Comment

(Editor’s Note: On Sept 14 itBit announced that its flagship Bankchain and other post-trade projects would be run out of a new firm Paxos with the same management. The former itBit, would be a division of Paxos, and continue to operate its crypto-currency trading platform).    If US blockchain afficionados have their way, the technology […]

Filed Under: Clearing, Innovation, Post-Trade, Risk, Settlement, Slider, Trading Tagged With: Blockchain, Brokerage Ops, Clearinghouses, Compliance, Depositories, DTCC, FCA, Innovation, Investment Ops, Matching, Post Trade, Regulators, SEC, T+2

AML De-Risking: Regulators Warn No Big Brooms

June 28, 2016 By Chris Kentouris 2 Comments

Regulators on both sides of the Atlantic are putting banks in a Catch-22 of established regulatory penalties for serving financial criminals while simultaneously warning them that cleaning house by category will attract their attention. Recent announcements by the UK’s Financial Conduct Authority (FCA) and the US Office of the Comptroller of the Currency (OCC) suggest that banks better […]

Filed Under: Compliance, Financials, Investors, Risk, Slider, Standards Tagged With: AML, Compliance, FCA, KYC, Regulators

New EU Insider Trading Rules Challenge: How to Monitor Intent?

April 12, 2016 By Chris Kentouris Leave a Comment

No harm, no foul. That is the premise of how regulators typically work when it comes to deciding whether to fine a firm for wrongdoing. However, when it comes to new European regulations prohibiting insider trading and market manipulation, that will soon no longer be the case. The new European Market Abuse Regulation (MAR), effective […]

Filed Under: Analytics, Compliance, Risk, Rules, Slider, Trading Tagged With: Compliance, FCA, Investment Ops, Regulators, Standards

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

Phone Monitoring Records: Mining for Profit?

May 29, 2014 By Chris Kentouris Leave a Comment

Three years after the UK’s Financial Conduct Authority (FCA) began requiring financial firms to record all mobile phone communications related to securities transactions, compliance remains dangerously weak. “Financial firms need to start thinking about just how they will comply and what additional benefits they can obtain for the costs involved,” says Rik Turner, senior analyst at […]

Filed Under: Analytics, Compliance, Regulations, Reporting, Slider Tagged With: Brokerage Ops, Compliance, FCA, MiFID, Swaps

State Street Fine: Mind the Transition

February 11, 2014 By Chris Kentouris Leave a Comment

When State Street Global Markets, a unit of mega custodian State Street, first acknowledged in 2011 that it had overcharged a UK pension fund client for transition management services, its public account sounded familiar. The bank did nothing wrong. Rogue employees, who violated bank policy, were to blame. They were dismissed and the client was […]

Filed Under: Funds, Operations, Slider Tagged With: Custodians, FCA, Fund Ops, Regulators

FCA Leaves Asset Owners to Self-Police Custodian Fees

January 9, 2014 By Chris Kentouris Leave a Comment

In deciding not to monitor the fees charged by UK custodians for some value-added outsourced services, the UK’s securities watchdog may have just opened a floodgate of lucrative business for third-party consultants. A new committee just established by the UK fund management trade group Investment Management Association (IMA) along with fund managers and custodians is […]

Filed Under: Financials, Funds, Operations, Ops Risk, Risk, Slider Tagged With: Custodians, FCA, Investment Ops, Middle Office Ops, Ops Risk, Regulators

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