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Industry Squeezes SEC on Sec Loan Reporting

June 14, 2022 By Chris Kentouris Leave a Comment

Wall Street continues to turn up the heat against the US Securities and Exchange Commission’s proposal for transaction reporting on securities loans, citing its contradictory analysis on short position and short activity reporting as well as potential operational shortcomings. The SEC recently reopened the comment period for its proposed securities loan reporting plan to adopt […]

Filed Under: Risk, Sec Lending Tagged With: Brokerage Ops, Compliance, Custodians, Fund Ops, SEC, Sec Lending

Chief Compliance Officers Revisit Personal Liability

February 10, 2022 By Chris Kentouris Leave a Comment

It’s all about context. That’s one key factor a group of financial service compliance professionals wants the US Securities and Exchange Commission and Financial Industry Regulatory Authority to consider when holding a chief compliance officer personally liable for the wrongdoing of his or her company’s employees. The recommendation of the National Society of Compliance Professionals […]

Filed Under: Compliance, Regulations, Rules Tagged With: Brokerage Ops, FINRA, Fund Ops, Regulators, SEC

US SEC Loan Reporting: Ops Cost of Transparency

January 18, 2022 By Chris Kentouris Leave a Comment

The operational and legal challenges of complying with the US Securities and Exchange Commission’s potential requirement to report information on securities loan transactions to the Financial Industry Regulatory Authority could outweigh the benefits of transparency to investors, say operations and legal experts. Instead of offering any feedback to the SEC’s proposal, some industry players asked […]

Filed Under: Risk, Sec Lending Tagged With: Brokerage Ops, Compliance, Custodians, Fund Ops, SEC, Sec Lending

LIBOR: Transition 1-2-3 in 2022

December 15, 2021 By Chris Kentouris Leave a Comment

Breakups can be messy and switching from the London Interbank Offered Rate (LIBOR) to alternative reference rates (ARRs) will be no exception for trading, operations, fintech, risk and compliance managers in 2022. An ounce of preparing next year can translate into a pound of preventing errors in 2023, caution LIBOR operations and legal experts who […]

Filed Under: Compliance, Regulations, Reporting, Rules Tagged With: Brokerage Ops, Compliance, Data, Fund Ops, Regulators, Reporting

Cryptomarket Rejects New Certification for Trading, Ops Execs

July 24, 2021 By Chris Kentouris Leave a Comment

Should Wall Street executives trading and processing digital securities transactions be legally required to pass licensing or mandatory in-house training programs? The answer to the question raised in a comment letter sent to the US Securities and Exchange Commission in April concerning its December 2020 framework for the custody of digital securities appears to be […]

Filed Under: Compliance, Data, Innovation, Regulations, Standards, Trading Tagged With: Blockchain, Brokerage Ops, Compliance, Crypto, Fund Ops, Hedge Funds, Regulators, SEC

Legal Experts Debate Personal Liability for Chief Compliance Officers

July 2, 2021 By Chris Kentouris Leave a Comment

Chief compliance officers need a new operating model, not a new legal framework, to avoid being personally penalized unfairly by the US Securities and Exchange Commission for regulatory infractions, say some legal experts. The New York City Bar Association’s recent framework suggesting that the SEC be more understanding of the challenges faced by chief compliance […]

Filed Under: Compliance, Regulations, Rules Tagged With: Brokerage Ops, Compliance, FINRA, Fund Ops, Regulators, SEC

Archegos Debacle Prompts Holistic Counterparty Risk Management

June 23, 2021 By Chris Kentouris Leave a Comment

The recent implosion of family office Archegos Capital Management should renew interest in counterparty risk management and the need for a holistic program, say some broker-dealer risk management experts. By JP Morgan’s estimates the fallout may have cost some prominent prime brokers, such as combined as much as US$10 billion in trading losses. Archegos’ betting […]

Filed Under: Analytics, Compliance, Data, Funds, Regulators, Risk Tagged With: Compliance, Data, Fund Ops, Investment Ops, Regulation, Risk, SEC

New FX Benchmark Aims to Save Buy-Side Big Bucks

May 20, 2021 By Chris Kentouris Leave a Comment

Are we getting the best foreign exchange conversion rate?  Pension plans and other asset owners asking their fund managers that question might hear a resounding yes, but that’s not always the case as highlighted during the COVID-19 pandemic. Not all benchmarks are created equal, according to London-based Raidne, which claims it has come up with a […]

Filed Under: Compliance, Data, Funds, Regulations, Regulators Tagged With: Brokerage Ops, Compliance, Fund Ops, Innovation

ADRs: Will Blockchain Create a Better Mousetrap?

May 10, 2021 By Chris Kentouris Leave a Comment

Unsponsored American Depositary Receipts could be a lot less expensive and more efficient for investors to own and to receive dividends and other corporate action distributions thanks to a new permission-based blockchain platform designed by RISE Financial Technologies, according to the Boston and London-based blockchain technology firm. RISE Financial predicts its new blockchain-based infrastructure, set to […]

Filed Under: Compliance, Financials, Innovation, Risk Tagged With: Blockchain, Compliance, Crypto, Data, Fund Ops, Innovation, Investors, Post Trade

SEC’s New Fund Fair Value Rule: Ops and Fintech Solutions

April 25, 2021 By Chris Kentouris Leave a Comment

The Securities and Exchange Commission’s new fair value rule for how fund managers should price some of their funds’ assets is causing fund managers and board of directors plenty of angst which can be eased though the right operational workflow and finech solutions, says Milestone Group. The SEC  in December 2020 scrapped all of its previous […]

Filed Under: Analytics, Compliance, Data, FundOps, Investors, Regulators, Rules, SEC, Valuation Tagged With: Data, Fund Ops, Investors, Regulators, Rules, SEC, Valuation

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