CUSIP Global Services (CGS). the U.S. national numbering agency for assigning securities identification codes to U.S. securities, and its parent FactSet Research have just been hit by a second lawsuit alleging illegal monopolistic practices. The plaintiffs in both cases contend that CGS violated the U.S. Sherman Antitrust Act of 1890 which outlaws any monopolization, attempted monopolization […]
EU’s DORA 2.0: EBA’s Third-Party Risk Management Gone Awry?
Equivalent doesn’t mean identical when it comes to the European Banking Authority’s proposal to mandate financial firms doing business on the Continent to adopt an overlapping risk management framework to the newly effective DORA for a greater number of third-party service providers. Compliance, legal, risk management and IT directors fear that following two sets of quasi-similar […]
Outlook 2026: CCOs Worry Over Supreme Court Ruling on Disgorgement
Chief compliance officers (CCOs) at U.S. financial firms need to keep a close eye this year on what the Supreme Court decides about when and how the Securities and Exchange Commission (SEC) should impose disgorgement of illegal profits from violations of securities laws. The high court’s final say on the matter could either spell a […]