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MiFID II: Elaborate Exercise in Repapering

July 28, 2017 By Chris Kentouris Leave a Comment

The second incarnation of the European Markets in Financial Instruments Directive (MiFID II) adds a whole new meaning to the song lyric “Getting to know you” as financial firms and their clients tackle the new rules of onboarding. For financial firms the increased amount of required client data and documentation will prompt changes to their […]

Filed Under: Analytics, Compliance, Data, Investors, Reporting, Risk, Rules, Slider Tagged With: AML, Brokerage Ops, Compliance, EMIR, ESMA, FATCA, FSB, Fund Ops, KYC, MiFID, Outsourcing, Regulators, Reporting

Colorado Raises the Bar in Buyside Cybersecurity

May 19, 2017 By Chris Kentouris Leave a Comment

Banks might not be the only financial institutions needing dedicated chief information security officers (CISOs) to oversee and enforce a cybersecurity program. As FinOps Report goes to press, the  Colorado Division of Securities is set to finalize rules which, as of July 15, will make the state the first in the US to require fund managers and broker-dealers […]

Filed Under: Data, Funds, Outsourcing, Regulations, Rules, Security, Slider, Uncategorized Tagged With: Compliance, Data, FINRA, Fund Ops, Outsourcing, Regulators, SEC, Security

Global Data Protection Reg: Not Just a Tech Exercise

May 4, 2017 By Chris Kentouris Leave a Comment

Europe’s new General Data Protection Regulation, effective May 2018, will require financial firms to do a lot more than invest in technology to protect sensitive data from a cybersecurity breach or other loss. Compliance, operations,marketing, sales and even human resource managers at financial firms across the globe will need to establish the right processes and […]

Filed Under: Compliance, Data, Risk, Rules, Security, Slider Tagged With: Compliance, Data, Outsourcing, Regulators, Security

Private Equity Admin: Blockchain Revolution?

March 28, 2017 By Chris Kentouris Leave a Comment

In another entry of blockchain into a new operational realm, Northern Trust’s announcement that it has installed the first functioning blockchain for private equity funds administration has been drawing a lot of attention. Yet that’s no guarantee that institutional investors in private equity funds or other fund administrators will be enamored with the idea. say investment, operations, […]

Filed Under: Data, Funds, Innovation, Investments, Investors, Outsourcing, Slider, Trading Tagged With: Blockchain, Data, Fund Ops, Innovation, Investment Ops, Outsourcing, Post Trade

New York Tightens Screws on 3rd Party Cyber-Risk

March 8, 2017 By Chris Kentouris Leave a Comment

Out of sight doesn’t mean out of mind when it comes to following New York State’s new rigorous rules on how banks must manage cybersecurity risk. Cybersecurity information security officers (CISOs), IT directors, compliance managers, legal counsel, and vendor procurement specialists will need to work together to perform due diligence on third-party vendors, negotiate new […]

Filed Under: Compliance, Outsourcing, Risk, Risk, Security, Slider Tagged With: Compliance, Data, Outsourcing, Regulators, Reporting, Security, Standards

RegTech 2017: Taking FinTech the Extra Mile

January 16, 2017 By Chris Kentouris Leave a Comment

Those who think that RegTech is only about technology geared to meeting regulatory requirements should think again. The term, say operations consultants and IT specialists, also represents a new state of mind, oriented toward maximizing the use of current applications, eliminating unnecessary ones, and reducing data discrepancies. “Whereas financial technology, or FinTech for short, focuses strictly […]

Filed Under: Analytics, Compliance, Data, Funds, Innovation, Reporting, Risk, Slider Tagged With: Compliance, EMIR, Fund Ops, MiFID, Outsourcing, Regulators, Reporting, SEC, Standards

AML Compliance: Policing the Money Wires

October 21, 2016 By Chris Kentouris Leave a Comment

Bank compliance, technology and back-office executives will soon be faced with a lot more headaches in preventing and reporting possible money laundering and other illegal activities conducted through payments transmitted by European wire transfers. Effective June 2017, financial firms — specifically banks — will have to monitor their wire payment messages more closely and file suspicious […]

Filed Under: Derivatives, Funds, Outsourcing, Slider Tagged With: Fund Ops, Hedge Funds, Ops Risk, Outsourcing, Security

SS&C Sued by Hedge Fund for Cyber Heist

October 11, 2016 By Chris Kentouris Leave a Comment

Was incompetence, gross negligence, collusion or a  good faith mistake the reason operations executives from fund administrator SS&C Technologies authorized the transfer of almost US$6 million from a client’s commodities fund to Chinese hackers? That is the question readers of a lawsuit filed by hedge fund Tillage Commodities Fund against SS&C Technologies will likely be […]

Filed Under: Funds, Outsourcing, Security, Slider Tagged With: Hedge Funds, Outsourcing, Security

Outsourced Compliance Officers: Red Flag for SEC?

September 21, 2016 By Chris Kentouris Leave a Comment

The decision of the US Securities and Exchange Commission  to require fund managers to disclose on their Form ADV whether they have outsourced their chief compliance officer role is starting to cause some angst. Asset managers wonder if they will be targeted for additional scrutiny, only because they delegated their regulatory compliance work to an external provider. […]

Filed Under: Compliance, Funds, Outsourcing, Risk, Rules, Slider Tagged With: Compliance, Fund Ops, Outsourcing, Regulators, Reporting, SEC

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

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