The U.S. Securities and Exchange Commission’s unexpected approval of a two-hour window for participants of Depository Trust Company (DTC), National Securities Clearing Corp. (NSCC) and Fixed Income Clearing Corp. (FICC) to notify the market infrastructures of a potential cybersecurity breach or other data outage has chief information security officers (CISOs) and others at U.S. broker-dealers and […]
2026: The Year of the Roth Retirement Accounts
Contributing to a Roth Individual Retirement Account (Roth IRA) or other Roth-based retirement account will be one of their top resolutions for 2026, U.S. compliance, operations and technology managers at Wall Street’s fund management firms and wirehouses told FinOps Report. The goal is to earn as much tax-free income as possible for retirement, courtesy of […]
DTCC Prepares Wall Street For New Cyberbreach Rule
Cybersecurity information security officers (CISOs) at U.S. broker-dealers and banks may soon need to overhaul their governance programs if the Depository Trust & Clearing Corporation (DTCC) has its way. US financial firms are in a logjam with DTCC’s subsidiaries, Depository Trust Company (DTC), (National Securities Clearing Corporation (NSCC), and Fixed Income Clearing Corporation (FICC), over […]
Reducing Risk of Trade Secret Theft
Have we sufficiently protected our proprietary source codes? That is the question chief compliance officers, general counsel, and technology directors at Wall Street powerhouses should know how to answer if they want to avoid the fate of Headlands Technologies LLC (HT) , a global quantitative trading firm in the midst of civil and criminal litigation involving […]
SEC’s Short Sale Reporting Rule Comes Up Short
Fund management firms, soon required to report their short sale positions with the US Securities and Exchange Commission, could end up scrambling at the last minute to make the necessary operational changes while praying the regulatory agency agrees with their interpretations of some of its unclear requirements. Buy-side firms appear to be hoping the SEC […]
US Treasuries Central Clearing: Fund Managers’ Juggling Act in 2024
US fund managers will be spending the new year preparing for the operational and legal challenges arising from central clearing of most secondary trades in Treasury cash and repurchase agreements now that the Securities and Exchange Commission has approved the phased move. The mandated switch to central clearing for many transactions in US Treasuries will […]
Europe’s CSDR: Fund Managers Monitor Settlement Fails
Operations managers at fund management firms are scrambling to improve how they monitor settlement fails and prevent penalties imposed by their custodian banks just around the corner as mandated under Europe’s Central Securities Depository Regulation (CSDR). A dozen European fund management firms,who spoke with FinOps Report on condition of anonymity, say they are spending more […]
S in ESG Stands for Supply Chain
Do you know how green your third-party service providers are? That’s the question risk and vendor procurement managers at fund management firms, banks and broker-dealers must soon answer correctly or face reputational and regulatory consequences, say legal and data experts in environmental, social and governance policies. The vendors can be anyone from a fund administrator, […]
Bloomberg’s FIGIs Win Nod From US Standards Body: Now What?
Bloomberg finally got its wish for FIGIs– acceptance of its securities ID codes as a standard– but whether that equates to popularity for trade and post-trade operations managers remains to be seen. Trade, middle, and back-office operations, and compliance managers at buy and sell-side firms can now be certain that Bloomberg’s financial instrument global identifiers […]
Europe’s SFDR: Shades of Green Cause Ops Headache
Non-green, light green and dark green. Investment, compliance, and legal managers at fund management shops who must classify their funds in one of those three categories under Europe’s Sustainable Finance Disclosure Regulation (SFDR) are finding the road to explaining how their investments are helping or harming the environment and society paved with good intentions but […]