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Europe’s CSDR: Fund Managers Monitor Settlement Fails

March 8, 2022 By Chris Kentouris Leave a Comment

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 […]

Filed Under: Compliance, Data, Post-Trade, Settlement Tagged With: Compliance, Data, Regulations, Standards

S in ESG Stands for Supply Chain

October 19, 2021 By Chris Kentouris Leave a Comment

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, […]

Filed Under: Compliance, Data, Investors, Regulators, Reporting, Rules Tagged With: Brokerage Operations, Compliance, Data, Fund Operations, Investment Operations, Regulations, Risk, SEC

Bloomberg’s FIGIs Win Nod From US Standards Body: Now What?

October 5, 2021 By Chris Kentouris Leave a Comment

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 […]

Filed Under: Compliance, Operations, Reporting, Risk, Standards Tagged With: Data, Regulations, Reporting, Standards

Europe’s SFDR: Shades of Green Cause Ops Headache

August 12, 2021 By Chris Kentouris Leave a Comment

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 […]

Filed Under: Compliance, Data, Investors, Regulations, Rules Tagged With: Compliance, Data, Fund Operations, Investment Operations, Regulations, Regulators, SEC

Schwab’s $1.2 M Customer Account Transfer Mistake: Now What?

April 13, 2021 By Chris Kentouris Leave a Comment

Whoops, it happened again. This time it was a software glitch that led brokerage Charles Schwab to erroneously transfer US$1.2 million from a former retail client’s account to the customer’s new brokerage account at Fidelity Brokerage Services which has left operations managers at rival brokerages scratching their heads and Schwab forced to go to court. […]

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

Rule 605 Reports: Next for Transparency Data Overhaul?

April 3, 2021 By Chris Kentouris Leave a Comment

More transparency — the mantra which has taken hold regarding Rule 606 reports — needs to make its way to Rule 605 reports, say trade execution experts and buy-side representatives who are hoping the US Securities and Exchange Commission will take action this year. US broker-dealers which forward orders to trading venues or market makers […]

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

COVID-19 Spurs Banks, Brokers to Reclaim “Lost” Assets

February 11, 2021 By Chris Kentouris Leave a Comment

The COVID-19 pandemic is prompting a shakeup in the mundane world of unclaimed property reporting operations and compliance. Instead of simply focusing only on escheating accounts of lost investors and customers to state coffers, US banks and broker-dealers are now trying to recover funds and accounts belonging to their institutions, say unclaimed property operations managers. […]

Filed Under: Compliance, Investors, Rules, Unclaimed Tagged With: Data, Regulations, Reporting, Unclaimed

SEI Loses Antitrust Suit Against SS&C; Use of Geneva Stands

January 4, 2021 By Chris Kentouris Leave a Comment

Fund administrator SEI Global Services has lost a legal battle against SS&C Technologies for violating US antitrust regulations, but it appears to have won the critical legal war necessary to ensure the fund administrator can continue using SS&C’s Advent Geneva portfolio accounting system to service its alternative fund clients. On October 23, 2020, Judge Chad […]

Filed Under: Compliance, Data, Funds, Regulations Tagged With: Data, Hedge Funds, Investment Ops, Outsourcing, Regulations, Regulators

Market Data Madness 2021: CME’s New Data Fees

December 17, 2020 By Chris Kentouris Leave a Comment

The CME Group’s decision to require redistributors to soon pay a first-time ever annual fee for its historical commodities data has pitted a group of vendors against the world’s largest derivatives exchange calling the action illegal and anti-competitive. Effective January 1, 2021, says the CME Group, redistributors of its historical commodities data will have to […]

Filed Under: Analytics, Data, Trading Tagged With: CFTC, Data, Fund Ops, Investment Ops, Investors, Regulations, Regulators, SEC, Standards

FINRA’s CAT: Customer Account Data Management Challenge

November 14, 2020 By Chris Kentouris Leave a Comment

Reporting correct customer data for the next phase of the requirements of the US Financial Industry Regulatory Authority’s Consolidated Audit Trail (CAT) system will end up being a time-consuming and costly exercise in data management for US broker-dealer regulatory reporting, trade compliance and IT managers. US broker-dealers are likely spending all their time addressing interfirm […]

Filed Under: Compliance, Regulations, Reporting Tagged With: Compliance. Brokerage Ops, FINRA, Regulations, Regulators, Reporting, SEC

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