This week I came across an article in Wall Street & Technology that discussed GRC and the need for firms to implement technology in efforts to increase their automation and increase their control over risk and compliance. With GRC being a topic that will be discussed at our 5th Annual OpRisk Conference, scheduled for Wednesday,
Compliance
Social Media without the Compliance Headaches
Guest Contributor: Stephen Marsh, CEO & Founder, Smarsh, Inc. A number of registered firms have prohibited the use of LinkedIn, Facebook, Twitter and other social networks due to the perceived compliance complexities, and this isn’t anything new. According to a survey of financial professionals conducted last year by American Century Investment, 47 percent of respondents
Compliance
What Will it Take to Stay Compliant in 2011?
Thomson Reuters Governance, Risk and Compliance just completed its 2nd annual ‘Cost of Compliance’ survey for 2011. The verdict: 71% of the firms surveyed predict it will cost them a great deal in money, resources and time (but really time is money!) in order to be compliant with regulators this upcoming year. This survey not
Compliance
Bringing Security to Social Media
Let’s face it, social media is big. And by the looks of it, I would say, it’s only getting bigger. But social media has presented many new challenges for the financial services industry, especially in the area of security and compliance. In response to these challenges FINRA released Notice 10-06 which detailed regulatory guidelines related
Clearing and Settlement
Achieving Operational Efficiency and Automation by Making New Friends
Recently we have seen financial technology providers joining forces with each other in order to create better solutions and processes that will keep financial institutions compliant with the new regulations we all face. Just last week, we saw the DTCC, MarkitSERV and AcadiaSoft join together to streamline OTC derivatives processing, and this week another new
Compliance
Streamlining to Achieve Transparency in the New OTC World
Ever since the passing of the Dodd-Frank bill, companies have been thinking about (or at least they should be thinking about) how they will come up with a cost effective solution to keep them compliant under the new regulations. Many software providers have been trying to work out these solutions on their own in order
Compliance
Combining Forces Across the Exchanges in 2011
FINRA is making a New Year’s resolution to catch more insider traders in 2011 by revamping their market surveillance methods and data operating systems. Currently, FINRA oversees multiple exchanges where 80 percent of all U.S. trading occurs. Each exchange, such as the NYSE, NASDAQ and so on, has its own operating database that stores trade-related
Cloud
Small Firms are Riding the Cloud to Better Social Media
For the time being small firms are making the most of the new social media outlets. Due to compliance policies, or the lack thereof, larger firms are unable to spread their firm’s name and/or their specific expertise through any blog posts or a ‘tweet’ here and there. So the small firms (around 25 people and
Compliance
Insider Trading – A New Trend?
“Illegal insider trading is rampant and may even be on the rise,” said U.S. Attorney Preet Bharara in his recent interview with the New York Times. Throughout this past week the news has been scattered with reports claiming that a large insider trading investigation is reaching a close and that Wall Street should expect arrests
Back-Office
SEC Proxy Access Rule Challenged
The SEC is making headlines yet again. Last week they were in the news for the careless manner in which they handled the Madoff investigations, and they are back again this week getting sued by the 2 largest business lobbying firms in the country. us chamber of commerceThe U.S. Chamber of Commerce and the Business
