Sanctions violations are increasingly risky for financial firms, given regulators' strict policies and the high costs of non-compliance. Firms must implement proactive measures, including robust screening, updated compliance frameworks, and thorough staff training, to avoid potential penalties. With global sanctions expanding, a lapse could lead to financial and reputational damage, making compliance an essential investment.
Automation
T+1: What Now?
T+1 has clearly arrived in the West, although the views on how this has impacted day-to-day processing will extend globally.
Whether industry firms have taken a tactical or strategic technological approach to covering this market change, the role of technology and the importance of having a highly modernized solution have never been greater.
So, how is technology playing a role – and what are the most important areas that we have seen come through in the transition to T+1 for market participants.
Standards
The Next Big Thing in Collateral Management: Digital Assets
The date was April 12, 2011, and U.S. banking regulators published the first draft of proposed rules governing margin requirements applicable to uncleared swaps. The Dodd-Frank Act, which passed a few years earlier, empowered these regulators with the task of creating and adopting these rules for the U.S. uncleared derivatives industry. Other global regulators would
Standards
UMAs Are Popular But They Have Reporting Challenges
What is a unified managed account also known as a UMA? In simple terms, it is a way to unify a client’s managed assets into one account. Instead of having one account for a large-cap separately managed account (SMA), another one for a fixed income SMA, and a third one housing mutual funds and exchange-traded
KYC
Turning Margining Challenges into Solutions
(Editor’s Note: In this guest post for the Bull Run, Varqa Abyaneh, chief product officer from Quantile Technologies Ltd. focuses on industry participants grappling with the costs of funding multiple margin requirements globally.) Designed to improve the safety and stability of markets, regulation inevitably increases the cost of trading. Participants are still expected to deliver
Regulation
Future Boys, Future Girls & Fortune Tellers
The future is now. Or, at least for those willing to join me to get a great glimpse of the future of finance and more, we are going there on a fantastic financial voyage. “Future Boys, Future Girls & Fortune Tellers” is where we start, but looking at the lessons of the past will guide us to
Compliance
Ready, Set, Go – Benchmark Regulation Has Arrived!
I am looking forward to my participation in the Performance Measurement Americas (PMA) 2018 panel discussion entitled “Get Ready for the EU’s Benchmarks Regulation,” which will take place March 9 at 1:50 p.m. in New York. With a certain degree of Irish humor, I’ve described this new regulation to colleagues in my firm as a “forgotten child.”
Compliance
Part 3 of MiFID II and Fixed Income: What Price Transparency?
By Jeffrey O. Himstreet, corporate counsel, PGIM fixed income law, PGIM Fixed Income Parts 1 and 2 of this blog, for Financial Technologies Forum in anticipation of their upcoming conference, Navigating the Maze of MiFID II, and our panel “New Rules for Fixed Income,” focused on the MiFID II rules relating to reporting and research unbundling
Compliance
Part 2 of MiFID II and Fixed Income: What Price Transparency?
By Jeffrey O. Himstreet, corporate counsel, PGIM fixed income law, PGIM Fixed Income (Editor’s Note: This is Part II of a three-part part series. To read Part I click here. Check back next week for part III or sign up for our news alerts to stay informed.) Transparency to Clients. The “unbundling” of research expenses from transaction
Compliance
Part 1 of MiFID II and Fixed Income: What Price Transparency?
By Jeffrey O. Himstreet, corporate counsel, PGIM fixed income law, PGIM Fixed Income (Editor’s Note: This is Part I of a three-part part series. Check back for parts II and III or sign up for our news alerts to stay informed.) As with any other reporting requirement enacted in financial services regulation anywhere in the
