Wall Street critic U.S. Senator Elizabeth Warren is attempting to focus the attention of six federal regulators on “compliance and enforcement issues related to a new communications tool created by Symphony Communications” and used by financial institutions — many of whom are backing Symphony. Warren sent letters to the regulators about her main concern that… Read More >>
CFTC Hits Morgan Stanley with $300K Penalty for Swaps Reg Violation
Morgan Stanley & Co., a registered futures commission merchant and swap dealer, will have to pay a $300,000 civil monetary penalty for failing to hold sufficient U.S. dollars in segregated accounts as regulators appear to be paying closer attention to firms missing or neglecting regulatory reporting and related requirements. The CFTC cited Morgan Stanley for… Read More >>
Five Years On, Dodd-Frank’s Ops Changes Are Here to Stay
The U.S. financial services industry — including its collective back- and middle-offices in particular — has undergone sweeping changes since the Great Recession, the vast majority of which are directly attributable to the 2010 Dodd-Frank Wall Street Reform Act. The law was contentious from the very beginning, so it’s perhaps unsurprising that opinion on its… Read More >>
Compliance Science Hires a Chief Marketing Officer
Compliance Science, a provider of governance, risk management and compliance solutions, today reports the appointment of Henry Bruce as chief marketing officer (CMO). As CMO, Bruce will be “responsible for product and corporate marketing, as well as developing messaging, positioning and sales enablement.” He will be based in the New York office and will report… Read More >>
CFTC Adds to Energy Markets Advisory Committee
The CFTC has added four associate members to the Energy and Environmental Markets Advisory Committee (EEMAC) to help the regulator as it considers rules and issues impacting America’s energy producers, utilities, consumers and hedgers, CFTC officials say. “I am pleased to welcome four new members who bring a diverse set of viewpoints to the only… Read More >>
ISDA: Regulatory Harmony Needed After Five Years of Dodd-Frank
Despite greater transparency and the reduction in counterparty risk via the Dodd-Frank Act, the next stage of reform for derivatives trading should be focused on regulatory regimes that “are consistent and harmonized across borders, and to ensure they support risk management that enables economic activity and growth,” say officials at the International Swaps and Derivatives… Read More >>
CFTC to Keep Using DTCC-SWIFT LEI Utility
Regulator CFTC has issued an order extending the designation of a utility operated by the DTCC and SWIFT as the provider of legal entity identifiers (LEIs) for the commission’s swap data recordkeeping and reporting rules, officials say. The DTCC-SWIFT utility — which had initially been referred to via the utility’s website and in educational and… Read More >>
Avox Receives ISO 27001 Certification
Avox, the DTCC’s wholly owned subsidiary specializing in legal entity reference data, reports that it has received International Standard Organization (ISO) 27001 certification from the British Standards Institution. The ISO 27001information security standard “certifies that Avox has the requisite information security controls in place to protect client data,” Avox says. “The certification is awarded only… Read More >>
Thomson Reuters Bolsters CDS Risk Service
Thomson Reuters has bolstered its credit risk offerings by adding StarMine Credit Default models to its DataScope suite, bringing together “on one platform reference data, core ratings agency data, pricing and analytics,” according to a company statement. The new StarMine Credit Default models are exclusive to Thomson Reuters and will provide data services that enable… Read More >>
RJO Takes a Hosted Leap into Recs Automation
Chicago-based futures brokerage and clearing firm, R. J. O’Brien & Associates (RJO) has gone from manual reconciliation to a hosted system that has allowed staff members to leapfrog into automation, even shrinking one process from a tedious 48-hour effort to minutes, says Jamal Oulhadj, senior managing director and chief risk officer of RJO. Since last… Read More >>
