New Tool Helps Firms Meet SEC Rule Confluence Technologies has unveiled “Confluence Unity Rex,” which it says is a tool that will help firms comply with the SEC’s Tailored Shareholder Reports (TSR) rule. The solution provider says that Confluence Unity Rex “mines and pinpoints discrepancies in language and numeric information between financial reports,” and that… Read More >>
Group Proposes Standards for the ‘E’ in ESG
While a major backlash is underway against investment strategies based upon environmental, social, and governance (ESG) issues, the International Sustainability Standards Board (ISSB) released in late June a proposal for global sustainability disclosure standards that could bring some clarity to investing based on environmental concerns — the “E” of ESG. If adopted, the standards will… Read More >>
CFTC Taps BNY Mellon & Franklin Templeton & Other News
Officials from Key Firms Join Digital Assets Subcommittee The CFTC recently announced that its Digital Asset Markets Subcommittee will have co-chairs from BNY Mellon and Franklin Templeton. Caroline Butler, global head of digital assets at BNY Mellon, and Sandy Kaul, senior vice president, head of digital and industry advisory services at Franklin Templeton, will serve… Read More >>
The Crypto Cowboys Must Play by the Rules
In mid-June, the state of New York stopped CoinEx, a Hong Kong-based firm, from offering its virtual currency trading platform to investors in all U.S. markets. CoinEx’s global platform helps investors buy and sell cryptocurrency via its website and mobile app. But there was a catch for its U.S. clients. The company did not register… Read More >>
Credit Suisse Unit Fined for Alleged TRACE Woes
FINRA has fined and censured Credit Suisse Securities (USA), a division of the former Credit Suisse, for reporting 9,000 late trades to the self-regulatory organization’s Trade Reporting and Compliance Engine (TRACE) and for hundreds of thousands of inaccurate TRACE reports – all of which led to other complications. The Swiss banking giant Credit Suisse, beleaguered… Read More >>
Carbon Markets Fraud Is On the CFTC’s Radar
Fraud in the burgeoning carbon credit markets is on the radar of the CFTC’s Whistleblower Office in the Division of Enforcement, which recently issued an alert asking the public to report potential Commodity Exchange Act (CEA) violations in this marketplace. The regulator notes that voluntary carbon markets “can support the transition to a low-carbon economy… Read More >>
Growth Will Cause an Ops Revamp: Survey
Asset managers by a large majority expect there will organic growth in their markets and that they will be deploying new technology to help them deal with that growth, according to a new survey conducted by Coalition Greenwich and sponsored by Northern Trust. But the survey reveals a reluctance among firms to implement large-scale redesigns… Read More >>
SEC Wins Legal Battle to Protect Binance Clients
The United States District Court for the District of Columbia has granted the U.S. Securities and Exchange Commission “emergency relief” that applies to “all the defendants in its litigation against Binance Holdings Limited, BAM Management US Holdings Inc., BAM Trading Services Inc.,” and the order states that Binance platform customers “can continue to withdraw their… Read More >>
Acadia Launches an IM Recalibration Tool & Other News
Acadia Solution Compares ISDA SIMM Versions Acadia, a maker of risk mitigation services for derivatives trading, has launched a web-based offering, dubbed IM Recalibration Analytics (IMRA), that is intended to help firms assess the impact of the new ISDA Standard Initial Margin Model (ISDA SIMM), a methodology that helps securities firms calculate initial margin for… Read More >>
PIMCO Settles Disclosure & Procedure Case for $9M
Pacific Investment Management Company LLC (PIMCO) has agreed to a $9 million settlement with the Securities and Exchange Commission (SEC) over two enforcement actions concerning alleged disclosure violations and policies and procedures woes directly related to two funds that the bond giant oversees. “In the first action, the SEC found that, from September 2014 to… Read More >>
