Many hedge fund managers expect clarity will come in 2021 for a real recovery from the pandemic-induced downturn, and for how to safely return to their offices. In the meantime, they have major concerns about the impacts of remote working upon their staffs, possibly causing burnout for some of them. These are some of the… Read More >>
Firms Spending More to Counter Cyber-Attacks: Survey
The COVID-19 infection risk has impacted all parts of society, from young children in kindergarten to elders in nursing homes. The pandemic’s very real risk means that many employees have to work remotely, too, often from home and often on their personal laptops or desktop computers, which sometimes are imperfectly protected from online threats. And… Read More >>
New OCIE Team to Focus on Emerging Threats
In the wake of a pandemic lockdown, the SEC has created a small army of experts that will work with the regulator’s Office of Compliance Inspections and Examinations (OCIE) to quickly react to “emerging threats and current market events” and deliver expertise and resources to the SEC regional offices. The OCIE oversees examinations of SEC-registered… Read More >>
Temenos Applies Artificial Intelligence to Fund Accounting
Software vendor Temenos is applying artificial intelligence (A.I.) technologies to fund accounting in an effort to help its fund administration clients identify false-positive exceptions faster, which can help them reduce the number of manual interventions they need to do as part of the exception management process. To help firms better identify false positives, Temenos has… Read More >>
Asset Mispricing via the Crisis Tops Concerns: Survey
It is nearly impossible to draw useful conclusions about the effects of the economic crisis that we find ourselves in as a result of the lockdown caused by the COVID-19 pandemic. But, a month ago, the CFA Institute released the results of a major survey of its membership that points to big concerns over mispricing,… Read More >>
Social Media & Messaging Usage Exploding: Q&A
(Editor’s note: Silicon Valley-based Hearsay Systems recently appointed financial services compliance veteran Iain Duke-Richardet as compliance strategy principal. Duke-Richardet’s mandate at Hearsay includes advising the vendor’s 100+ global financial services clients about the changing regulatory landscape. He will also be helping Hearsay’s product teams “to address new complexities as a strategic advantage to firms’ digital… Read More >>
Wall Street Braces for a Safe Return
Wall Street is moving cautiously toward reopening and Monday, June 22, will serve as a milestone for when the securities industry took its first step into the new normal following a crushing pandemic that took 21,000 lives in New York City and brought the world to a halt. After three months of a pandemic lockdown,… Read More >>
Cboe Postpones Trading Floor Reopening
Cboe Global Markets has postponed the re-opening of its “South Loop” trading floor until Monday, June 15, a week later than previously announced. The reopening of the officially named Cboe Options Exchange (C1) trading floor “was previously scheduled for Monday, June 8, 2020,” according to the latest Cboe statement. “The decision to postpone the reopening… Read More >>
Jefferies Honors CFO & Donates to Coronavirus Charities
The investment bank Jefferies Group held a Global Coronavirus Relief Charity Day on Wednesday, May 27, and, on the next day, announced that it will donate $9.25 million to more than 85 charities and relief efforts focused on those suffering from the COVID-19 virus. The firm dedicated this effort to the memory of Mr. Peregrine… Read More >>
Deutsche Bank to Restart Layoffs
The COVID-19 pandemic caused Deutsche Bank to pause one of several dramatic steps to improve itself — a global layoff of 18,000 staff members — but new economic pressures are causing the German banking giant to revive its headcount reduction. The about-face is in contrast to HSBC, which recently put the brakes on a layoff… Read More >>
