(Editor’s note: In this Q&A, Steve O’Hanlon, CEO of Numerix, reviews some key trends and events of 2016, and looks forward to the rest of this year and beyond. For the road ahead, O’Hanlon foresees a lot of regulatory uncertainty, which will complicate many matters. Numerix won the Best Pricing or Valuation Solution award of… Read More >>
EC Proposes Lighter Regulatory Load for Derivatives
The European Commission’s recently proposed changes to the European Market Infrastructure Regulation (EMIR) not only makes the legislation “simpler and more proportionate,” but also aims to lift some of the compliance burden on smaller financial services firms, corporates and pension funds. The amendments cover a broad range including streamlined reporting obligations, improvements to the quality… Read More >>
Deutsche Bank’s NYC Lab to Explore AI & Cybersecurity
Deutsche Bank officials have opened an innovation lab in New York City that they say is their fourth globally, and will be focused on several IT areas including artificial intelligence (AI), cloud technology and cybersecurity. The lab is located in Lower Manhattan’s Fulton Center and will enable the bank to “access a leading innovation ecosystem… Read More >>
Regulatory Limbo Likely as Trump Repeals Dodd-Frank
(In this second installment of a two-part series, FTF News asked the head of a New York-based financial services regulatory consulting company, Mary Kopczynski, CEO of 8of9, and her staff about the new Trump administration and its plans to dismantle the Dodd-Frank financial reform legislation. Answers from her and her team are in the Q&A… Read More >>
New Rules Clarify Security-Based Swaps Reporting
The SEC reports that it has adopted “new rules and guidance … designed to increase transparency in the security-based swap market.” The additional rules, proposed by the SEC’s division of trading and markets as amendments to existing SEC rules intended to implement mandates under Dodd-Frank’s Title VII, are “related to rules regarding the regulatory reporting… Read More >>
Elizabeth Warren, Others Push for Derivatives Overhaul
U.S. Senator Elizabeth Warren (D-Mass.) and two other Democrats in Washington, D.C. are proposing sweeping legislation governing derivatives that includes authorization for the CFTC to collect user fees from financial services firms to cover its budget in a way similar to fees collected by the SEC. Industry observers, however, counter that if those fees are… Read More >>
Time for a CFTC User’s Fee?
Would it really be such a bad idea for the CFTC to charge a user’s fee? That issue may wind up being a spinoff from a bill put forth late last month by the Wall Street lightning rod U.S. Senator Elizabeth Warren (D-Mass.) with the support of Mark Warner (D-Va.), and Congressman Elijah Cummings (D-Md.)…. Read More >>
House Financial Services Chair Offers Plan to Gut Dodd-Frank
The Republican chairman of the House Financial Services Committee, Texas Congressman Jeb Hensarling, has unveiled a plan to repeal the Dodd-Frank Act, which he has called a “grave mistake,” and replace it with the Financial CHOICE Act. CHOICE, in the Hensarling plan, is an acronym for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs…. Read More >>
EU Firms Face Tight Deadline for MAR Compliance
The clock is ticking away for the Market Abuse Regulation’s (MAR) July 3 start date but there is still uncertainty about the final edict. The European Securities and Markets Authority (ESMA) has only just released its Q&A guidance and is expected to publish a final report by early Q3 2016, which is cutting it close…. Read More >>
CFTC Wants a Game-Changer for Swaps Data Reporting
The CFTC is working hard to refine the swaps data reporting process and hopes that those changes and subsequent data harmonization internationally will be a game-changer for the derivatives industry, reports Petal Walker, chief counsel for CFTC Commissioner Sharon Bowen. Walker, who spoke at FTF’s DerivOps North America conference in Chicago last month, says that… Read More >>
