Bank of America (BofA) veteran Marty Rose has joined Holley Holland, the self-described “business transformation experts” to build the change management consultancy’s U.S. business, including opportunities in Charlotte, North Carolina, and throughout the region, officials say. Rose, who will be based in Charlotte, has left her post as chief operating office (COO) of the EST… 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 >>
SEC Announces Promotion in Corporate Finance
The SEC reports that Michele Anderson has been promoted to associate director in the division of corporation finance. As associate director, Anderson will “oversee the work of the division’s Office of Mergers and Acquisitions and its Office of International Corporate Finance,” the agency says in a statement. “She also will be responsible for overseeing rulemaking… 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 >>
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 >>
Two Asian Hedge Funds Take Broadridge’s Platform
Broadridge Financial Solutions reports that its trading, portfolio management and operating platform has been adopted by BosValen Asset Management and Pleiad Investment Advisors, two hedge funds focused on Asia. “Both BosValen Asset Management and Pleiad Investment Advisors are among Asia’s fastest-growing emerging funds, each raising hundreds of millions of dollars within a few months of… Read More >>
FATCA Faces Lawsuit, Taxpayer Advocate’s Criticisms
As I expected, the Foreign Account Tax Compliance Act (FATCA) and its related controversies have not gone gently into that good political night. For starters, Republican U.S. Senator Rand Paul from Kentucky is part of a legal battle, filed this month via the federal court in Dayton, Ohio, against the U.S. Treasury Department and the… 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 >>
FCA Head to Step Down
U.K. regulator, the Financial Conduct Authority (FCA) reports that after four years Martin Wheatley will be leaving his post as chief executive on September 12 and will be replaced temporarily by Tracey McDermott, an executive board member and director of supervision. A search is underway for a permanent chief executive, FCA officials say. Wheatley will… Read More >>
