Vendors to Target Global Compliance for Social Media Actiance, a digital compliance, archiving, and analytics vendor, has signed a global partnership with Hootsuite, a social media management platform provider, to offer a comprehensive compliance solution for financial services firms. The partnership will combine Hootsuite’s platform with Actiance’s Socialite offering for compliance across public social… Read More >>
Senate Confirms Trump’s Pick for SEC Chairman
Despite opposition from some key Democrats, the U.S. Senate voted on Tuesday to confirm Walter J. “Jay” Clayton III, a former partner with the law firm Sullivan & Cromwell, as the next chairman of the SEC, succeeding Mary Jo White. White served as chair from April 2013 to January 20, 2017 when Donald Trump became… Read More >>
FINRA Wants to Rewrite Capital Formation Rules & Requests Comment
The Financial Industry Regulatory Authority (FINRA), as part of a review of its own operations and programs — the FINRA360 initiative — is calling for comment on three of its proposed rules related to the capital formation process. One of those proposed rules focuses on the capital-formation processes of its member firms, “with the others… Read More >>
Has Your Firm Been ‘Spoofed?’
(Editor’s Note: Digital Age market manipulation via practices known as “spoofing” and “layering” are hitting home for many firms and regulators are beginning to take notice. For instance, the Financial Industry Regulatory Authority (FINRA) and major exchange companies recently alleged that the broker-dealer, Lek Securities, and its CEO facilitated acts of layering, spoofing and cross-product… Read More >>
Lek Securities Charged with Aiding Fraud via Client
Lek Securities and Samuel F. Lek, CEO of the firm, are facing charges that they facilitated manipulative trading by one of its customers, dubbed “Avalon.” The charges are being brought by the self-regulatory organization Financial Industry Regulatory Authority (FINRA) in conjunction with the New York Stock Exchange, NYSE Arca, NYSE MKT; four Bats Exchanges (Bats… 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 >>
Fenergo to Hire 200 People to Support Global Growth
Fenergo to Recruit Over Next 12 to 18 Months Fenergo, the Dublin, Ireland-based client lifecycle management software solutions provider, is creating 200 jobs “due to rapid global expansion, bringing its total global employee base to 500,” according to the vendor, which serves investment, corporate and private banks. The vendor will be filling positions are across… Read More >>
FINRA Pushes to Streamline Competency Exams
The Financial Industry Regulatory Authority (FINRA) reports that it has filed a proposal with the SEC to “streamline competency exams and facilitate opportunities for professionals seeking to enter or re-enter the securities industry.” Currently, “individuals who work for a FINRA-regulated firm in various capacities” are required by FINRA rules to pass specific exams. “These individuals… Read More >>
Colt Technology Services Names VP of Capital Markets
Colt Hires from BT Global Services Colt Technology Services, which provides on-demand services to the financial markets reports that Andrew Housden has joined as vice president of capital markets, reporting to Tom Regent, Colt’s chief commercial officer. He will be responsible for growing the capital markets vertical, Colt says in a statement, and will be… Read More >>
SEC Freezes Broker’s Accounts in Insider Trading Scheme
The SEC reports that it has secured an emergency court order freezing the brokerage accounts of Shaohua (Michael) Yin, who is accused of holding $29 million in “illegal profits from insider trading in advance of the April 2016 acquisition of DreamWorks Animation SKG, Inc. by Comcast Corp.” Yin is a Wharton Business School graduate with… Read More >>
