FSB Reports ‘Substantial Progress’ for OTC Reforms The Financial Stability Board reports that “substantial progress” is being made via standard-setting bodies, national and regional authorities and market participants toward meeting the goals of over-the-counter (OTC) derivatives reforms set by G20 Leaders four years ago. However, the FSB would like to see greater acceptance of centralized… Read More >>
Is Wall Street Becoming a Rigged Game?
Should investors and the buy side worry that Wall Street is a rigged game? A new survey of 250 people working in financial services finds that nearly one-third of them are ethically challenged. While the sponsor of the survey, the law firm Labaton Sucharow, wants to raise awareness of its whistleblower practice, some of the… Read More >>
Is Facebook Your New Corporate Actions Data Provider?
Could social media sites become major conduits for corporate actions notifications? I’m asking this in the wake of the SEC clearing the way for public companies to use social network sites such as Facebook and Twitter for key announcements. Earlier this week, the SEC declared that social media sites are equivalent to corporate websites as… Read More >>
An Ernst &Young Exec Director Moves to eClerx as FINRA Hires Citi’s co-CIO
Former E&Y Exec Director Alan Paris Joins eClerx Business process outsourcing (BPO) vendor eClerx has appointed Alan Paris as principal for its New York office, a newly-created role, officials say. Paris will manage financial services accounts and act as global consulting lead. He will also work with the eClerx global client relationship and service delivery… Read More >>
BNY Mellon Announces Executive Promotions as Barclays Bolsters U.S. Presence
BNY Mellon Lines Up Executives for 2013 Global custodian bank BNY Mellon has announced three executive promotions, effective Jan. 1, 2013, in an effort to grow its investment management and services businesses. Karen B. Peetz, the current vice chairman and CEO of Financial Markets and Treasury Services will become president of BNY Mellon, officials say…. Read More >>
Update on Hurricane Sandy and Wall Street
NYSE Euronext, the NASDAQ Stock Market and all other U.S. markets for equities, bonds, options and derivatives will stay closed for Tuesday, Oct. 30, because of the impacts of Hurricane Sandy, a storm estimated to affect 50 million Americans across eight states, including New York. “Sandy has transitioned from a tropical to a post-tropical, or… Read More >>
Staying Out of Trouble with Social Media
Prospera Financial Services, a broker/dealer in Dallas, Texas, is using a hosted service for social media surveillance in order to stay ahead of a fast-changing market. Social media, the firm argues, deepens relationships with current clients as it appeals to younger, more tech-savvy potential customers. Yet the decision to embrace social media is not as… Read More >>
