FinTech Innovation Lab to Help Eight Entrepreneurs Eight financial technology vendors with a range of new offerings including a know your customer (KYC) combination with distributed ledger technology, have been accepted into a 12-week mentorship program in the third annual FinTech Innovation Lab Asia-Pacific, officials say. Other startups participating in the lab are working on… Read More >>
Markit, ISDA Move to Settle EU Probe
Markit, the U.K. data provider, and the International Swaps & Derivatives Association (ISDA), an industry trade group, have offered concessions in an effort to settle a European Union antitrust investigation into possible collusion in the credit default swaps (CDS) market, according to the European Commission. The Commission is seeking feedback from interested parties on the… Read More >>
Goldman Sachs, IBM Give Their Blessings to Digital Assets
Startup Digital Asset Holdings has hit a milestone amid the frenzy for Blockchain funding as the pioneer of distributed ledger technology for financial services firms reports that it has the financial endorsement of IT giant IBM and Wall Street powerhouse, the Goldman Sachs Group, Inc., raising the total for its recent funding round to more… Read More >>
Goldman Sachs to Pay $5.2 Billion to Settle Key Cases
The Goldman Sachs Group will be writing a lot of checks during 2016 as it has agreed to separate settlements with the SEC and the Residential Mortgage-Backed Securities Working Group of the U.S. Financial Fraud Enforcement Task Force (RMBS Working Group) that will likely total approximately $5.2 billion, and will impact the firm’s bottom line…. Read More >>
Ops Gets on the Blockchain Revolution Bus
Bitcoin, a so-called crypto-currency, may fade before anyone really understands what it was or how it could actually have prevailed in financial services. However, out of Bitcoin’s ashes has risen the humbly named Blockchain technology. The distributed ledger technology that has been propping up Bitcoin has come to the attention of major industry players. This… Read More >>
Deutsche Bank Hires from Goldman Sachs for Head of New CIB Group
Deutsche Bank Appoints Head of Corporate & Investment Banking for EMEA Deutsche Bank reports that Alasdair Warren from Goldman Sachs has been named head of corporate and investment banking (CIB) in Europe, the Middle East and Africa (EMEA), effective spring 2016. CIB itself will be created by combining the corporate finance business in corporate banking… Read More >>
Ops Needs Hub to ‘Take Out Operational Risk and Cost’ of KYC
(Editor’s note: Designed for simplifying client data gathering and document management, the Clarient Entity Hub utility service of Clarient Global went live in the spring with the support of Barclays, BNY Mellon, Credit Suisse, Goldman Sachs, JPMorgan Chase and State Street. The hub targets the client onboarding and client lifecycle operations such as know your… Read More >>
Goldman Pays $1.8M to FINRA for Reporting Errors
Goldman Sachs’ clearing arm was recently forced to pay $1.8 million by the Financial Industry Regulatory Authority (FINRA) for trade reporting errors that spanned several years, a move industry observers say signals a renewed focus on this area on the part of regulators. Goldman Sachs Execution and Clearing L.P. agreed to pay in response to… Read More >>
Goldman Sachs Hit with $7M Penalty for Software Glitch
U.S. regulator, the SEC has hit investment banking giant Goldman Sachs with a $7 million penalty for allegedly violating the market access rule, “in connection with a trading incident that resulted in erroneous executions of options contracts,” officials say. An SEC investigation found that Goldman sent out roughly 16,000 mispriced options to various exchanges in… Read More >>
Goldman Sachs Invests $20.5M in Managed Services Vendor
Investment banking giant Goldman Sachs has invested $20.5 million into Perseus, a managed services provider of high-speed connectivity, giving the firm a minority stake in the vendor’s “rapidly growing global technology business,” according to a Perseus statement. The investment will help Perseus to “accelerate expansion of its global managed services network,” the report says. Founded… Read More >>
