Much has been happening in the crypto-asset space and it is difficult to sort out how much of it will become reality for financial services firms especially for operations staffs. Given this uncertainty, an emerging platform dubbed Bakkt promises to be “an open and regulated, global ecosystem for digital assets.” It has been getting attention… Read More >>
DLT Passes Canadian Tests for Ops Usage
A little over a week ago, news broke that Payments Canada, the Bank of Canada, TMX Group, Accenture and R3 have been able to show that distributed ledger technology (DLT), the ballyhooed blockchain framework at the core of Bitcoin and other crypto-currencies, has passed an initial test of its ability to facilitate equity clearing and… Read More >>
U.S. Securities Industry Spends $25B on AML Compliance
A few weeks back I focused on the fines and penalties that firms paid to government authorities for violating anti-money laundering (AML) restrictions, know your customer (KYC) requirements, and economic sanctions. This time, however, I am focusing upon the money that the securities industry spends to be AML compliant, which as it turns out, is… Read More >>
Key Swaps Rules Get SEC Spotlight
Amid the stampede to emerging and disruptive technologies, a few more Earthly matters must be resolved within the realm of securities operations. One of those matters is the final resolution of the SEC’s proposed rules and amendments that govern capital, margining, and segregation requirements for securities-based swaps. These guidelines are important to “security-based swap dealers… Read More >>
The Fed Wants Faster Interbank Settlements
The usually aloof and austere Federal Reserve Board is hinting that it may want to enter the 21st Century. A little out of the blue, the Fed has announced that it wants public input about the creation of a real-time interbank settlement system for faster payments that could affect a wide variety of financial transactions…. Read More >>
Is the U.S. Treasury Market Ready for Change?
The U.S. Treasury market could see “rapid and dramatic change” that could result in a clearing monopoly being replaced by “a more competitive European model,” according to a new report from market research firm Greenwich Associates. The report, dubbed “Invisible Frontiers: How Clearing Shapes U.S. Treasury Market Structure,” argues that “the market structure for U.S…. Read More >>
Firms Fined $26B Over the Past Decade: Fenergo
Have you ever wondered how much financial services firms have paid over the past decade in fines when they have been in violation of anti-money laundering (AML), know your customer (KYC) and sanctions regulations? Fenergo, mostly known for its client management solutions, decided to find answers to that question using “various sources, including regulatory and… Read More >>
Should ETFs Be Their Own Asset Class?
It’s no secret that exchange-traded funds (ETFs) have become quite popular as instruments that “help institutions manage their cash flow, hedge risk, gain quick exposures to illiquid market segments and more,” as market research firm Greenwich Associates has noted. But is it time for the industry to take ETFs to the next level? A new… Read More >>
Time for a Crypto Cop?
Many people have been wondering when the controversial crypto currency phenomenon will get the regulatory oversight needed to provide safeguards for investors and other participants. In the U.S., the SEC and CFTC are pursuing guidelines and enforcement actions as the crypto efforts move full speed ahead. I’m certain that the regulators would appreciate additional help… Read More >>
Cybersecurity Regulation Deadline Looming via NY DFS
In case you may need another regulatory deadline, the New York Department of Financial Services (DFS) has issued a reminder to all the organizations it oversees that they have a cybersecurity regulation deadline coming up on Sept. 4, 2018. That is the day when “the third transitional period of New York’s first-in-the-nation cybersecurity regulation ends,”… Read More >>
