Self-regulatory organization, the Financial Industry Regulatory Authority (FINRA) is quietly putting an expiration date of September 1, 2021, on the Order Audit Trail System (OATS) as the Consolidated Audit Trail (CAT) reaches a new level of reliability. In typical legalese, FINRA officials released the following Regulatory Notice 21-21: “Effective September 1, 2021, FINRA is amending… Read More >>
JPMorgan Asset Management Buys Campbell Global
JPMorgan Asset Management Boosts ESG Offerings JPMorgan Asset Management has acquired Campbell Global, described as “a forest management and timberland investing company,” as a way of facilitating transitions to a low-carbon economy and opportunities for those investors that want to support environmental, social, and governance (ESG) concerns, officials say. JPMorgan officials declined to disclose the… Read More >>
Time to Learn More About Open Source?
Financial services firms are using a lot of open source software but there may be a gap in their understanding of how to manage the “opportunities and potential challenges” of the open source movement, according to the Fintech Open Source Foundation, also known as FINOS. FINOS is an independent, nonprofit organization whose mission is to… Read More >>
Do Regulators Need to Clarify CCO Liability?
“Regulators, compliance officers and the investing public would all benefit from the adoption of a framework for evaluating potential cases against chief compliance officers (CCOs) in the financial sector.” So says the New York City Bar Association, which has offered a proposal for doing just that. The proposal, a follow-up to the committee’s February 2020… Read More >>
FIS Uses Machine Learning to Fight Financial Crime
FIS Partners With C3 AI for New Solutions Financial technology systems and software provide FIS has unveiled the first in a series of solutions that uses artificial intelligence (A.I.) to help capital markets firms fight the increasing threat of financial crime, officials say. FIS developed these new offerings with C3 AI, and the AML Compliance… Read More >>
Gresham Will Globalize Clareti & Electra: Q&A
(Editor’s Note: Late last month, Gresham Technologies announced that it was acquiring Electra Information Systems for $38.6 million. The acquisition is slated to become official on June 22, and both vendors say it will help transform the market landscape for reconciliation and cloud-based data control. FTF News got time with Ian Manocha, CEO at Gresham, and… Read More >>
Top Banks Test Drive Intraday FX Swaps Platform
Tests Involve DLT & Non-DLT Technology NatWest Group, Deutsche Bank, Bank of Ireland, and Banca Mediolanum have been working with treasury teams at other large banks to test a platform for intraday foreign exchange (FX) swaps trading that involves distributed ledger technology (DLT) and non-DLT systems, officials at Finteum say. “The banks’ initiative to create… Read More >>
Why the World Needs Wall Street: SIFMA
While many politicians and others slam Wall Street, the securities industry advocacy group SIFMA wants to remind everyone that the engine that is the financial services industry will be a key component of the post-pandemic recovery and growth for all sectors of the U.S. economy and will spur positive ramifications across the globe. To make… Read More >>
Should the SEC Become a Crypto Cop?
The Securities and Exchange Commission (SEC) may be taking on more oversight of the cryptocurrency trading world as there are many troubling regulatory gaps, says SEC Chair Gary Gensler in testimony May 26 before the subcommittee on financial services and general government, which is part of the U.S. House Appropriations Committee. In testimony that covered… Read More >>
SimCorp & JPMorgan Partner to Ease Ops Integration
A new collaboration between SimCorp and JPMorgan’s Securities Services group is intended to help their mutual clients share intraday and multi-asset data — a key part of a new effort to bring interoperability and transparency to SimCorp’s systems and the investment bank’s pre-trade, post-trade, trading, and treasury solutions. This tighter integration between front-and-middle office operations… Read More >>
