Deutsche Bank and Credit Suisse Group struck end-of-year, billion-dollar deals with the Obama administration over cases involving toxic securities and fraud allegations, perhaps signaling the end of the era of Big Settlements. As has been widely reported, Deutsche Bank agreed to a $7.2 billion settlement with U.S. authorities while Credit Suisse is going to pay… Read More >>
Trump Moves to Fill Top SEC Post as Massad Resigns
The SEC has an official nominee for its next chairman and the head of the CFTC has just announced his resignation as President-elect Donald J. Trump fills out his administration and signals a new approach to regulation. During the U.S. presidential campaign, Trump sounded clarion a call for less regulation via the federal government. His… Read More >>
Firms Could See Stormy Weather in 2017
(In this second installment of predictions [click here to read the first installment and here for the third installment], FTF News is reviewing the predictions made about the investment outlook for 2017 and the cloud and digital technologies that may help firms cope with what will likely be an interesting year. The final story in… Read More >>
Global Markets to Brace for E.U. Regs in 2017
(FTF News is sampling the flurry of securities industry predictions that are hitting as 2017 becomes reality and 2016 starts to fade. This review of predictions will be presented in three parts this week. This is the first installment (click here for second installment and here for third installment) and it focuses on what may… Read More >>
Trump Pick Spurs Executive Shuffle at Goldman Sachs
An executive shuffle is underway at investment banking giant Goldman Sachs as Gary D. Cohn, president and chief operating officer (COO) for the firm, has agreed to become the top economic policy adviser to President-Elect Donald J. Trump. The Trump transition team and Goldman Sachs officials confirm the appointment of Cohn, and Lloyd C. Blankfein,… Read More >>
What’s on Your List of Silver Linings?
Perhaps the only consensus that we can reach is that 2016 has been a very challenging year on every front from global and presidential politics to an ongoing death march by beloved celebrities. To a large extent, elections and celebrity deaths have been set in stone by demographics, a little luck, personal choices and maybe… Read More >>
Hong Kong, Shanghai Upbeat on Trump’s Impact on Global Markets
Wall Street traders are not along in giving the thumb’s up to a new Donald Trump administration as financial services firms in Hong Kong and Shanghai while initially surprised by his victory are willing to give the real estate mogul a chance, according to a new survey. More than two-thirds of survey respondents, or 68… Read More >>
Top Officials in Key Divisions Leave SEC
In the wake of the news that SEC Chair Mary Jo White will be stepping down, other key officials of the regulator have announced their exits as the Obama administration draws to a close and President-Elect Donald J. Trump comes to power. Departures have been announced for the SEC’s division of trading and markets, the… Read More >>
Regulatory Limbo Likely as Trump Repeals Dodd-Frank
(In this second installment of a two-part series, FTF News asked the head of a New York-based financial services regulatory consulting company, Mary Kopczynski, CEO of 8of9, and her staff about the new Trump administration and its plans to dismantle the Dodd-Frank financial reform legislation. Answers from her and her team are in the Q&A… Read More >>
Broker Deploys Torstone’s Back-Office System in Four Months
U.K. Firm Wants Cost-Effective, Scalable Back Office Liberum, a pan-European investment bank, signed a multi-year deal with Torstone Technology in July to deploy the vendor’s Inferno back-office system and went live earlier this month with the new system, achieving a four-month implementation, according to Liberum and vendor officials. An employee-owned firm, Liberum offers pan-European equity… Read More >>
