With the second Trump administration coming to power in January, Gary Gensler, chair of the Securities and Exchange Commission (SEC), is unlikely to be a part of the new team. During the campaign, Trump stated that he would replace Gensler. In fact, multiple media outlets have recently reported that Trump’s transition team is searching for a replacement… Read More >>
SEC Revises ‘Living Wills’ for Clearinghouses
The Securities and Exchange Commission (SEC) is revising the “living will” for covered clearing agencies (CCAs) through rule amendments and a new rule —approved late last month — all intended to boost the resilience, recovery, and wind-down planning for CCAs, officials say. “CCAs are registered clearing agencies that act as central counterparties, meaning that they… Read More >>
E.U. Task Force Urges CSDR Adjustment for T+1
European capital markets firms are navigating a long list of regulatory changes required to enable a smooth transition to a shortened, T+1 settlement cycle, likely in 2027 and in coordination with the UK. The European T+1 Industry Task Force, comprised of 21 trade associations, outlined these regulatory changes in a recent work paper — “High-level… Read More >>
Election Results Will Impact Firms’ Sanctions Compliance
While not one of the top issues during the U.S. presidential and Congressional elections, it’s clear that two different sanctions compliance policy paths have emerged and only one will prevail on Election Day. It’s also clear that a new sanctions problem is stirring with Russia, namely its evasion of the price cap economic sanctions imposed… Read More >>
T+1 Paves the Way for Modernized Settlement
(In North America, the move to shorter T+1 settlement has helped BNY clients to refocus on the lifecycle of a trade in new ways as they strive for optimal clearing and settlement. So says Brian Ruane in a Q&A with FTF News. A member of BNY’s Executive Committee, Ruane is senior executive vice president and… Read More >>
Meradia Is the First Partner in FundGuard’s Training Program
Investment accounting platform provider FundGuard reports that Meradia, an operations and technology consultancy for investment managers, is the first participant in FundGuard’s implementation partner training program. “Meradia has been our inaugural participant for the training program and we appreciate their collaboration and feedback,” John Lehner, president of FundGuard, tells FTF News. “The training program is… Read More >>
Japanese Firm Embraces DTCC’s Post-Trade Suite
A Japanese regional bank, FFG Asset Management, is moving to “no touch” post-trade processing for equities and fixed income transactions via the services of the Institutional Trade Processing (ITP) suite from the Depository Trust & Clearing Corp. (DTCC). FFG AM, based in Fukuoka, reports that it has selected DTCC’s CTM for the centralized matching of… Read More >>
E.U. Regulators Push the Accelerator for T+1
The European Securities and Markets Authority (ESMA), the European Commission (EC), and the European Central Bank (ECB) put out a joint statement this week indicating support for a coordinated T+1 transition with other jurisdictions in the region including the U.K. and Switzerland. Despite the complex E.U. post-trade landscape, the regulatory trio stressed the urgency of… Read More >>
ESG Data, A.I. & DLT Top IT Agendas
Despite controversy and predictions of its death, principled investments based upon environmental, social, and governance (ESG) concerns are alive and kicking as evidenced by growing demands for ESG data. Also very much alive are artificial intelligence (A.I.) technologies, which could prove to be cost-effective for automated compliance and regulatory reporting, and for middle- and back-office… Read More >>
FSB Proposes Common Reporting Format for Operational Incidents
The Financial Stability Board (FSB) has released a common operational incident format intended to counter the fragmented requirements and coordination of such reporting, officials say. Recently published for consultation, the new Format for Incident Reporting Exchange (FIRE) targets financial services firms that need to effectively report operational events such as cyber incidents, officials say. FSB… Read More >>
