Bosonic Hires Paddy Boyle from Goldman Sachs Bosonic, which characterizes itself as a “decentralized Financial Market Infrastructure (dFMI) business with a real-time clearing and settlement service for crypto and digital assets,” reports that Goldman Sachs veteran Paddy Boyle has joined the firm as its global head of clearing and derivatives. Boyle, an industry veteran, is… Read More >>
GSAM Buys a Robo-Advisor & Other News
GSAM to Use NextCapital for Defined Contribution Foray Goldman Sachs Asset Management (GSAM) is acquiring Chicago-based robo-advisor NextCapital Group to hasten the development of Goldman Sachs’ offerings for the defined contribution market via personalized managed accounts and digital advice, officials say. The transaction is slated to close during the second half of this year, depending… Read More >>
ASX May Delay CHESS Replacement Launch Again
A key Australian Stock Exchange (ASX) executive has announced another likely delay in the launch of the blockchain-based infrastructure that will replace the legacy Clearing House Electronic Subregister System (CHESS) due to new requirements for the core software of the platform to come. The ambitious. cutting-edge operations platform for securities transactions was slated to go… Read More >>
SEC to Scan Private Funds, ESG, Ops & More
It’s that time again. Only this go-round, pardner, there’s a new sheriff at the U.S. Securities & Exchange Commission (SEC). And he’s refocusing priorities. Yup, the SEC Division of Examinations has announced its 2022 examination priorities, which include “several significant areas of focus and many perennial risk areas. The Division will focus on private funds,… Read More >>
Senate Confirms ‘Most Diverse’ CFTC Ever
The U.S. Senate has confirmed a new slate of commissioners for the CFTC and they will write the next chapter for the regulatory agency now led by Chairman Rostin Behnam, who notes that “the CFTC has the most diverse set of commissioners in the agency’s history.” U.S. Senators Debbie Stabenow (D-Mich.), chairwoman of the U.S…. Read More >>
BNY Mellon FSI DAC Fined $12M for Regulatory Breaches
Citing 16 breaches of the regulations governing fund administration outsourcing, the Central Bank of Ireland fined BNY Mellon Fund Services DAC a total of €10,780,000 ($11.9 million), making it the largest monetary penalty to date ever imposed on a fund services provider in Ireland. “BNY DAC is the second-largest fund administrator in Ireland with just… Read More >>
Broadridge Revamps ProxyVote App & Other News
ProxyVote Updates Target Ease-of- Voting & Query Concerns Broadridge Financial Solutions has improved its ProxyVote app to help investors gain easier access to proxy information, officials say. “The enhancements make it easier than ever for investors to access and review proxy information in upcoming annual meetings of the companies and mutual funds they own, and… Read More >>
Aladdin Grants BlackRock’s Wish & Other News
BlackRock Lands $150B Mandate with AIG BlackRock’s investment management technology platform Aladdin will play a key role in the $150 billion mandate that the asset manager just signed with insurance giant American International Group (AIG), officials say. The Aladdin platform encompasses portfolio management and risk analytics. The world’s largest asset manager will oversee key AIG… Read More >>
State Street Fast Tracks Digital Asset Custody Services: Q&A
(Earlier this month, State Street Digital, part of State Street Corp., signed a licensing agreement with an institutional digital asset custody and trading infrastructure vendor, Copper.co, based in London. State Street Digital is using Copper to fast track the construction of its custody services for active cryptocurrencies and other digital assets. Those services, which are… Read More >>
First OTC Crypto Trade for Goldman Sachs & Other Briefs
Goldman Sachs Completes a Bitcoin NDO Trade Goldman Sachs and Galaxy Digital Holdings Ltd. have executed the investment bank’s first over-the-counter (OTC) cryptocurrency transaction in “the form of a Bitcoin non-deliverable option (NDO),” officials say. Galaxy, which is a global provider of blockchain and cryptocurrency financial services for institutions, reports that the transaction “marks the… Read More >>
