Private equity giant Bain Capital is acquiring Envestnet, Inc., a provider of integrated technology, intelligent data, and wealth solutions, via a transaction valuing Envestnet at $4.5 billion ($63.15 per share), officials say. The transaction will take Envestnet private. The Envestnet platform is used by wealth management firms, registered investment advisors (RIAs), and broker-dealers. The buyout… Read More >>
The SEC Has Contingencies After Supreme Court Loss
If major media organizations even bothered to cover the U.S. Supreme Court’s 6-to-3 decision against the Securities and Exchange Commission (SEC) on June 27, the initial takeaway was that the regulatory agency suffered a massive blow to its abilities to take legal action in civil cases, particularly anti-fraud cases. But that might be too dire… Read More >>
EDGAR Now Supports IFRS, Security-Based Swap Taxonomies
The SEC has upgraded the popular public database of financial information and operations of public companies, the Electronic Data Gathering, Analysis, and Retrieval, or EDGAR, to support more industry-relevant taxonomies. EDGAR Release 24.2, released on July 1, “now supports the 2024 version of the International Financial Reporting Standards (IFRS) taxonomy and now accepts the Security-Based… Read More >>
FICC Debuts Risk Tool for U.S. Treasury Clearing
Industry players in U.S. Treasury transaction markets can now access a free, public-facing Value at Risk (VaR) calculator that will help them comply with SEC rules that will expand clearing requirements for them. The DTCC’s Fixed Income Clearing Corp. (FICC) has launched the new tool, accessible via a web browser, which provides “the ability to… Read More >>
Broadridge Buys CompSci to Add SEC Filing Features
Broadridge Financial Solutions will be expanding its range of services for regulatory filings and disclosure for public companies and funds with the acquisition of provider CompSci Resources, maker of a Web-based, collaborative platform for SEC disclosure preparation, officials say. CompSci’s Transform platform for eXtensible Business Reporting Language (XBRL) tagging and Electronic Data Gathering, Analysis, and… Read More >>
Did FX Workarounds Help Firms Get to T+1?
The foreign exchange (FX) industry has been tight-lipped since North America transitioned to a shorter settlement cycle a little over a month ago. However, more light is being shed on the operational workarounds buy-side firms deployed to meet the deadline. Though concerns about FX liquidity and pricing prior to the transition have not necessarily materialized,… Read More >>
ANNA, DTIF & GDF to Build Links to Digital Assets
The Association of National Numbering Agencies (ANNA) and the Digital Token Identifier Foundation (DTI Foundation) want to build “a strong foundation” that links traditional and digital finance through a new partnership with Global Digital Finance (GDF), officials say. The GDF is a non-profit association of member firms, which offers “an open innovation platform for advocating… Read More >>
CFTC Pays $8M to Insider Whistleblower
The Commodity Futures Trading Commission (CFTC) reports that it recently rewarded an insider whistleblower with more than $8 million for providing “significant information and assistance that led the CFTC and other agencies to bring multiple enforcement actions.” In fact, the whistleblower “helped the CFTC establish that one or more derivatives market participants deceived clients about… Read More >>
Tokenized Securities Offer Many Ops Benefits
(The digital overhaul for securities trading and operations is moving quickly to the next chapter facilitated by blockchains, cryptocurrencies, tokenization, and more. To help those working in traditional securities operations, FTF News reached out to Thomas Sullivan, managing director-head of business development for digital assets at Societe Generale. Sullivan agreed to provide explanations on the… Read More >>
SIX Launches Indices with APIs, More Choices & Packages
SIX says it had asset managers’ needs in mind with the recent launch of global equity indices that offer more data choices and pricing options, integration via Web-based application programming interfaces (APIs), and new content packages. The SIX Global Equity Indices encompasses the SIX World and the SIX Broad & Blue-Chip Indices, officials say. “The… Read More >>
