The New York Stock Exchange has launched the NYSE Tech Council, a group of senior technology leaders that will explore best practices for artificial intelligence, cybersecurity, and other cutting-edge technologies. “The council will be comprised of chief technology officers, chief information officers and other C-suite technology leaders from NYSE-listed companies,” according to the announcement. “With… Read More >>
Should the GAO Audit the CFTC?
Caroline D. Pham, a Commodity Futures Trading Commission (CFTC) commissioner, started the Open Meeting on May 10 with a bang — she wants the U.S. Government Accountability Office (GAO) to investigate the CFTC because she thinks the regulator has expanded its jurisdiction without a proper mandate, and, as a consequence, has strayed far from its… Read More >>
T+1 is Stealing the Spotlight from Securities Lending
(Editor’s note: This past October, the Securities and Exchange Commission adopted Rule 10c-1a in an effort to increase the “transparency and efficiency of the securities lending market,” according to the SEC. The new rule required the reporting of “specified information about securities loans to a registered national securities association (RNSA)” by 2026. The new rule… Read More >>
RIAs & ERAs Face New Regulatory Obligations
Registered investment advisers (RIAs) and exempt reporting advisers (ERAs) may have to develop customer identification programs (CIPs) to prevent “illicit finance activity” involving their customers because of a joint effort by the Securities and Exchange Commission (SEC) and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The SEC and FinCEN on May… Read More >>
Franklin Templeton & Microsoft to Develop A.I. Platform
Asset manager Franklin Templeton and Microsoft are collaborating to develop a platform for financial services that uses artificial intelligence (A.I.) technology to initially improve the productivity of the firm’s sales and marketing teams and to foster personalized services for clients. The new A.I. platform to come will use Microsoft Azure A.I. services such as Azure… Read More >>
Performance Teams Are at a Crossroads
Advances in technology and workflow management appear to be changing forever the work of performance measurement teams and how they accomplish it, according to a new white paper “In the Thick of It: How Performance Teams are Driving Value Across the Organization,” from FactSet. For instance, nine out 10 respondents to the survey — upon… Read More >>
SEC Report Offers Useful Stats On Trillions of Dollars
The SEC mostly taketh when it comes to data, regulatory forms, and ongoing reports. But every once in a while the regulator giveth as far as key data about trillions of dollars flowing through the securities industry. In particular, SEC staff has just released a new report, “Registered Fund Statistics,” that is based on “aggregated… Read More >>
FINRA Is Closely Watching for Inaccurate CAT Reporting
The controversial Consolidated Audit Trail (CAT), which has already been fending off lawsuits and industry pushback, has had “instances of millions if not billions of late or inaccurately reported order events,” says Bill St. Louis, executive vice president and head of enforcement at the Financial Industry Regulatory Authority (FINRA). The need to stay on top… Read More >>
Options & Magtia Partner for Cross-Referencing Data Platform
The new partnership between Options Technology, a capital markets trading infrastructure provider, and Magtia Ltd., a financial symbology platform vendor, will yield a cross-referencing data platform for multi-asset class content that will serve front, middle, and back-office securities operations. The partnership will result in customized application programming interface (API) connectivity combined with symbology and cross-referencing… Read More >>
Wall Street Braces for a Ban on Noncompetes
A decision by the Federal Trade Commission (FTC) rarely has multiple impacts on Wall Street securities trading institutions but a nationwide FTC ban on noncompete clauses and contracts is forcing the issue at many firms great and small. Noncompetes have become an essential aspect of Wall Street’s hiring and firing of executives, managers, and all… Read More >>
