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  • Assessing the macro risks of Bitcoin

    The individual risks of Bitcoin and other virtual currencies have been well documented and basically fall into two categories, fraud and currency risk. In the big picture, however, experts say the risks and opportunities of virtual currencies are much harder to define.

Taking another look at treasury technology

Treasury technology might not have the allure of Google Glass. It might seem to outsiders like the quiet corner of the firm removed from flashy technology advances. But in an article that ran in bobsguide, Bank of America Merrill Lynch senior vice president and EMEA treasury specialist Des Twort argues that treasury technology is making great strides--if not right in front of our eyes, then under our noses.

PwC fined for helping bank partially cover up improper dealings

PricewaterhouseCoopers was fined $25 million by New York State's financial regulator for "improperly altering" a report on a banking client's dealings in a way that softened or obscured the client's illicit transactions. The fine is important because PwC was hired to produce an impartial review, and the incident highlights the conflict of interest issues that arise when a company pays for its own impartial assessment.

Deutsche Bank adds two top IT execs to better coordinate IT compliance

Deutsche Bank has added two new high-level executives to oversee information technology, as the bank moves to strengthen IT compliance and regulatory reporting in the wake of regulatory scrutiny.

 

Hedge funds look to codify cybersecurity preparedness as regulators step up scrutiny

The Securities and Exchange Commission held a round table March 26 to examine cyber security threats to the industry. The following month, the SEC's Office of Compliance Inspections and Examinations issued a risk alert, essentially warning the finance community about the importance of cybersecurity preparedness and outlining the agency's plans to assess the industry's preparedness.

Cantor hires two FX traders from Goldman in further FX push

Cantor Fitzgerald is continuing its push to build its foreign exchange sales and trading team with the hire of two FX traders from Goldman Sachs. The two new hires will be responsible for building out Cantor's global FX business and increasing its market making capabilities, the firm said.

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