Compliance & Risk Management

Latest Headlines

Latest Headlines

Proposed rules for asset management reporting a mixed bag for industry

Different elements of the Securities and Exchange Commission's proposed rules for overhauling asset management reporting will likely both add and reduce costs and effort for the industry. Industry experts say it is still too early to tell how much new costs of systemic risk reporting and benefits of standardized electronic report distribution will offset each other.

KCG Holdings sees regulatory environment supporting algo growth in US and Europe

Regulatory and competitive influences that are changing the market landscape may help further support the growth of algorithmic trading, KCG's chief executive told a London audience last week.

SEC proposes rules for overhaul of asset management reporting

The Securities and Exchange Commission proposed a set of rules that SEC Chair Mary Jo White said would "modernize and augment" existing data collection from registered investment companies. The rules, which affect asset management firms including mutual funds, ETFs and investment advisors, will require the reporting of more information, more frequently, and in automated formats that the SEC will be able to analyze more quickly.

Deutsche Bank retail chief departs as firm opts to split division in restructuring

Deutsche Bank's retail banking chief Ranier Neske has resigned over a disagreement about how the bank would divest its retail banking unit as part of its major planned restructuring. News of his departure comes ahead of shareholder meeting scheduled for Thursday that is expected to be contentious as shareholders are expressing increasing frustration with lagging profits and large fines, according to multiple media reports.

Nomura joins exodus from EU and US swaps clearing

Nomura announced this week that it is exiting the clearing of over-the-counter swaps in the U.S. and EU, blaming the continuing lack-of cross-border agreement on regulations for making it too difficult to maintain profitable services. Nomura's move adds to the number of firms exiting the space.

Cross-border issues continue to plague derivatives market

Last Thursday, EU and U.S. regulators met to try to harmonize rules regarding central clearing in the derivatives market. Despite the optimistic nature of the joint statement regulators released after that meeting pledging to work toward a summer full of resolutions on issues, most reactions seemed less upbeat.

Flash crash arrest shines spotlight on market oversight

The arrest and first court appearance of accused flash-crash trader Navinder Singh Sarao have prompted many in the industry to begin to evaluate the progress that has been made in improving market...

UBS should spin off investment bank to Credit Suisse or Deutsche Bank, investor says

UBS should consider spinning off its investment bank and selling it to a competitor like Credit Suisse or Deutsche Bank, according to the president of an activist investor firm that has a stake in...

SEC investigates BofA Merrill Lynch related to manipulating retail brokerage reserves

The Securities and Exchange Commission is investigating whether Bank of America Merrill Lynch broke rules through complex trades that may have made a greater percent of retail brokerage funds...

Reference data's new role

Firms have long faced pressure to maintain clean, consistent and accurate reference data, critical for processing trades, and for managing events like corporate actions related to securities held in portfolios. A combination of regulations, technology and increasing trading volumes may be putting new pressures on reference data and in some cases changing how firms view and use it.