Compliance & Risk Management

Latest Headlines

Latest Headlines

NetSfere emphasizes compliance, security and simplicity with cloud-based messaging platform

In the wake of financial scandals over the past few years that have seen chat room used to fix financial benchmarks, several of the largest firms have considered banning chat altogether. Yet the challenge is that in fast-paced financial markets, the immediacy of chat makes it one of the communications tools that finance professionals finds most useful.  

JPMorgan, Goldman Sachs and Morgan Stanley to collaborate on reference data

JPMorgan Chase, Goldman Sachs and Morgan Stanley have reportedly joined forces to create a company to produce scrubbed reference data. The project is currently called "SPReD" and may launch as a company in the next six to 12 months, the  Wall Street Journal reported.  

CFTC proposes clarifications on swaps reporting

The U.S. Commodity Futures Trading Commission (CFTC) voted Wednesday to propose amendments that would clarify existing regulations on swaps reporting. The proposed rules are intended to make it...

Guessing the trickle down effects of commission unbundling

In announcing this week that it has achieved the payment institution status that will enable it to offer clients a "hard dollar" solution for paying for research, Instinet said it was planning to launch the new service in response to customer demand.

UK regulator approves Instinet as payment institution, enabling more commission unbundling choices

Instinet Europe Ltd. has been approved as a payment institution by the U.K.'s Financial Conduct Authority, giving it more options in the types of commission unbundling services it can offer to clients.

Elizabeth Warren calls for closer look at Symphony

U.S. Senator Elizabeth Warren (D-Mass.) sent letters to six financial regulators this week raising concerns about whether the forthcoming communications platform from Symphony Communications Services might hinder regulatory oversight of financial firms. Symphony's platform, backed by a consortium of large finance industry firms, has been widely anticipated and is expected to launch in weeks.  

Latest development in 'internationalizing' real-time payment protocol called a major milestone

Recent progress in "harmonizing" the ISO 20022 real-time payment standard for use with international payments is being hailed as a milestone by the bodies involved in its development. A first draft of a more internationally compatible version of the standard was announced this week, resulting from work by the ISO Real-Time Payments Group, which is made up of more than 50 global experts.

Europe approves rule mandating central clearing for derivatives

The European Commission adopted new rules Thursday mandating central clearing of certain over-the-counter interest rate derivatives contracts. Phased in over three years, the mandate, which can begin in April of next year at the earliest, covers interest rate swaps with certain features denominated in euros, pounds sterling, Japanese yen or U.S. dollars.

HSBC sale of Brazilian unit tops estimates

HSBC, which has been looking to sell its businesses in Brazil and Turkey as part of a major restructuring, received a boost this week when Brazil's Banco Bradesco SA agreed to acquire the unit for 17.6 billion reais, equivalent to $5.2 billion. The purchase price, equivalent to 1.8 times book value, far exceeded analyst estimates,  Reuters reported.  

Pay gap disclosure will add transparency or cost, depending on perspective

Fulfilling one of the most controversial requirements of the Dodd-Frank Act, the Securities and Exchange Commission Wednesday adopted rule requiring companies to disclose the ratio between the amount they pay their chief executive officers and the median compensation of their employees.