Compliance & Risk Management

Latest Headlines

Latest Headlines

36 companies weigh in on how to fix the FX benchmark

Thirty-six companies, ranging from Deutsche Bank to Vanguard to CME Group and many more, submitted comments on proposed changes to the calculation of the daily FX benchmark. The Financial Stability Board, which is coordinating efforts to rework the currency benchmark in the wake of the price fixing-scandal, had given the industry until Aug. 12 to comment on proposals such as widening the amount of time it takes to calculate the benchmark and adopting alternative forms of benchmark calculation.

Confusion about data formats and models clouds European trade reporting

Phase two of European Market Infrastructure Regulation trade reporting went into effect last week but several European firms and market players expressed confusion around the specifics of how the data should be reported. The second phase of EMIR requires all over-the-counter asset classes and exchange-traded derivatives to report their daily market position and collateral values to the appropriate trade repositories.

SEC chief information officer departs

Securities and Exchange Commission chief information officer Thomas Bayer, who has led the agency's IT efforts during a period when technology issues have been at the forefront of trading...

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.  

Progress on Consolidated Audit Trail draws scrutiny

The nation's exchanges and the Financial Industry Regulatory Authority are scheduled to deliver a plan by the end of September to the Securities and Exchange Commission for the construction of a massive database that will enable the SEC to monitor markets in a high-frequency world. But plans for the database, called the Consolidated Audit Trail, are slow to get off the ground and the project is increasingly drawing scrutiny.

For advisors, going independent may pay more than retiring at the firm

A team of financial advisors from Morgan Stanley that managed $650 million in client assets has gone independent, onwallstreet reports. With assistance from consulting firm tru Independence, the team...

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.

Fixing the FX fix

As the investigations continue into the potential rigging of foreign exchange benchmarks, word is coming out that there may soon be a new payment system for executing trades at the daily currency...