Compliance & Risk Management

Latest Headlines

Latest Headlines

Commissioner Giancarlo proposes alternative to CFTC's swaps trading framework

Identifying a list of what he called "adverse consequences" of the Commodity Futures Trading Commission's swaps trading framework, CFTC Commissioner J. Christopher Giancarlo is proposing an alternative that he says would be more "pro-reform." Laying out his proposal in an 81-page white paper, the commissioner says a redo of the existing OTC swaps market structure would enable a system that would be more true to congressional intent and would better align with swaps market dynamics. Giancarlo discussed his paper in a keynote presentation at a TABBForum conference Thursday in New York.

Aggressive divestment puts RBS 'bad bank' goals ahead of schedule

Royal Bank of Scotland may be on pace to shed the most toxic assets in its 'bad bank' as much as one year ahead of schedule,  Bloomberg first reported.  RBS created its bad bank in January 2014, placing 28.9 billion British pounds in the unit.  

FX fallout continues

Boston Prime, a U.K. Financial Conduct Authority-registered prime brokerage, and BT Prime, a Bermuda-licensed prime broker and institutional liquidity provider, both announced they have ceased all...

ICE to change ISDAFIX calculation method next month

Reform of the ISDAFIX benchmark will take effect next month, when Intercontinental Exchange's ICE Benchmark Administration (IBA) begins transitioning the benchmark to a new calculation methodology based on tradable quotes.  

Data sovereignty, access rights key regulatory issues for cloud services users, provider says

Financial firms of all sizes grapple with the challenge of demonstrating to regulators that they have appropriate controls in place to mitigate risks to their businesses. For financial firms operating from cloud-based platforms, data sovereignty and data access rights are increasingly emerging as key issues of regulatory compliance, one provider says.

Credit union regulator pays fine for accidental examiner breach

What happens when the regulator causes the data breach? The National Credit Union Administration has agreed to pay $50,000 to cover costs for a lost thumb drive that had been handed over to one of...

Eaton Vance wins first partner for ETMFs

Eaton Vance has lined up American Beacon Advisors to be its first partner for its first-of-its-kind exchange-traded managed funds (ETMFs), Barron's reports. In November, Eaton Vance won...

Battle lines form over Dodd-Frank, Volcker rule

The White House said this week it would veto legislation currently in the U.S. House of Representatives that would scale back the Volcker rule. The legislation and the threat to veto it are the latest indications that the battles over Dodd-Frank, the Volcker rule and other financial reform legislation will become increasingly intense in the coming year, with opponents fighting to dismantle it and proponents fighting just as hard to preserve it.

BATS fined $14 million over former Direct Edge order type disclosures

BATS Global Markets has agreed to pay $14 million to settle allegations that two of the exchanges acquired in the Direct Edge acquisition misrepresented certain order types in a way that may have given some investors a disadvantage. The fine is the highest ever levied by the Securities and Exchange Commission against a stock exchange.

Man Group chooses Thomson Reuters in competitive KYC market

Man Group, one of the world's largest hedge fund providers with more than $72 billion in assets under management, has selected the Thomson Reuters Accelus know-your-customer compliance solution, giving Thomson Reuters a large win in the race to dominate the competitive KYC compliance space.