Compliance & Risk Management

Latest Headlines

Latest Headlines

Tullett says US DoJ wants more information on ICAP deal

Tullett Prebon has said that the U.S. Department of Justice has requested additional information and documentation related to its proposed acquisition of ICAP's global hybrid broking and information business. The DoJ request focuses on the proposed shareholding and governance arrangements between Tullett Prebon and ICAP Newco that would be in place following the deal.

UBS outsources index management to Markit

UBS has agreed to outsource the administration and calculation of its investible indices to Markit. The firm said the move to outsource index management was made in part to meet regulatory best practices.

Alternative asset managers wrestle with data management in pursuit of institutional assets

Global consulting and auditing firm PwC has predicted that the private equity industry's assets could grow to between $6.5 trillion and $7.4 trillion by 2020, from around $3.5 trillion today. A 2015 survey by the consultancy Towers Watson found that the top ten private equity managers covered in the survey saw investment from pension funds increase by 2.6 percent to $138 billion in 2014.  

Finra to increase pressure on firms to monitor suspicious trading with spoofing report cards

The Financial Industry Regulatory Authority (Finra) will step up its pressure of firms that are lagging in their oversight of potentially manipulative trading with new spoofing report cards, the independent regulatory agency announced this week. The spoofing report cards are part of a list of regulatory and examination priorities for 2016 that Finra announced Tuesday.

As portfolio compression services grow, BGC's Capitalab announces strong entry into market

BGC Partners announced that its Capitalab business eliminated more than EUR 800 billion of swaption notional through its portfolio compression business in the fourth quarter of 2015. The announcement is indicative of growing interest in automated portfolio compression in the derivatives industry.  

Industry Steering Committee issues playbook for moving US settlement to T+2 by Q3 2017

The T+2 Industry Steering Committee published a "Implementation Playbook" on Monday intended to serve as a detailed guide for helping the U.S. securities industry shorten its settlement cycle to two days post trade (T+2) from the current three-day settlement cycle, known as T+3. The industry had previously set the third quarter of 2017 as the target time by which the shortened settlement cycle should be achieved.

BAML gets Twitter to delete Business Insider journalist's tweet

A journalist was informed over the weekend that Twitter has deleted two of his tweets related to Bank of America Merrill Lynch (BAML) for copyright violations.

Barclays 'last look' fine adds to FX debate over the practice

Barclays $150 million fine from New York banking regulators last month over alleged misuse of the FX market's "last look" rule is heating up the longstanding debate about the whether the rule helps or hurts foreign exchange trading.  

LEI codes await new mandates

One of the possible side effects of the expected one-year delay in the implementation of Europe's landmark Markets in Financial Instruments Directive II, is that it may further postpone the industry's incentive to adopt legal entity identifiers as a tool for assessing systemic risk.

Cybercrime is number one market threat, CFTC commissioner says

Commodity Futures Trading Commission (CFTC) Commissioner J. Christopher Giancarlo called cybercrime "the number one threat to 21st century financial markets" in a speech in New York last...