Compliance & Risk Management

Latest Headlines

Latest Headlines

Fiduciary rules for financial advisors would spur tech spending

A proposal that would require brokers offering retirement advice to adhere to fiduciary standards would be a sea change for the financial industry, requiring increased spending on compliance and record-keeping technology, both supporters and critics say. Where opposing sides of the proposed rules disagree is on how much or even whether investors stand to benefit.

On path to becoming public, Tera Group emphasizes bitcoin derivative

Through a planned reverse merger with gaming company MGT Capital Investments, Tera Group is on track to becoming a public company later this month. The deal will give the swaps execution facility operator access to capital markets to further build its business emphasizing bitcoin derivatives trading.

RBS largely exits global investment banking

Facing another multi-billion pound loss, Royal Bank of Scotland announced that its investment bank will cut 60 percent of assets and exit most international markets.

Santander is third bank to agree to ease screening of new account applicants

Santander N.A. became the third bank to agree to loosen applicant screening for new account openings, and reports suggest more agreements will likely be forthcoming. The agreements forged with NY Attorney General Eric Schneiderman's office come as the attorney general has been investigating whether overly strict use of applicant screening technology unfairly denies low-income applicants banking services for relatively minor infractions.

First major AIFMD deadline passed with some hiccups

The first wide-ranging transparency deadlines for the Alternative Investment Fund Managers Directive (AIFMD) on Dec. 31 revealed that although the legislation aims to standardized transparency filings for alternative investment funds and their managers, processes are still far from standard. 

Industry awaits new fiduciary proposal for financial advisors

Initial feedback to news that the Department of Labor is preparing proposals for fiduciary standards for financial advisors indicated the developments will be closely watched by the industry....

Future commission merchant numbers decline

Fifteen future commission merchants exited the market as of November, according to a recent Tabb Group report. Futures and Options World put some blame on tough clearing and capital rules for...

JPMorgan's AML overhaul results in technology, process and staff changes

JPMorgan has overhauled its anti-money laundering efforts by enhancing technology, changing processes and consolidating offices.

Is Dodd-Frank killing community banks?

Recent studies lend support to an often-voiced theory in the industry that the Dodd-Frank Act would be disproportionately burdensome on community banks--with damaging consequences. A new working...

Credit Suisse exits U.S. equity retail market making

Credit Suisse is exiting U.S. equity retail market making,  Reuters reported  earlier this week, having failed to gain sufficient scale. The decision does not affect the rest of the firm's retail execution services.