SEC

Reporting Security-Based Swaps: Dissent Brews with SEC

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Security-based swaps might comprise a small fraction of the entire multi-trillion dollar over-the-counter derivatives market, but that’s little solace to operations, IT and regulatory specialists who will eventually have to follow the Securities and Exchange Commission’s rules on reporting transactions in these contracts to a swap data repository (SDR). Just who must do the reporting, […]

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When Buying Cybersecurity Insurance: Caveat Emptor

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The theft of personal details of millions of individuals in a U.S. government database might sound shocking, but it really isn’t given the latest stream of well-publicized hacking events in the retail, financial and insurance industries. Neiman Marcus, eBay, Home Depot, JP Morgan Chase, Sony and Anthem are among the high-profile casualties. Given that a cyber […]

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New Mutual Fund Reporting Rules: New Operational Angst

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If US mutual funds and other registered investment funds feel relief they have been spared from the cumbersome rules for systemically important financial institutions, they may not for much longer. Hefty new disclosure requirements are on the horizon, if the US Securities and Exchange Commission has its way. Although the SEC is seeking industry input before […]

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SEC Proposes Rules to Modernize and Enhance Information Reported by Investment Companies and Investment Advisers

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Washington D.C., May 20, 2015 —

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Want to Price Shares Late: Get the Post Office to Help Out

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US mutual fund complexes are supposed to give investors who buy and sell shares the price of the shares on the day they receive their orders. So says the US Investment Company Act of 1940. But insurance giant Nationwide Insurance found a creative way of not doing so. It didn’t have to rely on technology, […]

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News to Use: New AML Technology, Bitcoins and Hedge Funds

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AML Tech Upgrade: To avoid doing business with the wrong customers and counterparties, financial firms can now rely on a new generation of software applications that go beyond traditional rules-based screening to far more sophisticated data analysis, says a new research report from Celent. The costs of not complying with anti-money laundering rules can be […]

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News to Use: SEC, Omgeo and OpsCheck

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Another SEC Cybersecurity Reminder: Fund managers have just received a few pointed suggestions from the Securities and Exchange Commission’s Division of Investment Management on just how they should monitor their cybersecurity risk. Although the new guidance doesn’t carry the force of a rule, it does put fund managers on alert for what the SEC will be looking […]

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US T+2: Getting Rid of Paper Certificates

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Will the US finally go paperless? When it comes to issuing certificates that evidence share ownership, that is. This is the hope of Depository Trust & Clearing Corp. (DTCC), transfer agents and other industry participants, now that a two-day settlement cycle could be just around the corner for the US. For more than a year they […]

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News to Use: Whistleblower Update, Lending vs. Voting, and New TA Utililty

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SEC Chills Pre-taliation: The Securities and Exchange Commission’s enforcement of rules against whistleblower retaliation has just taken another giant step forward with the US regulatory agency’s first announcement it has penalized a firm for restrictive language in an employment agreement. Although the US$130,000 fine was against KBR Inc., not a financial services firm, attorneys specializing […]

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