SEC

SEC to Fund Admins: No Proof, No NAV

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The US Securities and Exchange Commission has just warned fund administrators they can’t take the word of a fund manager when calculating the net asset value (NAV) of an investment fund. When explaining its recent US$561,000 fine against Gemini Fund Services, the US regulatory agency says that when assigning an NAV to a mutual fund, […]

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FINRA to Broker-Dealers: Are You Liquid Enough?

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Risk and financial reporting managers at clearing firms and large broker-dealers could soon have to recode their back office systems and establish new procedures.  Why? To quickly inform the Financial Industry Regulatory Authority (FINRA) whether they have a liquidity problem and report a lot more information about their financing deals. The self-regulatory agency for broker-dealers […]

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FINRA to Broker-Dealers: Justify Order Routing Perks

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Brokerage compliance managers might have to scale back their holiday plans. The US Financial Industry Regulatory Authority (FINRA) is revisiting broker-dealer order routing, and it wants answers by the end of this month. Last month, the self-regulatory agency for broker-dealers sent an undisclosed number of broker-dealers a request for detailed information on how they quantify […]

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Global Network Management: Are My Assets Safe?

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Global network managers of custodian banks are redefining the word relationship when it comes to monitoring local agent banks that safekeep assets of underlying clients in multiple countries. It is no longer enough to make a sporadic visit or have a phone call. Global network managers have become detectives sifting through mounts of data to […]

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Form N-PORT: Managers Report Big Stress

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Middle-office operations managers, compliance managers, and technologists preparing for the US Securities and Exchange Commission’s new reporting rules for registered funds are still having trouble figuring out to complete the new more detailed Form N-PORT. Annoyance, anxiety and outright anger are some of what they are feeling, they tell FinOps Report. Their antidote: keep plugging […]

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Mirror Trading: New Focus on Potential AML Violations

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When it comes to following anti-money laundering regulations, global banks typically pay the closest attention to identifying their clients and payment transfers. However, in preventing regulatory fines, monitoring mirror trading activities may be just as important for trading and AML compliance managers. So warn AML compliance experts who point to Deutsche Bank’s US$600 million fines […]

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Mirror Trading: New Focus on Potential AML Violations

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When it comes to following anti-money laundering regulations, global banks typically pay the closest attention to identifying their clients and payment transfers. However, in preventing regulatory fines, monitoring mirror trading activities may be just as important for trading and AML compliance managers. So warn AML compliance experts who point to Deutsche Bank’s US$600 million fines […]

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Alt Fund Managers: What Needs to Be Fixed Before the SEC Exam

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Hedge fund and private equity fund managers top the list of firms having the most angst, when it comes to worrying about passing an exam  by the US Securities and Exchange Commission. They also are likely to have the the most work preparing for an exam. A recent survey of C-level executives conducted by compliance […]

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Alt Fund Managers: What Needs to Be Fixed before the SEC Exam

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Hedge fund and private equity fund managers top the list of firms having the most angst, when it comes to worrying about passing an exam  by the US Securities and Exchange Commission. They also are likely to have the the most work preparing for an exam. A recent survey of C-level executives conducted by compliance […]

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Countdown to US T+2: Five Last Minute Tips

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It’s now or never when it comes being ready for the pending two-day settlement cycle in the US. With September 5, the day T+2 becomes effective, just around the corner, operations and IT managers are taking the opportunity to verify that their front, middle and back office systems are tweaked correctly. And that their counterparties […]

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