(Editor’s note: In a companion piece to this story, FTF News explores how the FS-ISAC, a financial services cyber threat-sharing group, is automating the sharing of threat information across the financial sector. Read about it here.) The massive cyber-security breach at JPMorgan that compromised gigabytes of sensitive data is dialing up the “fear, uncertainty and… Read More >>
Aite: Firms Need Better Client Reporting
Improving client reporting capabilities is near the top of many wealth management firms’ to-do lists, and if it’s not, according to two recent reports by market research firm Aite Group, it should be. The new reports “Client Reporting in Wealth Management: An Advisor Perspective” and “Client Reporting in Wealth Management: A Vendor Review,” indicate that… Read More >>
Averting Deutsche’s Regulatory Reporting Woes
Long-term and wide-ranging problems with Deutsche Bank’s regulatory reporting processes have to come to light in a stern letter from the Federal Reserve Bank of New York (FRBNY) instructing Deutsche, in no uncertain terms, to immediately fix the problems identified. The letter and the scope of the problems it describes underscore both the challenges financial… Read More >>
SEC to Probe 44 Firms for Insider Trading
The number of hedge funds, asset management and other investment firms under suspicion in a SEC insider-trading probe involving an alleged Congressional tip-off recently expanded to 44, giving it the potential to become the largest insider-trading case of all time. The probe, which involves “some of the largest hedge funds and asset management advisers in… Read More >>
Upheaval Coming for Asset Managers’ Back Offices
The global asset management industry is at a crossroads. In order for firms to move forward in a shifting macro environment, according to three new reports, they’ll need to look backward — to the back office. Each of the reports has a slightly different focus, but all three conclude that many asset managers will be… Read More >>
Special Report: Surviving the Phenomenon of FATCA
No matter how hard financial services firms try, they cannot avoid the reach of the Foreign Account Tax Compliance Act (FATCA), a law meant to curtail offshore tax evasion. In this 15-page, in-depth report, FTF News explores the complexities of meeting the FATCA deadlines and the demands of the IRS even as the government provides… Read More >>
Aite: Client Reporting Needs a Refresh
Client reporting platforms need to change along with the trends in the securities industry by providing “more extensive, in-depth, flexible and reliable” reports, according to findings from market research firm Aite Group. The report, “Stand-Alone Client Reporting Platforms for the Institutional Market: Beyond the Basics,” says customized and high-quality client reporting has become more important… Read More >>
Aite Reports on GRC Tools Market
Securities firms have to impress upon employees the necessity of good governance, risk, and compliance tools that can help restore trust among clients, according to a new report from market research firm Aite Group. However, firms will have to find GRC support systems in a highly fragmented market, researchers say. “To meet regulatory obligations and… Read More >>
Recs Technology Hits Its Stride in Europe
Virginie O’Shea, a senior analyst for market research firm Aite Group, answers FTF News’ questions about the rise in global spending on reconciliation technology, which is particularly acute in the U.K. and throughout Europe. Aite’s latest report, “Reconciliation Technology Solutions in 2014: Recs Get Ready to Rumble” finds the percentage of reconciliation clients on a… Read More >>
T+2 to Expose Buy Side’s Shortcomings
The now-global push to shorten settlement cycles for securities transactions will profoundly challenge the buy side’s lack of investment over the years in automated, back-office infrastructures, particularly at Tier-2 and Tier-3 firms, according to a new report from market research firm Aite Group. In fact, for all firms, the move to settlement two days after… Read More >>
