Financial services firms have shifted their compliance priorities away from off-channel communication concerns despite a whirlwind of penalties issued by former SEC Chair Gary Gensler during the Biden years, according to a new survey. But the rules, monetary penalties, and risk of reputational harm have not gone away from off-channel violations, Ryan Sheridan, U.S. head… Read More >>
SS&C Acquires Calastone to Revamp Global Funds Ops
SS&C Technologies, a post-trade securities operations services and systems provider, is acquiring Calastone, a global funds network and financial technology solutions provider, from the Carlyle Group for $1.03 billion (£766 million) in an effort to build “a more connected, automated, and intelligent global fund ecosystem,” say SS&C officials. Calastone’s network and technology solutions are expected… Read More >>
Franklin Templeton Taps BNY for ETF Servicing
Global asset manager Franklin Templeton has appointed custody giant the Bank of New York Mellon Corp. (BNY) to provide “a full suite of asset servicing and foreign exchange capabilities” for U.S.-listed, exchange-traded fund (ETF) offerings, officials say. “Franklin Templeton is expanding its long-standing relationship with BNY to leverage additional services for one of its fastest-growing… Read More >>
CME Adds FTSE CoreCommodity CRB Index Futures
Derivatives marketplace company CME Group has expanded its presence in the global commodities market with the planned addition of FTSE CoreCommodity CRB Index futures, pending regulatory approval. The FTSE CoreCommodity CRB Index tracks a diversified basket of 19 commodities — including energy, agriculture, precious metals, and industrial metals. Officials say the new offering is designed… Read More >>
Equity Data Science Unveils ‘Fusion’ Initiative
Equity Data Science (EDS), a provider of investment process management (IPM) technology to hedge funds and asset managers, has launched a new generative artificial intelligence (A.I.) initiative called Fusion. Generative A.I. — designed to produce new content rather than simply analyze or categorize existing data — is being adopted across industries, including financial services. EDS… Read More >>
Microsoft, FNZ Plot A.I. Roadmap for Wealth Management
Tech behemoth Microsoft has announced a five-year, A.I.-led roadmap to transform the wealth management industry in partnership with London-based wealth management platform provider FNZ. The initiative will include co-innovation, joint go-to-market efforts, and the development of new A.I.-powered digital wealth tools. According to bigwigs at Microsoft, the goal of the project is to reimagine the… Read More >>
A.I. Tops the Worry List for Compliance: Survey
The researchers behind the 2025 Investment Management Compliance Testing (IMCT) Survey declare that they have found “a new king of compliance topics:” the adoption of technologies that use artificial intelligence (A.I.) The 20th IMCT Survey, which provides insight into compliance testing practices and priorities, was based on polling 577 compliance professionals. “This year’s results highlight… Read More >>
‘Genius Act’ Hopes to Launch a Stablecoin Revolution
Late last week, President Donald J. Trump signed the Genius Act into law, creating “the first-ever Federal regulatory system for stablecoins, ensuring their stability and trust through strong reserve requirements,” according to the White House. The legislation is intended to “pave the way for the United States to lead the global digital currency revolution.” However,… Read More >>
SEC Designates Acting Chair for the PCAOB
Independent watchdog, the Public Company Accounting Oversight Board (PCAOB), will soon have a new acting chair, George R. Botic, who will take over for PCAOB Chair Erica Y. Williams after her resignation takes effect July 22, 2025. This is according to the Securities and Exchange Commission (SEC), which designated the line of succession for the… Read More >>
ECB Reports Progress Toward a Digital Euro
Officials at the European Central Bank (ECB) report that they are making progress in laying the foundation for “the potential issuance of a digital euro.” This comes via a third progress report on the preparation phase of a digital euro, which was launched Nov. 1, 2023. The digital euro project is a collaborative effort involving… Read More >>
