The SEC has hired Wesley R. Bricker as its new deputy chief accountant, following his second stint at PricewaterhouseCoopers (PWC), officials say. In his new role, Bricker will oversee the accounting group in the SEC’s Office of the Chief Accountant. Bricker has more than 15 years’ experience in public accounting, and joins the SEC from… Read More >>
Macquarie Securities Fills Top Post for Execution
Macquarie Securities, the institutional equities arm of Macquarie Group, has appointed Stuart McWilliam as global head of electronic execution for Macquarie Securities, officials say. McWilliam has responsibility for Macquarie’s market-leading electronic product in Australia. In his new role, he will also be responsible for the continued development of Macquarie’s U.S. and European electronic products, officials… Read More >>
SEC Promotes Acting Head of Investment Management Unit
The SEC reports that David Grim has been named director of the division of investment management. Grim has been the division’s acting director since February, following the departure of former director Norm Champ. Grim joined the SEC in September 1995 as a staff attorney in the division’s office of investment company regulation, according to a… Read More >>
ISDA Service to Offer EMIR Clearing Tool
The International Swaps and Derivatives Association (ISDA) and Markit, a London-based provider of financial information services, report the launch of the European Market Infrastructure Regulation (EMIR) clearing classification tool on ISDA Amend, the ISDA and Markit online service that facilitates compliance with “certain EMIR and other regulatory requirements.” Specifically, the tool “enables derivatives users to… Read More >>
Bancolombia to Deploy FATCA Solution
AxiomSL, a provider of regulatory reporting and risk management solutions to the financial services industry, reports that Bancolombia, Colombia’s largest bank, will be deploying AxiomSL’s Foreign Account Tax Compliance Act (FATCA) solution. The FATCA solution is a “scalable and cross-border tax reporting platform which will leverage the bank’s reporting process to ensure on-time compliance with… Read More >>
It’s Time for T+2 and FTF Focus Magazine
A very warm spring has come to the New York City area this week and coincidentally we are debuting a new online magazine from FTF News (a printed version is also available). To underscore our new commitment to magazine journalism, we have renamed the publication “FTF Focus,” and for this special edition, we took on… Read More >>
NFA VP: Untangling Regulatory Overlap Could Take a Decade
It’s a mix of good and bad news for firms in the derivatives markets struggling to comply with overlapping demands made by multiple regulators. The good news is that regulators are aware of the problem, and are working to fix it. The bad news, according to Jamila Piracci, vice president of over-the-counter (OTC) derivatives for… Read More >>
ICAP Veteran Appointed to Virtu Financial Board
Market maker Virtu Financial has appointed John D. Nixon, the former group executive director for Americas at interdealer broker ICAP (US), to its board of directors effective immediately, officials say. Nixon recently announced that he will retire from the ICAP board of directors March 31 of this year, a position he held since May 2008…. Read More >>
Swaps Reporting May Ease for Some
The CFTC has approved for public comment a proposed rulemaking that could ease swaps reporting requirements for some counterparties, officials say. The proposed rule would reduce reporting and record-keeping requirements for “trade option counterparties that are neither swap dealers nor major swap participants (Non-SD/MSPs), including commercial end-users that transact in trade options in connection with… Read More >>
Integral Aims New Exchange at Fragmentation
Over-the-counter (OTC) foreign exchange (FX) trading network provider Integral Development Corp. has unveiled the Open Currency Exchange (OCX), its latest effort in an attempt to counter the fragmented liquidity of incumbent FX platforms, officials say. OCX offers unlimited screen trading for a monthly subscription of $275 and “dramatically lowers the cost of accessing FX markets,”… Read More >>
