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Goldman Sachs VP Charged with Insider Trading

June 8, 2018 by Louis Chunovic

Goldman Sachs VP Charged with Insider Trading

An investment bank vice president has been arrested and stands accused in a SEC complaint filed in a New York federal court of using a nominee trading account, held in the name of a close friend, to make “numerous” securities trades on material nonpublic information (MNPI). According to the SEC complaint, Woojae Jung, 37, a.k.a…. Read More >>

Filed Under: Risk Management, AML/Fraud/Financial Crime, Operational Risk, Industry News, General Interest, Human Interest Tagged With: Human Interest, General Interest, Industry News, AML/Fraud/Financial Crime, risk management, Goldman Sachs, insider trading, operational risk

GMEX and DAG Create JV Bridge to Disruptive IT

June 1, 2018 by Eugene Grygo

GMEX and DAG Create JV Bridge to Disruptive IT

GMEX Group (GMEX) and the Digital Asset Group (DAG) are forming a joint venture (JV) intended to create a bridge between disruptive technologies such as blockchain/distributed ledgers and artificial intelligence (AI) and the practices of regulated banking, finance and trading exchanges. DAG and GMEX via their joint venture will develop “high impact blockchain and crypto… Read More >>

Filed Under: Securities Operations, Automation, Blockchain/DLT, Data Management, Clearing, FinTech Ops, Back-Office, Standards, Industry News, General Interest Tagged With: blockchain/DLT, FinTech Ops, General Interest, Industry News, DAG, joint venture, Dmitry Kaminskiy, Hirander Misra, automation, back office, data management, Standards, GMEX, clearing, Securities Operations

Federal Reserve Kicks Off Volcker Rule Revamp

June 1, 2018 by Eugene Grygo

Federal Reserve Kicks Off Volcker Rule Revamp

The Federal Reserve at its May 30 meeting unveiled changes to the controversial Volcker Rule — which prohibits proprietary trading and banks from owning hedge funds or private equity funds — in a move widely seen as a response to industry pressure and is in keeping with the will of the Trump administration. Fed officials… Read More >>

Filed Under: Securities Operations, Data Management, Regulation, Risk Management, Regulation & Compliance, Governance, Operational Risk, Regulatory Reporting, Industry News, General Interest Tagged With: General Interest, Industry News, data management, risk management, regulation, Regulation & Compliance, governance, regulatory reporting, operational risk, Securities Operations

Capitolis to Debut Automated Novation for FX

May 31, 2018 by Eugene Grygo

Capitolis to Debut Automated Novation for FX

Over the coming weeks, vendor Capitolis will be going live with an automated novation service for foreign exchange (FX) transactions that are often manual processes for FX prime broking and bilateral trading, officials say. Capitolis officials are pitching the Capitolis Novation service as the first of its kind and as a way to bring new… Read More >>

Filed Under: Securities Operations, Automation, Buy-Side, Data Management, General Ops, Integration, Middle-Office, Standards, Operational Risk, Industry News, General Interest Tagged With: General Interest, Industry News, General Ops, Capitolis, Vincent Bonamy, Brevan Howard, automation, middle office, data management, Standards, Buy-side, integration, FX, operational risk, Securities Operations, Gil Mandelzis

Deutsche Börse’s ‘Roadmap 2020’ Will Require 350 Layoffs

May 31, 2018 by Eugene Grygo

Deutsche Börse’s ‘Roadmap 2020’ Will Require 350 Layoffs

Deutsche Börse executives are planning an overhaul that will result in 350 job losses, a new focus on organic growth, acquisitions, and new technologies, according to the German exchanges company’s “Roadmap 2020” strategy presentations at its annual Investor Day in London, May 30. In particular, Deutsche Börse officials want: To grow structural net revenue “by… Read More >>

Filed Under: Securities Operations, Automation, Data Management, FinTech Ops, Back-Office, Governance, Industry News, People Moves, General Interest, M&A, Human Interest Tagged With: FinTech Ops, Human Interest, General Interest, Industry News, People Moves, automation, back office, data management, M&A, job cuts, layoffs, governance, Securities Operations, Deutsche Borse

FINRA, SEC Slam ICBCFS Over Allegedly Inadequate AML

May 31, 2018 by Louis Chunovic

FINRA, SEC Slam ICBCFS Over Allegedly Inadequate AML

The Financial Industry Regulatory Authority (FINRA) reports that it has censured and fined Industrial and Commercial Bank of China Financial Services (ICBCFS) $5.3 million for systemic anti-money laundering compliance failures, including its failure to have a “reasonable” AML program in place to monitor and detect suspicious transactions, as well as other violations, including financial, record-keeping… Read More >>

Filed Under: Securities Operations, Regulation, Back-Office, Risk Management, Regulation & Compliance, AML/Fraud/Financial Crime, Governance, Operational Risk, Regulatory Reporting, General Interest, Human Interest Tagged With: Human Interest, General Interest, AML/Fraud/Financial Crime, Regulatory, Chardan Capital Markets, Jerard Basmagy, reporting, back office, SEC, risk management, regulation, FINRA, AML, Regulation & Compliance, governance, operational risk, Industrial and Commercial Bank of China Financial Services, ICBCFS, Securities Operations

No Bonus Again for Deutsche Bank Execs

March 13, 2018 by Eugene Grygo

No Bonus Again for Deutsche Bank Execs

It appears that a CEO of a major, global bank is suggesting that for the second consecutive year executive managers do not exactly deserve a bonus. By contrast, the CEO is indicating that the rank and file employees should get one this year. John Cryan, the CEO of Deutshe Bank, made these declarations last week… Read More >>

Filed Under: Performance Measurement, Standards, Governance, Industry News, General Interest, Opinion, Minding the Gap, Human Interest Tagged With: Human Interest, General Interest, Industry News, Opinion, Zeit Online, South by Southwest (SXSW), Deutshe Bank, performance measurement, Standards, governance, Minding the Gap, John Cryan

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