The wheels of justice in the U.S. appear to be a little rusty, but they still run, and every once in a while, they remind us of a major scandal or two. This is proving to be the case for Tim Leissner, a former chairman and participating managing director (MD) for Southeast Asia at Goldman… Read More >>
Paul Atkins Will Drive a New Era for the SEC
Earlier this month, the U.S. Senate confirmed Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC) by a 52-to-44 vote that enables Atkins to finish the remainder of former SEC Chair Gary Gensler’s term, which expires June 5, 2026. (Atkins was officially sworn in on April 21 and can stay onboard… Read More >>
‘ChatGIPS’ Brings Together A.I. & Industry Standards
ChatGPT, the well-known chatbot system using artificial intelligence (A.I.) and developed by OpenAI, has crossed paths with the Global Investment Performance Standards, or GIPS, which are the voluntary ethical guidelines for performance measurement and client reporting created and maintained by the CFA Institute, and the ChatGIPS chatbot now exists in the world. Just to remind… Read More >>
Time to Consider Net-Zero Investing?
Despite backlashes against ESG-based efforts, is it time to start thinking about net-zero investing? Officials at the CFA Institute Research and Policy Center think so and recently released a guide to help investors (and investment firms) “advance the theory and practice of net-zero investing.” The guide is a serialized volume, “Investment Innovations Toward Achieving Net… Read More >>
Time for Cleaner Air in Your Home Office?
Hybrid working situations are becoming the norm for many financial services firms and their staff members. Despite executives who fear their minions are taking advantage of the time away from the office, staff members, especially younger employees, like splitting time between the office and home office. So, this is another exploration of gadgetry that can… Read More >>
Should the GAO Audit the CFTC?
Caroline D. Pham, a Commodity Futures Trading Commission (CFTC) commissioner, started the Open Meeting on May 10 with a bang — she wants the U.S. Government Accountability Office (GAO) to investigate the CFTC because she thinks the regulator has expanded its jurisdiction without a proper mandate, and, as a consequence, has strayed far from its… Read More >>
The SEC Is Charging More to Regulate You
As the SEC very publicly takes on major matters such as its climate disclosure requirements — the fate of which is playing out in court and in Congress — the regulator has quietly moved ahead with an increase in the rate that securities exchanges and broker-dealers pay to be regulated by the commission. “Starting on… Read More >>
NY State Wants Firms to Report Ransomware
The state of New York has amended its “first-in-the-nation” cybersecurity regulations and will be requiring financial services firms to report ransomware amounts just as cyberattacks are increasing, according to the regulator New York State Department of Financial Services (NYS DFS) and New York Governor Kathy Hochul. In addition to the ransomware reporting, the updated regulations… Read More >>
We Must Take Care of 9/11 Responders & Survivors
It’s hard to fathom that more than two decades have passed since Sept. 11, 2001. For some, many of the events of that day are simultaneously the past and the present. They have instant memories that are real and painful. For others, there are constant reminders of 9/11 because of the diseases and chronic healthcare… Read More >>
Will Europe Move to T+1?
The move to a shorter settlement cycle for European equities has many more moving parts than the transition in the U.S. and Canada, which are moving fast from the current trading day plus two (T+2) settlement cycle to the shorter, one-day, T+1 time frame for equity markets. In addition, Europe does yet face pressure from… Read More >>
