The usually aloof and austere Federal Reserve Board is hinting that it may want to enter the 21st Century. A little out of the blue, the Fed has announced that it wants public input about the creation of a real-time interbank settlement system for faster payments that could affect a wide variety of financial transactions…. Read More >>
Is the U.S. Treasury Market Ready for Change?
The U.S. Treasury market could see “rapid and dramatic change” that could result in a clearing monopoly being replaced by “a more competitive European model,” according to a new report from market research firm Greenwich Associates. The report, dubbed “Invisible Frontiers: How Clearing Shapes U.S. Treasury Market Structure,” argues that “the market structure for U.S…. Read More >>
Firms Fined $26B Over the Past Decade: Fenergo
Have you ever wondered how much financial services firms have paid over the past decade in fines when they have been in violation of anti-money laundering (AML), know your customer (KYC) and sanctions regulations? Fenergo, mostly known for its client management solutions, decided to find answers to that question using “various sources, including regulatory and… Read More >>
Should ETFs Be Their Own Asset Class?
It’s no secret that exchange-traded funds (ETFs) have become quite popular as instruments that “help institutions manage their cash flow, hedge risk, gain quick exposures to illiquid market segments and more,” as market research firm Greenwich Associates has noted. But is it time for the industry to take ETFs to the next level? A new… Read More >>
Time for a Crypto Cop?
Many people have been wondering when the controversial crypto currency phenomenon will get the regulatory oversight needed to provide safeguards for investors and other participants. In the U.S., the SEC and CFTC are pursuing guidelines and enforcement actions as the crypto efforts move full speed ahead. I’m certain that the regulators would appreciate additional help… Read More >>
Cybersecurity Regulation Deadline Looming via NY DFS
In case you may need another regulatory deadline, the New York Department of Financial Services (DFS) has issued a reminder to all the organizations it oversees that they have a cybersecurity regulation deadline coming up on Sept. 4, 2018. That is the day when “the third transitional period of New York’s first-in-the-nation cybersecurity regulation ends,”… Read More >>
Giancarlo’s Letter to the Pope
It took a while, but CFTC Chairman J. Christopher Giancarlo and Chief Economist Bruce Tuckman have responded via a letter to the justified criticisms of derivatives and related activities that the Vatican with the blessing of Pope Francis released this past May. To recap, a Bollettino published May 17 by the Vatican’s Congregation for the… Read More >>
Another Bold Move by Commerzbank?
While the USA was gearing up for the Independence Day holidays in early July, Commerzbank in Germany announced the sale of its equity markets and commodities (EMC) business to Société Générale (SocGen) for an undisclosed sum. On the face of it, the deal helps Commerzbank streamline operations as part of its much-publicized Commerzbank 4.0 strategy,… Read More >>
SEC Filers Must Move to Inline XBRL
Amid the flurry of news about tariffs, scandals, mergers and trade wars, the SEC quietly adopted rule amendments that will require the implementation of the Inline eXtensible Business Reporting Language (XBRL) format “for the submission of operating company financial statement information and fund risk/return summary information,” according to the SEC. The amendments are expected “to… Read More >>
Pondering the Disruptions of 2018
Suddenly, we’re heading into the Fourth of July holiday. Independence Day marks the end of the first half of a year that has been marked by ongoing technology disruptions, volatile markets, dramatic geopolitical situations, a flurry of mergers and acquisitions, a crypto currency craze, and a strong sense that while new regulation has not ceased,… Read More >>
