Linda A. Lacewell, superintendent of financial services for the New York State Department of Financial Services (NYSDFS), is acting to “promote diversity, equity and inclusion” by making financial services firms provide data about the diversity of their corporate boards and managers. NYSDFS officials say the data “will be collected in the fall of 2021 and… Read More >>
NYSDFS Contestants to Explore Regs for Crypto Firms
It’s not the Super Bowl. But Techsprint — the contest the New York State Department of Financial Services (NYSDFS) is holding for registered crypto-currency companies — may become just as important for financial regulators. It’s meant to keep tabs on those virtual currency companies that have registered with the NYSDFS. It’s also meant to formalize… Read More >>
Regulator Wants Social Media Controls After Twitter Hacks
“On July 15, 2020, a 17-year old hacker and his accomplices breached Twitter’s network and seized control of dozens of Twitter accounts assigned to high-profile users,” a recent report from the New York State Department of Financial Services specifies. That widely publicized hack also exposed private information about both regulated cryptocurrency firms and public figures… Read More >>
NYFIX Matching Now Supports SWIFT Messaging
Itiviti & ECS Partner to Bolster NYFIX Matching Itiviti, a technology and service provider to financial institutions, reports the advent of a partnership with ECS Fin, a provider of financial messaging services and transaction-processing solutions, that will add trade settlement to NYFIX Matching. The partnership, Itiviti says, will enable NYFIX Matching to process trade messages… Read More >>
Deutsche Bank to Replace Co-CEOs
The Deutsche Bank supervisory board has appointed John Cryan, 54, a board member who formerly was president for Europe at Temasek, the Singaporean investment company (2012 to 2014), and chief financial officer of UBS (2008 to 2011), to the position of co-chief executive officer, effective July 1. The appointment, made at what the bank called… Read More >>
Superintendent Lawsky to Leave NYDFS
Benjamin M. Lawsky, the New York State Department of Financial Services’ initial superintendent of financial services, will depart the agency in late June, after four years in the post, officials confirm. The agency was created by the New York State Senate in 2011, through the merger of two predecessor agencies, the New York State banking… Read More >>
Nasdaq Embraces a Disruptive Blockchain Initiative
The Nasdaq Stock Market has announced it will soon use blockchain technology – the decentralized ledger system that powers cryptocurrencies like Bitcoin – to facilitate the management of a special private equity securities service, the latest indication that the hype surrounding blockchain isn’t all hot air. Interestingly, centralized exchanges like Nasdaq have long been identified… Read More >>
NY Regulator Warns of Third-Party Cyber-Security Risk
Financial services firms are largely ignoring the critical role third-party vendors play in an overall cyber-security strategy, a blind spot that could make them vulnerable to infiltration, according to a recent report by the New York Department of Financial Services (NYDFS). The report, titled “Report on Cyber Security in the Banking Sector,” is based on… Read More >>
