(FTF News recently reached out to Madeleine Dassule, partner and co-head, technology, at Wellington Management. Dassule has joined the Fintech Open Source Foundation (FINOS) board of directors, a move that coincided with Wellington joining the nonprofit organization. FINOS is a proponent of open source technology, open standards, and collaborative efforts among software development groups in… Read More >>
Allianz Unit Pays Billions in Fines via Fraud Case
Allianz Global Investors U.S. LLC (AGI US) has admitted its guilt in what the SEC is calling “a massive fraudulent scheme” that hid the major risks of a complicated options trading strategy that the firm called “Structured Alpha.” The alleged scheme did not save the Structured Alpha funds, which collapsed and caused investors to lose… Read More >>
FTF Reveals the Winners of the 2022 FTF Awards
Financial Technologies Forum (FTF) is pleased to announce the winners of the 2022 FTF News Technology Innovation Awards competition and to confirm that there will be an in-person gala event later this year to celebrate the industry’s achievements in operational excellence. “I think it’s safe to say that it’s been a long two years. During… Read More >>
Medley & Former Co-CEOs to Pay $10M Penalty
Chapter 11 is not a good look for a manager of assets, don’t you think? And a cautionary tale is always valuable to offset the many temptations that beset the financial services industry, yes? Consider: With their own assets on the line just over a year ago, in March 2021, Medley Management LLC, a Delaware… Read More >>
DTCC to Explore Clearing & Settlement for U.S. CBDC
As cryptocurrencies and their inherent distributed ledger technology (DLT) gain ground in global markets, the U.S. government, among others, is exploring the creation of a central bank digital currency (CBDC) that would provide more protection for investors and financial services participants. Looking ahead to the onset of a CBDC, the Depository Trust & Clearing Corp…. Read More >>
Crypto-Token Securities Need to Be Regulated: Gensler
The wild, wild west for crypto-tokens could be ending as SEC Chair Gary Gensler has asked SEC and CFTC staff to look into how these innovative instruments should be registered and regulated by the SEC. Gensler made his priorities clear during a speech earlier this week that focused on cryptocurrency markets. Among other issues, his… Read More >>
SEC to Scan Private Funds, ESG, Ops & More
It’s that time again. Only this go-round, pardner, there’s a new sheriff at the U.S. Securities & Exchange Commission (SEC). And he’s refocusing priorities. Yup, the SEC Division of Examinations has announced its 2022 examination priorities, which include “several significant areas of focus and many perennial risk areas. The Division will focus on private funds,… Read More >>
Senate Confirms ‘Most Diverse’ CFTC Ever
The U.S. Senate has confirmed a new slate of commissioners for the CFTC and they will write the next chapter for the regulatory agency now led by Chairman Rostin Behnam, who notes that “the CFTC has the most diverse set of commissioners in the agency’s history.” U.S. Senators Debbie Stabenow (D-Mich.), chairwoman of the U.S…. Read More >>
‘Cowen Digital’ Launches & Other News Briefs
Cowen Division Focuses on Digital Asset Custody Cowen Inc. has officially launched the Cowen Digital division to provide a platform for trade execution and custody solutions that support digital assets traded by institutional clients, officials say. The new division, based in Stamford, Conn., offers custody solutions via Cowen’s partnership with PolySign’s Standard Custody & Trust,… Read More >>
FTF Unveils Nominees for the 2022 FTF Awards!
Financial Technologies Forum (FTF) and FTF News are pleased to announce the nominees for the 2022 FTF News Technology Innovation Awards competition. The variety and high volume of nominations are clear signs that fintech achievement is alive and kicking amid the challenges of a global pandemic, volatile markets, and a steady flow of game-changers such… Read More >>
