While gnawing on that leftover drumstick, you might want to consider whether or not your holiday turkey was glazed with a “calculation error.” The Securities and Exchange Commission (SEC) has charged S&P Global Ratings (SPGR), a “nationally recognized statistical rating organization (NRSRO) registered with the Commission, with violating conflict of interest rules designed to prevent… Read More >>
Free ESG Analytics for NA Public Pensions & Other News
Impact Cubed Makes an Overture to North America Officials at Impact Cubed, an ESG data, analytics, and investment solutions vendor, recently announced that they are offering “free access to their platform for key public pension funds” in North America. The Impact Cubed platform is intended to help end-users see the granular impact of environmental, social,… Read More >>
Could the FTX Fiasco Spur Reforms?
The bankruptcy of cryptocurrency exchange FTX Trading Ltd. is causing multiple upheavals in digital asset trading markets and has spurred the collapse of cryptocurrency lender BlockFi Inc., which recently filed for chapter 11 protection. To quickly recap, “on November 11, 2022, and November 14, 2022, FTX Trading Ltd. and 101 affiliated debtors … each filed… Read More >>
SEC Ratifies New Proxy-Voting Disclosure Rules
To say the least, the SEC has been busy for the past two years. Amid the flurry of new and revamped regulation was the recent adoption of “amendments to Form N-PX to enhance the information mutual funds, exchange-traded funds, and certain other registered funds report about their proxy votes.” The SEC says the new rules… Read More >>
Getting to T+1 & T+0 Will Be Hard: Survey
A new survey of participants in securities markets across the globe finds that most respondents expect shorter T+1 and T+0 settlement cycles will become the norm by 2026. But getting to T+1 in the U.S. and elsewhere will present most firms with new challenges, according to the “Securities Services Evolution” whitepaper from Citi. The report,… Read More >>
Chicago Firm Streamlines Ops via INDATA & Other News
Asset Manager Moves to Single, Cloud-based System Boutique asset manager Advisory Research Investment Management (ARI) reports that it has gone live with a software as a service (SaaS)/cloud solution that combines front-office trade order management with back-office portfolio accounting and reporting functions. The implementation of the investment management system from vendor INDATA replaces an order… Read More >>
Firms Brace Themselves for SEC’s New Marketing Rule
Nearly two years ago, the Securities and Exchange Commission (SEC) unveiled major changes to the way that securities-trading firms can advertise under the Investment Advisers Act, and the “Modernized Marketing Rule” reforms take effect Friday, Nov. 4. However, the mandated changes will require “significant time and resource investment from firms,” says Bill Simpson, compliance principal… Read More >>
FINRA Eases Compliance via a Machine Readable Rulebook
It’s clear that during the Biden administration U.S. federal regulators and self-regulatory organizations (SROs) have been a little busy formulating new regulations and guidelines. They have also been keeping an eye on how updated technology can help firms meet their compliance obligations. In fact, the SEC recently greenlit a new era of electronic recordkeeping by… Read More >>
SEC Ends WORM-Only Storage Requirement
At long last, the SEC is ushering in a new era of electronic recordkeeping and many across the land are happy about it. In particular, the SEC has voted to adopt amendments to its rules regarding “electronic recordkeeping, prompt production of records, and third-party recordkeeping service requirements applicable to broker-dealers, security-based swap dealers (SBSDs), and… Read More >>
FSB Pushes Global Regulatory Framework for Crypto
The Financial Stability Board (FSB) has published a proposed framework for the international regulation of crypto-asset activities. Elements of the FSB’s proposed framework include “recommendations that promote the consistency and comprehensiveness of regulatory, supervisory and oversight approaches to crypto-asset activities and markets and strengthen international cooperation, coordination and information sharing; and revised high-level recommendations for… Read More >>
