New Lead Director and New Board Committee Chairs at Morgan Stanley Morgan Stanley reports that Reuters veteran Thomas Glocer has been appointed independent lead director of the board of directors, taking over from Erskine Bowles, effective September 1, 2017. Glocer was appointed by the board’s independent directors. Glocer’s appointment “reflects the Board’s governance policy of… Read More >>
FINRA Promotes to Fill Top Enforcement Post
FINRA’s Susan Schroeder Moves Up Officials at the Financial Industry Regulatory Authority (FINRA) report that they have promoted Susan Schroeder to executive vice president and head of enforcement. Schroeder has been the acting head of enforcement since the departure of Brad Bennett earlier this year, FINRA officials say. Previously, she served as senior vice president… Read More >>
CFTC & SEC Use Videos to Humanize Their Work
The two major government regulators for U.S. markets, the SEC and CFTC, are reaching out via new videos that attempt to make what they do more relevant to mainstream investors, which would be many Americans. It’s encouraging that they are trying to humanize what they do although videos about potential audits and exams might make… Read More >>
FICC Launches a Repo Clearing Service
FICC Targets Risk Reduction & Capital Relief The Fixed Income Clearing Corp. (FICC), a DTCC subsidiary, has launched a repo clearing offering, the Centrally Cleared Institutional Tri-Party (CCIT) Service, that is intended to provide risk reduction and potentially capital relief, officials say. In fact, hedge fund giant Citadel and investment bank Morgan Stanley have already… Read More >>
SEC Fills Deputy Director Post for Corporation Finance
SEC Hires from Shearman & Sterling LLP SEC officials report that Robert Evans III has been named deputy director in the division of corporation finance, where he will join Shelley Parratt, also a deputy director, as a senior advisor to the division’s director, William H. Hinman. Most recently, Evans, who, according to the commission, has… Read More >>
SEC Charges Ex-Ops Head at ITG in ADR Case
The SEC reports additional charges in an enforcement investigation involving the improper handling of American depositary receipts (ADRs) by a former supervisor at broker-dealer ITG Inc.’s securities lending desk. The SEC investigation alleges that Anthony Portelli, ITG’s former managing director and head of operations, who ran ITG’s securities lending operations and was responsible for the… Read More >>
Deutsche Bank Bolsters Anti-Financial Crime Staff
Deutsche Bank Names Head & Deputy of Anti-Financial Crime for the Americas Deutsche Bank has appointed Richard Weber as managing director and head of anti-financial crime for the Americas and Irwin Nack as managing director and deputy head of anti-financial crime for the Americas. Weber will report to Philippe Vollot, global head of anti-financial crime… Read More >>
SEC’s Clayton Clarifies Leadership for Enforcement
The SEC reports that Stephanie Avakian, acting director of the division of enforcement, and Steven Peikin, managing partner of Sullivan & Cromwell’s criminal defense and investigations group, have been named co-directors of the division of enforcement, the commission’s largest unit with more than 1,200 employees. Avakian will continue to work out of the SEC’s Washington,… Read More >>
Regulators Catch Up to Social Media Usage
(Editor’s note: Digital compliance, archiving, and analytics vendor, Actiance, recently signed a global partnership with Hootsuite, a social media management platform provider. The partnership will combine Hootsuite’s platform with Actiance’s Socialite offering for compliance across public social networks, and Actiance’s Alcatraz, a context-aware, cloud-based archive. A key aspect of the collaboration is the growing list… Read More >>
DTCC Shuffles Managers for Key Businesses
DTCC Appoints Matthew Stauffer, Others to New Posts Officials at the Depository Trust & Clearing Corp. (DTCC) report that they have shaken up the management for key businesses, including the appointment of Matthew Stauffer as managing director and head of institutional trade processing, effective June 30, 2017. In other major organizational moves, the post-trade market… Read More >>
