The Securities and Exchange Commission (SEC) reports that it filed 434 new enforcement actions in fiscal year 2021. The SEC’s whistleblower program was “critical to these efforts and had a record-breaking year,” a commission statement notes. FY 2021 “marked the highest number of awards to both the number of individuals and in dollar amounts awarded,”… Read More >>
JPM Asset Management Taps JPM Securities Services
Following a two-year search, JPMorgan Asset Management (JPMAM) officials report that they will be outsourcing to JPMorgan’s Securities Services division an updated set of global operations that will encompass middle office services, collateral management, and risk analytics. The move means that there will be a definite swing to a more flexible model for services that… Read More >>
Broadridge Dashboard Offers ESG Views of Companies: Q&A
(Post-trade systems, services, and software provider Broadridge Financial Solutions recently launched the Broadridge ESG Performance Dashboard, an effort that is intended to present investors and shareholders with a wide view of companies and their Environmental, Social and Governance (ESG) ratings, officials say. ESG criteria “are a set of standards for a company’s operations that socially… Read More >>
ACA Group & Foreside Agree to Merge
Genstar to Be Majority Owner of Combined Company Governance, risk, and compliance (GRC) solutions vendors ACA Group and Foreside Financial Group have signed a definitive agreement to combine their two companies, officials say. Private equity firm Genstar Capital, which invested in Foreside earlier this year, will become the majority owner of the combined business… Read More >>
Franklin Templeton Outsources Transfer Agent Unit to FIS
Asset manager Franklin Templeton has launched a partnership with FIS that will allow the software and services provider to take over the management of the firm’s global transfer agent (TA) function, which includes potentially onboarding 1,450 Franklin Templeton employees. To provide continuity in service, Franklin Templeton’s transfer agent workforce across Asia-Pacific, Canada, Europe, and the… Read More >>
Iress Completes QuantHouse Integration via Team Launch
New Iress Team to Drive Combined Solutions Financial technology provider Iress has completed its integration of the offerings of QuantHouse — acquired two years ago — with the launch of the Iress API Data and Trading Solutions team, which will drive the sales and support for a suite of trading data solutions and managed services,… Read More >>
Aegis Capital Settles Charges of Excessive Trading
FINRA, the financial services industry’s self-regulatory authority, has levied fines and a sanction against Aegis Capital Corp. and two of its supervisors, Joseph Giordano and Roberto Birardi. Aegis Capital neither admits nor denies the FINRA accusations. However, Aegis will pay $1.7 million in restitution to 68 customers “whose accounts were potentially excessively and unsuitably traded… Read More >>
LCH Approved for Portfolio Margining of Swaps
CFTC Also Permits Security-Based Swaps Margining The Commodity Futures Trading Commission (CFTC) has approved a request by Banque Centrale de Compensation, doing business as LCH SA, to provide portfolio margining of swaps and security-based swaps in a cleared swaps customer account, officials say. “The order establishes terms and conditions under which LCH SA and its clearing members… Read More >>
Credit Suisse to Exit Prime Services Business
Credit Suisse officials shortly after they announced an exit from the prime services business revealed that they have signed a referral agreement with BNP Paribas that will enable the French banking giant to provide support for the Swiss bank’s prime services and derivatives clearing customers. The move was made to facilitate the migration of clients… Read More >>
Wall Street Mulls Key Pandemic Post-Trade Lessons
Some observers on Wall Street are saying that the global pandemic may be heading toward an end phase. I hesitate to agree with that prediction given the many unexpected riptides that the potentially fatal COVID-19 virus has imposed upon the world since its onset in 2020 (or even sooner). So, while we hope that the… Read More >>
