In my continuing coverage of bonus-worthy gadgets, I am focusing on the latest from the maker of streaming player devices, Roku, Inc. The vendor has released the “Roku Ultra,” a bundled offering that company officials say is intended to help you better navigate the complex world of streaming and Web-based content, particularly if you have… Read More >>
SS&C’s Asset Allocator Platform Launches & Other News
SS&C Uses FundHub for New Platform Post-trade systems and software vendor SS&C Technologies reports that it has launched the Asset Allocator Platform, based on FundHub, to provide a holistic view of portfolio holdings, a fund document repository, and performance analysis features. SS&C GlobeOp describes FundHub as “a web-based tool for building and managing alternative investment… Read More >>
BlackRock Asks SEC to Streamline Climate Risk Reporting
With $10 trillion in assets under management (AUM), BlackRock is generally considered one of the world’s top asset managers. So, when it sends a comment letter about a regulatory matter, people tend to pay attention. Earlier this month, BlackRock sent its list of suggestions to the SEC about the regulator’s push for new regulation that… Read More >>
National Securities Corp. Pays $9M to Settle FINRA Case
Clearly, FINRA, the brokerage industry’s self-regulatory authority, is not happy with the National Securities Corp. FINRA has ordered NSC to pay approximately $9 million, “including disgorgement of $4.77 million in net profits the firm received for underwriting 10 public offerings in which NSC attempted to artificially influence the market for the offered securities.” The firm neither confirms nor… Read More >>
Disaster Recovery & Resilience Are Part of Production: DTCC
A new white paper from the Depository Trust & Clearing Corp. (DTCC) is making the case that disaster recovery and resilience are becoming part of the real-time, production IT infrastructure at financial services firms rather than rare contingencies. The report, “The Power of Technology Resilience: A Framework for the Industry,” argues that while firms are… Read More >>
Ad Campaign Exposes SEC’s Sense of Humor
Move over, “Jeopardy,” “Who Wants to Be a Millionaire?” “The Price is Right” and “Wheel of Fortune!” There’s a new game show in town and it’s backed by a well-known sheriff — the Securities and Exchange Commission (SEC) — now with a sense of humor. Well, sort of. No one expects a barrel of laughs to… Read More >>
Merrill Lynch to Give Back $15.2M to Customers
FINRA, the self-regulatory organization for broker-dealers, has ordered Merrill Lynch, Pierce, Fenner & Smith (MLPF&S) to pay $15.2 million-plus to “thousands of customers who purchased Class C mutual fund shares when Class A shares were available at substantially lower costs.” Looking at it from street level, you might be reminded of the shell game separating… Read More >>
SEC Officials Must Finalize CAT Data Security: SIFMA
Kenneth E. Bentsen, Jr., president and CEO of SIFMA, is calling upon the Securities and Exchange Commission (SEC) to pick up the pace when it comes to a data security proposal for the Consolidated Audit Trail (CAT) system, which is slated to go live in July. The CAT system is the result of SEC Rule… 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 >>
State Pensions Face Anti-ESG Backlash
Now that Earth Day has come and gone again, it might be an appropriate time to consider the right-wing conservative backlash against public pension funds and their ESG investing. “ESG,” as FTF News readers know, stands for “Environmental, Social, and Governance.” ESG is meant to ensure that boardrooms and shareholders consider factors beyond simple fluctuations… Read More >>
