Governance
Sifma calls for better communication following cyber-attack simulation
October 22, 2013 - In the wake of a cyber-attack simulation, US financial services industry trade body Sifma has called on politicians to bring in legislation designed to improve communication between the government and private firms.
Knight Capital reaches $12m SEC settlement over IT meltdown
October 16, 2013 - The Securities and Exchange Commission today announced that Knight Capital Americas LLC has agreed to pay $12 million to settle charges that it violated the agency's market access rule in connection with the firm's Aug. 1, 2012 trading incident that disrupted the markets.
DTCC partners banks on global utility for client reference data
September 30, 2013 - The Depository Trust & Clearing Corporation (DTCC) has teamed up with a group of major global banks in a bid to develop a global service to collect and manage the client entity reference data necessary to meet regulatory requirements.
New York regulator opens investigation into virtual currencies
August 14, 2013 - Having sent out subpoenas to 22 bitcoin-related firms, the New York State Department of Financial Services (DFS) has confirmed that it is pondering new rules for virtual currencies.
Regulators consult on risk reporting standard for CCPs
October 15, 2013 - The Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO) have today published for public comment a consultative document on the Public quantitative disclosure standards for central counterparties.
ISITC North America Poll Highlights Financial Industry Challenges Posed by Regulatory Change
September 16, 2013 - ISITC (The International Securities Association for Institutional Trade Communication), the industry trade group focused on standards in transaction processing and related communications, today announced poll results addressing the most pressing challenges that regulatory change present to the financial industry. Findings reveal mixed feelings regarding the benefits that increased regulatory oversight will yield.
Key Dodd Frank Provision Places Greater Pressure on Banks to Maximize Payment Workflow
August 9, 2013 - Accuity, a part of BankersAccuity, the leading provider of global payment routing data and anti-money laundering (AML) screening software and services, today released a new industry perspective examining potential challenges banks face in light of Section 1073 of the Dodd Frank Act.
Wolters Kluwer Financial Services Ready to Help Institutions Meet CCAR and Dodd-Frank Stress Testing Requirements
October 10, 2013 - Wolters Kluwer Financial Services announced today that it can help financial institutions meet the Comprehensive Capital Analysis and Review and Dodd-Frank Act Stress Testing reporting requirements that are effective Jan. 5, 2014. In preparation for the CCAR and DFAST requirements, many bank executives find their time dominated by difficult data compilation, disparate calculation processes, and manual report generation and submissions.
Nasdaq moves to strengthen SIP after second outage
September 5, 2013 - Nasdaq has outlined a series of steps to improve the resilience of the Securities Information Processor following a second brief outage just weeks after a malfunction in the market data feed forced the exchange to shut down for three hours.
Sifma calls for exchange regulatory reform
August 2, 2013 - SIFMA today sent a letter to the Securities and Exchange Commission to request a review of the regulatory structure of broker-dealers, exchanges, and the self-regulatory model.
FTI Consulting appoints Christine Moran as MD of financial services governance group
October 2, 2013 - FTI Consulting, Inc. (FCN), the global business advisory firm dedicated to helping organisations protect and enhance their enterprise value, today announced the appointment of Christine Moran as a Managing Director in the company's Financial Services Governance, Risk and Regulation practice. Ms. Moran will be based in London.
Tradehill suspends bitcoin trading in face of regulatory heat
August 30, 2013 - Bitcoin exchange Tradehill has temporarily shut down trading, citing "banking and regulatory" issues related to its credit union partner. In a statement on its Web site, the firm says the "decision has not been made lightly and we regret having to take such action".
North American banks to spend $73.8bn next year - survey
August 2, 2013 - Large North American financial institutions will spend $73.8 billion on IT improvements across software, hardware and professional services next year, a two per cent rise on 2013, according to a Technology Business Research report.