Financial Services

ground up view of three grain silos

Sins of the Silo

Compliance Challenges in Financial Services The financial services sector faces numerous obstacles – especially the constant change in regulations. Michael Powell, Solutions Consultant at ZL Technologies, shares insights around the four biggest compliance challenges facing the industry today and how data management can play a role in overcoming them. With a unique set of compliance standards, the financial services industry faces...

In the “Wild West” of Virtual Currencies, Anti-Money Laundering and Sanctions Enforcement is Anything but Virtual

In the “Wild West” of Virtual Currencies, Anti-Money Laundering and Sanctions Enforcement is Anything but Virtual

Opportunities Revolutionize The Current Financial and Commerce System While virtual currencies offer many opportunities to revolutionize the current financial and commerce system, equally great risks exist relating to money laundering, sanctions compliance, and terrorist financing. Banks and virtual currency operators that can achieve robust levels of anti-money laundering (AML) and sanctions compliance and overcome the various compliance challenges will likely...

Fintech & Banking: Weighing the Compliance Risks & Rewards

Fintech & Banking: Weighing the Compliance Risks & Rewards

Fintech Collaborations on the Rise Fintech-bank partnerships result in growth opportunities. In this article, Krista Morgan examines the risk-reward relationship in this growing trend. The strength of our banking system is that we trust it. That trust comes from knowing that banks follow rules designed to protect us. As consumers, we want to know that our money will be safe,...

financial professionals

Is a Stricter Standard of Conduct on the Horizon for Broker-Dealers?

Broker-Dealers Navigate New Logistics On the heels of the DOL Fiduciary Rule’s defeat by the Fifth Circuit Court, the SEC proposed its own series of rule-makings and interpretations intended to address investor confusion about the duties owed to them by their financial professionals. As regulators debate the proposal, Cordium's Darren Mooney breaks down what it entails, and what firms should be...

LIBOR

Transitioning Away from LIBOR: What Is Coming and What Can We Do Now?

Concerns Abound in the Financial Markets This article discusses how the potential transition away from LIBOR has raised significant concerns in the financial markets, including whether LIBOR will end in 2021, what may replace it, what fallback language should be included in contracts in the interim, and how transition risks can be managed? with co-author Elena Mitchell The potential transition away...

two businessmen analyzing a financial report

Key Topics of Interest to the SEC

Guidance from Director Dalia Blass Director Dalia Blass of the SEC's Division of Investment Management (the "Division") recently delivered the keynote address for the ICI 2018 Mutual Funds and Investment Management Conference.1 Director Blass discussed four main topics: (1) the role of data in the SEC's work, (2) the role of fund directors, (3) aspects of exchange-traded funds (ETFs) and (4)...

hacker behind multiple computer screens

Who Is Watching The Watchmen?

CFTC Penalizes Registrant for Outsourced IT Security Lapses Last month, the CFTC settled charges against an organization for its failure to ensure the security of its’ customers’ records and information. The registrant’s third-party vendor gained unauthorized access to more than 90,000 records, and the CFTC’s charges make clear the risks registrants can face when their third parties are derelict in...

coffee cup with MiFID logo

Navigating MiFID II Compliance Waters

Easing the Burden for Financial Services Firms Financial services firms that are headquartered or do business with customers in the European Union (EU) have been subject to the Markets in Financial Instruments Directive (MiFID) since its enactment in 2007. But now there is a new wrinkle — an enhanced version of this cornerstone of capital markets regulation. This wrinkle is...

three arrows in an archery target

Moving Targets That Reinvent Themselves

Suitability Surveillance and Controls Despite how many risk and compliance eyes an investment bank has inspecting client activity, when it comes to managing risk, it's impossible to review each and every investment recommendation or transaction by a simple eyeballing of trade records. And understanding any recommendation or transaction in the context of a client’s investment profile is both a critical...

venn diagram illustrating overlapping interests

SEC & FINRA: 4 Shared Regulatory Priorities

Where Firms Should Concentrate Compliance Efforts In the past few months, both the SEC and FINRA issued guidance concerning their regulatory priorities for the coming year. Both of the agency’s annual priorities letters address a large number of diverse topics. Experts from Baker Donelson discuss where the SEC's and FINRA's concerns overlap, what they have indicated their areas of focus and...

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