Financial Services

Insights from investment industry sponsors, investors and service providers LP and GP Relations in Flux Amid Economic Volatility 2023 Investment Funds Outlook About this report from Barnes & Thornburg: After a several-year stretch of record gains and robust capital inflows, private investment funds are now navigating increasingly volatile economic terrain. As has been well publicized, 2022 saw double-digit decreases in...

Social selling gives financial advisers an effective way to connect with potential clients and build a rapport with them as a way of generating new customers, but it also comes with compliance requirements that, if not managed properly, can become burdensome and potentially costly to a firm. SafeGuard Cyber’s Chris Lehman digs into the SEC’s rules and shares advice for...

The SEC is continuing its focus on cybersecurity regulations by announcing three new proposed rules and re-opening the comment period on an additional proposed rule from last year. Each of the proposed rules focuses on entities in the financial sector, including broker-dealers, investment advisers, investment companies and other entities regulated by the SEC. A trio of experts from Baker Donelson...

It’s been the better part of two decades since a relatively common risk management mechanism — an interest rate swap — served as a scapegoat for a long, deep economic recession. Could our current financial crisis, which just this week saw First Republic Bank seized by federal regulators and subsequently taken over by JP Morgan, bring vindication to the humble...

How can we stem the tide of dirty money flowing through financial institutions? Proposal for New Regulation A Plan to Inhibit Significant Money Laundering Offenses and Improve Enhanced Due Diligence About this whitepaper from Robert Mazur:Take a very close look at the dozens of deferred prosecution agreements and indictments pled to by major banks when they’ve been accused of anti-money...

The asset management industry isn’t exactly known for diversity in its ownership ranks, and neither are the outsourced service providers firms often engage. Katie Twomey of Illumen Capital argues for diversity across the board, even in organizations without traditional supply chains. Diverse-owned firms represent just 1.4% of the $82 trillion in assets under management within the asset management industry. While...

Heightened regulatory scrutiny is pushing compliance spending up at financial services firms, according to a survey by tech provider SteelEye, which reported that 76% of finserv firms elevated compliance expenditures over the past year. The survey, part of SteelEye’s annual report on compliance practices, included responses from more than 300 senior compliance decision-makers in financial services firms in the U.S.,...

After a Covid-related grace period, new contract accounting standards — ASC 606 — are in effect for both public and private companies. Tom Zauli of Softrax, explores what you need to know about meeting accounting standards in an uncertain economy. In 2020, the U.S. economy entered a recession resulting from the global Covid pandemic. This recession was different in length...

With federal investigations pending, the autopsy of Silicon Valley Bank and resulting cascade of bank failures is only just beginning. Experts have suggested a faulty risk model is partially to blame, and while sharing customer data with its peers likely would not have saved the bank, business data analyst Sukirt Singh suggests SVB and other troubled banks could learn a...

(Sponsored) In today’s world, financial criminals are often a step ahead of regulators and financial institutions who struggle to effectively guard against the threat of money laundering and financial crime. It was once estimated by the International Monetary Fund (IMF) that money laundered throughout the world on an annual basis can be up to 2% - 5% of the global...

From startups to big banks, the technology and financial services sector have already seen tens of thousands of layoffs in 2023. Not only do these cuts challenge main business functions, but they could lead to serious trouble down the road in the form of insider fraud. Bottomline Technologies’ Chris Gerda talks about new approaches banks and financial institutions should take...

Banks bear the brunt of consequences for financial crimes amid a huge increase in anti-money laundering fines in 2022, making them an easy target when financial crime is suspected. But fighting fincrime isn’t the sole responsibility of banks, argues Samar Pratt of Exiger in London, who says a flawed approach allows financial crime to persist within the global system. Global...