Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

News & Commentary
Content tagged with Compliance posted in June 2012
Page 1 / 2   >   >>
Can Regulators Realistically Enforce the Volcker Rule?
News  |  6/30/2012  | 
As regulators gear up to phase in the Volcker Rule -- an element of the Dodd-Frank financial reform package -- experts say a myriad of obstacles may keep the law from functioning as intended.
FINRA Reports $84 Mln Fiscal Year Loss
News  |  6/29/2012  | 
The Financial Industry Regulatory Authority reported an $84 million loss for its 2011 fiscal year, with weak industry revenue, trading volume and low investment returns among the factors contributing.
Nomura Halves CEO Pay in Bid To Close Insider Probe
News  |  6/29/2012  | 
Nomura Holdings admitted to sweeping breaches of safeguards on confidential client information and will slash top executives' pay and briefly shut an equity sales desk as Japan's largest brokerage seeks to resolve a damaging insider trading probe.
FINRA Reports $84 Mln Fiscal Year Loss
News  |  6/29/2012  | 
The Financial Industry Regulatory Authority reported an $84 million loss for its 2011 fiscal year, with weak industry revenue, trading volume and low investment returns among the factors contributing.
Facebook IPO Leads SEC to Scrutinize Nasdaq's Systems
News  |  6/29/2012  | 
The watchdog is investigating Nasdaq's computer systems and processes related to the flawed Facebook IPO on May 18. Will the regulator demand system upgrades?
Bank Interest Rate Rigging Scandal Widens
News  |  6/29/2012  | 
A scandal over the rigging of key interest rates could create a legal morass that may hamper the global banking industry for years, analysts said, as the head of Barclays fought to hold onto his job.
Peter Madoff's Guilty Plea Points to Perils of Being a Chief Compliance Officer
Commentary  |  6/28/2012  | 
Though he claimed to have no knowledge of his brother Bernard's multi-billion dollar Ponzi scheme, Peter Madoff has agreed to forfeit $143 billion and serve 10 years in prison.
"Big Boy" Email Nails Barclays in Libor Rate Fixing Case
News  |  6/28/2012  | 
"Done ... for you big boy," read a message sent by a Barclays banker to one of the lender's traders, who had asked him to fix a key lending rate artificially low.
Nasdaq to Detail Facebook Compensation to SEC Next Week
News  |  6/28/2012  | 
Nasdaq aims to file a plan next week with the U.S. Securities and Exchange Commission detailing how it will compensate market makers who lost money during the botched trading debut of Facebook, according to a person familiar with the matter.
Canada's Asset Managers Take Prudence in Risk Management to the Global Market
News  |  6/27/2012  | 
Considering the state of the global markets, you'd think Canadian firms would avoid trading outside their own country. But Canadian asset managers are looking to trade with the same preparedness that helped them survive the 2008 credit crisis.
Market Behavior Continues to Defy Logic When It Comes to Risk Management
Commentary  |  6/27/2012  | 
The sovereign debt crisis has been going on for months, even years, but firms are still unprepared to manage risk and take precautions as they face increased regulation and greater market volatility.
Beyond Dodd-Frank: The Dire Consequences of Inaction
Commentary  |  6/26/2012  | 
Many buy-side firms are only addressing the basic and imminent requirements for counterparty risk management. What are firms missing, and what will it cost the industry?
Research Firm Exec Arrested on Insider Trading Charges
News  |  6/26/2012  | 
U.S. law enforcement authorities said on Tuesday they arrested and charged an executive at an investment research firm as part of the government's wide-ranging probe of insider trading at the now-defunct Galleon Group hedge fund.
UK Central Bank Sees Signs of Slowdown in US, Emerging Markets
News  |  6/26/2012  | 
Britain's economic outlook has worsened markedly in the space of just six weeks due to the deepening euro zone crisis and signs that a global slowdown is taking root in the United States and emerging markets, the Bank of England said.
Inside The SEC’s Tech Department
News  |  6/25/2012  | 
The Commission has long been derided for being out-of-touch and poorly staffed, but the SEC has recently been quietly shaking things up in its technology department.
Low Latency Hype, Exchanges Go On Crisis Control, Dimon Talks Back, and More
Slideshows  |  6/22/2012  | 
Experts question the ongoing latency race, exchanges focus on crisis control and Dimon faces the House Financial Services Committee. Here is what people are talking about this week.
Ex-SocGen trader: Taking of Bank Code Not a Crime
News  |  6/22/2012  | 
U.S. appeals court judges in New York on Thursday expressed reluctance to grant a defense request to toss out the conviction of a former Societe Generale trader imprisoned for stealing proprietary computer trading code belonging to the French bank.
The No-Shame Game on Wall Street
Commentary  |  6/22/2012  | 
Despite this historic mess, bad brazen behavior is not showing any signs of leaving the scene.
Lawmaker Seeks Advice on IPOs After Facebook Fiasco
News  |  6/22/2012  | 
A congressional committee is asking the SEC for advice about whether rules governing initial public offerings need to be changed in light of Facebook's debut last month.
Moody's Cuts Rating of 15 Banks, Morgan Stanley Down 2 Notches
News  |  6/22/2012  | 
The ratings agency downgraded 15 of the world's biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities.
After Facebook IPO, Exchange Focus Shifts to "Crisis Management"
Commentary  |  6/21/2012  | 
After the Facebook IPO debacle, exchanges on a SIFMA panel said there is a need for better communication and crisis management, calling for a "hotline" when they are in the heat of battle.
Nasdaq OMX to Launch Interest Rate Derivatives Platform
News  |  6/21/2012  | 
Partnering with LCH.Clearnet, Nasdaq OMX's London-based NLX will offer competitive execution and and clearing fees as well as margin efficiencies, says the exchange operator.
Jamie Dimon In The House
Commentary  |  6/20/2012  | 
The fawning may not have been as egregious as last week's Senate testimony but the JPMorgan CEO showed how to smooth over a hellaciously bad bet.
Crisis Has Barely Begun: GLG Hedge Fund Manager
News  |  6/20/2012  | 
It's likely to last for at least another 15 to 20 years as major economies cut debt levels, according to Jamil Baz, one of Europe's most prominent hedge fund managers.
SEC Seeks Big 4 Audit Papers From China
News  |  6/20/2012  | 
The Chinese arms of all of the Big Four audit firms have been asked by U.S. regulators to turn over documents related to audits of China-based companies listed in the USA.
Dimon: JPMorgan Was Honest With Shareholders
News  |  6/19/2012  | 
JPMorgan Chase & Co Chief Executive Jamie Dimon said his bank was upfront with investors about its multibillion-dollar trading loss, even as regulators investigate whether JPMorgan disguised a dramatic rise in risk-taking.
Is Enforcing the Volcker Rule an Impossible Task?
News  |  6/19/2012  | 
In a Q&A with Advanced Trading, Nice Actimize's Stephen Anikewich explains why the Volcker Rule with be a major puzzle for banks and regulators alike, and whether this holds any relevance to the buy-side in the long-run.
Migdal Stock Exchange Services Joins the SunGard Global Network
News  |  6/19/2012  | 
The brokerage arm of Israeli investment group Migdal Capital Markets and member of the Tel-Aviv Stock Exchange now offers trading services and research on the Israeli markets.
SEC Chief Offers Regulatory Guide to JPMorgan
News  |  6/19/2012  | 
SEC Chairman Mary Schapiro will sketch a regulatory roadmap to JPMorgan Chase's recent huge trading loss, but will stop short of discussing the specifics of her agency's investigation with lawmakers.
US SEC Chief Offers Regulatory Guide to JPMorgan
News  |  6/19/2012  | 
U.S. Securities and Exchange Commission Chairman Mary Schapiro will sketch a regulatory roadmap to JPMorgan Chase & Co's recent huge trading loss, but will stop short of discussing the specifics of her agency's investigation with lawmakers on Tuesday.
8 Most Scandalous Statements From the Gupta/Stanford Trials
News  |  6/15/2012  | 
Rajat Gupta has just been convicted of insider trading, and Allen Stanford was sentenced to 110 years in prison in two of the biggest fraud cases of recent times. Here are some of the most shocking (and funniest) statements from their trials.
Allen Stanford Sentenced to 110 Years in Prison
News  |  6/15/2012  | 
Former billionaire Allen Stanford was sentenced to 110 years in prison on Thursday for running a $7 billion scheme in which he stole money from his investors to finance an extravagant lifestyle in the Caribbean.
CME Agrees to Turn Over MF Global Property
News  |  6/15/2012  | 
CME Group Inc reached an agreement to return $175 million in MF Global Holdings Ltd property, a trustee in the bankruptcy of the failed brokerage said on Thursday, $130 million of which is earmarked for former customers of the firm.
Rajat Gupta Guilty of Insider Trading
News  |  6/15/2012  | 
Former Goldman Sachs Group Inc board member Rajat Gupta was convicted on Friday of illegally tipping his hedge-fund manager friend Raj Rajaratnam with secrets about the investment bank, a major victory for prosecutors seeking to root out insider trading on Wall Street.
Rajat Gupta Guilty of Insider Trading
News  |  6/15/2012  | 
The former Goldman Sachs board member was found guilty of three counts of securities fraud and one count of conspiracy.
For One Protester, 'Occupy' Becomes a Way of Life
News  |  6/15/2012  | 
Seven months after Occupy Wall Street's eviction from Zuccotti Park, the round-the-clock encampment in lower Manhattan that was once the movement's center, one protester has created his own version of the communal living experiment in Brooklyn.
Retail Investors Flee, Lloyd's Work Ethic, Big Bodacious Data, and More
Slideshows  |  6/14/2012  | 
A few weeks after the botched Facebook IPO, experts continue to question the offering's long-term impact on the market, while Lloyd Blankfein gets some love and big data continues to grow. Here is what people are talking about this week.
Stanford Sentenced to 110 Years in Prison
News  |  6/14/2012  | 
Allen Stanford, the former Texas billionaire convicted of a $7 billion Ponzi scheme, was sentenced to 110 years in prison by a U.S. federal judge on Thursday.
The Top Dimon Testimony Quotes
Slideshows  |  6/14/2012  | 
Yesterday, JPMorgan CEO and Wall Street Golden Boy Jamie Dimon testified before the Senate Banking Committee and critics are calling the session a veritable love fest. Even though he was called to explain his firm's stunning $2 billion (and counting) bet gone wrong, not a silver hair was ruffled on the CEO's head. Here's a selection of killer quotes from the CEO himself, a US senator who actually challenged him and media commentators who watched as Dimon swatted away the softballs without breaki
Alliance Bernstein Began Clearing Swaps Ahead of Mandate
News  |  6/14/2012  | 
The buy-side firm is actively clearing interest rate swaps through LCH.Clearnet's SwapClear service so it can plan ahead for market structure changes and optimize its clearing solutions.
Dimon Shines At Senate Hearings
Commentary  |  6/13/2012  | 
No fireworks, no smoking gun - just a smooth Jamie Dimon before some Senators who clearly don't understand Wall Street.
Dimon Says JPMorgan Failed to Rein in Traders
News  |  6/13/2012  | 
JPMorgan Chief Executive Jamie Dimon told lawmakers that the bank's recent multibillion-dollar trading loss occurred because poorly managed traders embarked in January on a misguided hedging strategy they did not fully understand.
Protesters Greet JPMorgan's Dimon In DC
News  |  6/13/2012  | 
JPMorgan Chase & Co Chief Executive Jamie Dimon's highly anticipated appearance before lawmakers on Wednesday got off to a rocky start with multiple protesters disrupting the event.
A Sneak Peek at Jamie Dimon's Testimony
Commentary  |  6/13/2012  | 
The CEO of JPMorgan Chase has released his opening statement to Congress and while he comes clean he doesn’t say it was all THAT bad.
JP Morgan Knew London Traders Were A Problem
Commentary  |  6/12/2012  | 
Despite his sterling reputation for risk management, JP Morgan CEO Jamie Dimon tolerated risky trades, loose limits and changes in its VaR out of the London chief investment office.
How the SEC Could Pursue a Case Against JPMorgan
News  |  6/12/2012  | 
JPMorgan Chase's failure to timely disclose a major change in how it measured risk could become the centerpiece for an enforcement action by U.S. securities regulators as they probe the bank in connection with its multibillion dollar trading loss.
IMF's Lagarde Urges Euro Zone To Take 'Decisive Steps'
News  |  6/12/2012  | 
The head of the International Monetary Fund on Tuesday called for "decisive steps" by European policymakers to deal with the region's financial crisis.
Every Trader Needs An Entourage
Commentary  |  6/12/2012  | 
Mr. Dimon Goes to Washington
News  |  6/11/2012  | 
Jamie Dimon will appear before the Senate Banking Committee to explain how much the bank's trading losses have grown since the botched $2 billion hedging strategy was announced.
Tradition Chooses Financial Extranet from Orange
News  |  6/11/2012  | 
Orange's extranet been extended to include connectivity to swap execution facilities, and tailored to meet the U.S. regulatory requirements of the Dodd-Frank Act.
Page 1 / 2   >   >>


Register for Wall Street & Technology Newsletters
Video
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.