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 May 2012
A Modern Trend: Suite-Based Portfolio Management Systems Are The Latest Must-Have for RIAs
News  |  5/31/2012  | 
While many RIAs still struggle with manual, outdated or disparate systems, firms such as AZA Capital Management are transitioning to integrated suite-based portfolio management solutions to improve productivity, reduce costs and enable growth.
Dimon to Appear Before Senate Panel June 13
News  |  5/31/2012  | 
JPMorgan Chase and Co Chief Executive Officer Jamie Dimon will testify before the U.S. Senate Banking Committee on June 13 to discuss the bank's recent trading losses, the committee said on Thursday.
'Corzine Rule' Proposed for Futures Brokers
News  |  5/30/2012  | 
Under a proposed rule, futures brokers would need to get approval from a top executive before making big withdrawals from customer accounts.
Big Data's Role in Meeting Compliance and Regulatory Challenges
Commentary  |  5/29/2012  | 
Responding to the changes in the financial industry with yesterday's data capabilities will place financial institutions at a disadvantage. Utilizing big data technologies can help firms meet financial reporting requirements, says DataArt's Oleg Komissarov.
Cheated Again: Madoff Victims Receive Millions Less Than Trustee
News  |  5/29/2012  | 
Irving Picard’s fee is a huge $850 an hour. But is he worth his weight in gold?
From Facebook to Quants -- The Top Quotes of the Week
Slideshows  |  5/25/2012  | 
It wasn't all Facebook, Facebook, Facebook this week, although you could be excused for thinking that this was all anyone was talking about. Along with a badly bungled IPO, we found scintillating quotes about insider trading, quants vs. humans and a passionate defense of private equity from an unlikely source in a presidential election year. Enjoy AT's Top Quotes of the week -- and remember to have some fun this Memorial Day Weekend.
What, Me Worry? Alfred E. Neuman & Dodd-Frank
Commentary  |  5/24/2012  | 
Hiding your head in the sand is not an option with the most complex financial law in 70 years.
More Wall Street Execs Are Fighting The SEC
News  |  5/23/2012  | 
The SEC is currently actively litigating about 90 cases, up more than 50 percent in the past year.
SEC Looking at JPMorgan's Financial Reporting
News  |  5/23/2012  | 
The head of the U.S. Securities and Exchange Commission told lawmakers that her agency is probing JPMorgan Chase and Co's financial reporting and emphasized that big banks are required to publicly disclose changes to the models they use to measure risk.
China Embarks on Sweeping Brokerage Sector Reforms
News  |  5/23/2012  | 
China's securities regulator is planning to introduce a raft of reform measures to transform the brokerage sector, with an aim to create globally competitive investment banks, a regulatory document showed.
Facebook & Grexit Fallout: What's Next?
Commentary  |  5/23/2012  | 
An overblown IPO and a blown out European economy are bringing nothing but bad news to the US as we struggle to emerge out of a nearly four year-old recession.
Facebook, Zuckerberg, Banks Sued Over IPO
News  |  5/23/2012  | 
Facebook Chief Executive Mark Zuckerberg, and several banks led by Morgan Stanley were sued by shareholders, who claimed the defendants hid the social networking leader's weakened growth forecasts ahead of its $16 billion initial public offering.
CFTC Investigating JPMorgan's $2 billion Loss
News  |  5/22/2012  | 
The head of the CFTC confirmed that the regulator is investigating JPMorgan Chase's recent losses that may exceed $2 billion on trades tied to credit derivatives.
Clearing as a Catalyst: FX Forwards, NDFs and FX Swaps Join the Modern Age
Commentary  |  5/21/2012  | 
The more-robust capturing, reporting and clearing of FX forwards, NDFs and swaps should be counted as one of the more positive aspects created by the Dodd-Frank process, says Tabb Group CEO Larry Tabb.
Wall Street’s 9 Worst Bets Ever: From Nick Leeson to JPMorgan
Slideshows  |  5/21/2012  | 
In the wake of JPMorgan’s ill-conceived hedging strategy, which cost the bank its sterling reputation along with $2 billion and counting, Advanced Trading decided to highlight some of Wall Street’s worst bets ever.
MF Global Clients Bash Fat Fees, Seek Quick Wind-Down
News  |  5/18/2012  | 
The legal team winding down MF Global's bankruptcy estate, led by former FBI director Louis Freeh, estimates the fees charged by the team and other professionals have reached nearly $25 million since the bankruptcy was filed in October.
JPMorgan CEO Gets Crisis Marks But War Isn't Over
News  |  5/18/2012  | 
Shooting from the hip may have got Jamie Dimon into deep trouble -- shooting straight may help to get him out of it.
Ex-ECB Head Unveils Bold Plan To Save The Euro
News  |  5/18/2012  | 
Europe could strengthen its monetary union by giving European politicians the power to declare a sovereign state bankrupt and take over its fiscal policy, the former head of the European Central Bank said on Thursday in unveiling a bold proposal to salvage the euro.
JPMorgan's Dimon To Testify Before Congress
News  |  5/18/2012  | 
JPMorgan Chase & Co Chief Executive Jamie Dimon has agreed to testify before Congress over the bank's recent trading losses.
Casino Banking, Quant Schools, Bad Banks, Clawbacks and More
Slideshows  |  5/18/2012  | 
JP Morgan's $2 billion trading gaffe continues to make headlines, closely followed by Facebook's IPO, as well as the search for tech talent and quants. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week.
Lone Pine Capital Taps SS&C's Form PF Solution
News  |  5/17/2012  | 
Hedge fund chooses SS&C's web-enabled Form PF application for compliance with a new rule that requires investment advisers and private funds to provide data to the Financial Stability Oversight Council for monitoring systemic risk.
President Obama Wants Tough Rules After JPMorgan Loss: Report
News  |  5/17/2012  | 
The White House, following a trading loss of more than $2 billion by JPMorgan, wants to ensure a tough interpretation of a regulation aimed at preventing banks from making bets with their own money, The Wall Street Journal reported on Wednesday.
Regulators Should Define Hedges Narrowly
News  |  5/17/2012  | 
JP Morgan's reported loss on a "hedge" highlights the way the concept has been stretched in the last two decades to cover a broader range of transactions than before, many of which have little to do with the traditional concept of offsetting underlying price risks with like-for-like derivative positions.
Morgan Stanley Annual Meeting Disrupted by OWS Offshoot
Commentary  |  5/16/2012  | 
The "99% Spring" managed to drown out Morgan Stanley's shareholder vote count, but without a strategy aimed at steering elections, they won't force any meaningful policy changes.
JPMorgan Trade on Regulators' Radar in April
News  |  5/16/2012  | 
Regulators first raised concerns in April about trading positions that led to a $2 billion-plus loss at JPMorgan Chase.
What If Goldman Sachs Lost a $2 Billion Bet?
Commentary  |  5/15/2012  | 
Wall Street golden boy Jamie Dimon is in a PR nightmare - usually the realm of Goldman Sachs. What would the reaction be if the CEO in the penalty box were Lloyd Blankfein?
Romney Campaign Defends JPMorgan Loss As Market Risk
News  |  5/15/2012  | 
U.S. Republican presidential candidate Mitt Romney's campaign said on Tuesday JPMorgan Chase & Co's huge trading losses were an unfortunate part of a free market economy.
For Regulators, JP Morgan’s $2 Billion Loss Is Really Not A Big Deal
News  |  5/14/2012  | 
Besides stress tests, the Fed has not produced any alternative way of truly guaranteeing the stability of the financial system.
JPMorgan $2 Billion Loss Tips Wall Street's Hand on Volcker
News  |  5/14/2012  | 
JPMorgan's $2 billion trading loss shows how firms can still do proprietary trading, while still being in compliance with the Volcker rule.
JP Morgan's $2 Billion "Oops," the Euro's Demise, Millennials IT Workers, and More 
Slideshows  |  5/11/2012  | 
JP Morgan makes a $2 billion trading error, the Euro may still flounder and millennials are having a big impact on the modern IT workforce. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week.
Dimon's $2 Billion Bet Proves the Volcker Rule
Commentary  |  5/11/2012  | 
As Wall Street firms were making a case against Dodd-Frank and The Volcker Rule, JPMorgan loses big on a prop trading bet that blew up in their face.
Key Dates for Form PF Reporting
News  |  5/10/2012  | 
The dates every hedge fund, liquidity fund and private equity fund should have circled on the calendar.
CFTC Analysis Nixes Emergency Trading Curbs
News  |  5/10/2012  | 
The U.S. futures regulator has concluded it cannot currently use its emergency authority to impose trading curbs on speculators in the oil markets.
US CFTC Nears Swap Platform Vote, Delays 85 Percent Rule
News  |  5/10/2012  | 
The CFTC is aiming to finalize a rule to beef up regulations governing derivatives exchanges, after delaying a vote on one of the most controversial provisions.
Former CFTC Acting Chairman Appointed Head of DTCC’s U.S. Swap Data Repository
News  |  5/10/2012  | 
In his new role, he will be working with global regulators to harmonize various international reporting constituencies.
Is the End of Single-Stock Circuit Breakers Near?
News  |  5/10/2012  | 
The SEC's forthcoming 'limit up, limit down' provision could be a better way of dealing with erroneous trades and runaway markets. By Kerry Massaro Bowbliss
Bernanke: US Banking System Healthier After Crisis
News  |  5/10/2012  | 
Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. banking system has made substantial progress toward becoming healthier since the financial crisis but noted there still were problem lending areas.
Hedge Funds Must Search for Alpha Compliance, Too
Commentary  |  5/9/2012  | 
Hedge funds must alter their approach to compliance as they face a new level of scrutiny from both regulators and investors, says NICE Actimize's Stephen Anikewich.
The Tea Party Remains Strong As Occupy Wall Street Sputters
Commentary  |  5/9/2012  | 
As one movement continues to exert its political power, the other sputters.
Wells Fargo May Face Fair Lending Claims
News  |  5/8/2012  | 
The U.S. Department of Justice believes it has grounds to bring claims against Wells Fargo & Co for monetary damages and civil penalties under fair lending laws, the bank said in a securities filing.
Investment Bank, Cost Cuts Buoy HSBC
News  |  5/8/2012  | 
HSBC beat expectations with an underlying first-quarter profit of $6.8 billion as Europe's biggest bank saw a rebound in investment banking, growth in Asia and a fall in U.S. bad debts.
10 Ways Broker-Dealers Can Avoid The Wrath Of Regulators
News  |  5/7/2012  | 
Here are 10 best practices from Broadridge.
Flash Crash Anniversary Sees More Oversight
Commentary  |  5/7/2012  | 
Since the market's loss of nearly 1,000 points two years ago, circuit breakers have been activated with greater frequency.
Big Data Technology: Buyer Beware
News  |  5/7/2012  | 
Big data holds big promise. But the technologies needed to understand it come with a steep learning curve. Here's what you need to know before you buy.
How Broker-Dealers Can Avoid The Wrath Of Regulators
News  |  5/7/2012  | 
Here are 10 outsourcing best practices from Broadridge.
"Celebrating" Flash Crash's 2nd Anniversary; Can't Trust Brokers; and More Quotes of the Week
Slideshows  |  5/4/2012  | 
This week we "celebrate" the second anniversary of the Flash Crash, as well as hear about trust between investors and brokers, mobile security, economic uncertainty and telephone IVRs. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week.
FINRA Fines Four Brokerages $9.1 Mln Over ETF Sales
News  |  5/2/2012  | 
Citigroup Inc Morgan Stanley, UBS AG and Wells Fargo & Co agreed to pay more than $9.1 million in fines and restitution for selling leveraged and inverse exchange-traded funds "without reasonable supervision," the Financial Industry Regulatory Authority said.
May Day: Occupy Wall Street Calls a General Strike
Slideshows  |  5/1/2012  | 
On May 1st, the organizers behind Occupy Wall Street called for a general strike. Although no unions joined in, protesters revived their demonstrations against Wall Street. Here's a look at some of people who are pushing for change.
U.S. Lawmaker Bachus Cleared in Insider Trade Probe
News  |  5/1/2012  | 
An ethics investigation has found no evidence of insider trading violations involving Representative Spencer Bachus, the chairman of the U.S. House committee that oversees financial markets, his office said.

Register for Wall Street & Technology Newsletters
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.