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 March 2013
Page 1 / 2   >   >>
SAC Capital: When The Feds Came Knocking
Slideshows  |  3/29/2013  | 
Early on Friday March 29, federal agents arrested the portfolio manager of SAC, the largest hedge fund in the country. Will SAC Capital founder Steve Cohen, who just enjoyed a week of retail therapy which saw him snap up mansions and Picassos, be next to see the Feds come knocking? Here’s a timeline of events that have put SAC Capital at the center of an insider trading scandal.
Cyprus Says Threat Contained, No Plan to Leave Euro
News  |  3/29/2013  | 
The president of Cyprus said on Friday the risk of bankruptcy had been contained and the country had no intention of leaving the euro, in a speech laden with criticism of Europe's currency union for "experimenting" with the island's fate.

Commission Considers Good and Bad of British Banking
News  |  3/29/2013  | 
The Archbishop of Canterbury has spent the run up to Easter contemplating the ethics of the trading floor and ways to curb greed in the City of London.

More Trouble for Cohen's SAC Capital as Steinberg Indicted in NY
News  |  3/29/2013  | 
U.S. prosecutors on Friday charged Michael Steinberg, a veteran portfolio manager with Steven A. Cohen's $15 billion hedge fund, with engaging in insider trading in two technology stocks, the most senior SAC Capital Advisors employee to be charged in the government's long-running probe.

Closing In On SAC, FBI Arrests Portfolio Manager
News  |  3/29/2013  | 
Federal agents arrested the portfolio manager of the largest hedge fund in the country. After a week of buying mansions and Picassos, is SAC Capital founder Steve Cohen next?
Hedge Fund Titan’s Shopping Spree: Cohen’s $60M Bet on Hamptons Real Estate
Commentary  |  3/28/2013  | 
SAC Capital Advisors’ founder Steve Cohen purchased a home for $60 million with an ocean view in East Hampton last week, topping a frenzy of deal making amidst resolving a pending settlement of insider trading matters with the SEC.
Why Market Participants Should Invest In Post-Trade Settlement Best Practices
News  |  3/28/2013  | 
Regulatory change can dramatically improve the global post-trade environment. But in the meantime, market participants need to embrace industry best practices.
U.S. Court Doesn't Rule on SAC Capital's SEC Settlement
News  |  3/28/2013  | 
A U.S. judge ended a hearing on the U.S. Securities and Exchange Commission's proposed $602 million settlement with a unit of SAC Capital Advisors without making a decision on whether to approve it.
Investors Head Back to Safety of Bonds — Poll
News  |  3/28/2013  | 
Global investors grew more cautious this month, reacting to the crisis in Cyprus by adding to safe-haven bond positions, though cash buffers fell to a two-year low, Reuters monthly poll of asset managers showed on Thursday.
Industry Underprepared for OTC Derivatives Trading and Market Regulation
Commentary  |  3/27/2013  | 
Firms must realize that connectivity to SEFs and the various other OTC derivatives execution venues will be critical -- for both regulatory reasons and for getting ahead of the competition.
Dark Pools Open Up About Surveillance Methods
Commentary  |  3/27/2013  | 
Brokers operating dark pools have come out with more sophisticated methods for preventing trades at bad prices and profiling client behavior — both in response to buy side concerns and regulatory scrutiny.
Three More Charged in Insider Trading Probe
News  |  3/27/2013  | 
Federal prosecutors announced criminal charges against three new defendants in the government's broad-based insider trading probe.
HFT: Makings of an Evil Empire
News  |  3/26/2013  | 
Wall Street's reputation may be damaged, but don't blame all of the industry's woes on high-frequency trading.
EU Includes ISDA In Credit Derivatives Investigation
News  |  3/26/2013  | 
The International Swaps and Derivatives Association (ISDA) may have joined with investment banks to keep exchanges out of the credit derivatives market, European Union regulators said.
Mobile First Development Changing Trading Platforms in Forex Market
News  |  3/26/2013  | 
OANDA's newest mobile app responds to demands from mobile traders for functionality that matches or exceeds traditional desktop capabilities.
For The First Time In Decades, Investment Bankers See Pay Shrink
News  |  3/26/2013  | 
Average pay-per-head at U.S. and European investment banks has dropped compared to other sectors for the first time in a generation, according to new data.
Canada's Top Six Banks to Get Capital Surcharge as of 2016
News  |  3/26/2013  | 
Canada's banking watchdog said on Tuesday it sees the country's six largest banks as being of systemic importance to the domestic economy and that it will make them keep 1 percent more capital on hand starting January 2016 to protect them from financial disruption.

JP Morgan and Heuristics – Lessons from the Whale
Commentary  |  3/26/2013  | 
JP Morgan's decisions in handling the London Whale incident can be traced to a series of cognitive biases and limitations, writes Andrew Waxman, who analyzes bank executives' responses based on the work of psychologist Daniel Kahneman.
Citigroup Spinout Napier Park Picks Infrastructure Provider
News  |  3/25/2013  | 
In the wake of its spinoff from Citigroup as an internal hedge fund unit, Napier Park Global Capital chose Options' infrastructure-as-a service offering as its technology platform.
Ten Things Compliance Officers Need To Do In 2013
News  |  3/25/2013  | 
Last year financial firms put an almost unprecedented focus on risk, control and compliance. That trend looks set to continue as organizations deal with the fall-out of regulatory change, major fines, and more.
U.S. Regulators Approve Plan for Lost Facebook IPO Money
News  |  3/25/2013  | 
U.S regulators on Monday approved a plan to compensate market makers who lost money in a botched Facebook Inc public offering in May on the Nasdaq exchange.

Columbia University Professor Analyzes HFT
News  |  3/22/2013  | 
Based on what it calls 'the first meta-analysis of HFT,' Columbia Business School Professor Charles Jones finds that high frequency trading benefits liquidity and lowers trading costs, echoing other academic studies.
Cyprus Ruling Party Says Close to a Solution on Bailout Crisis within EU Rules
News  |  3/22/2013  | 
A solution to Cyprus's bailout crisis within the framework set down by the European Union may be possible within "the next few hours", the deputy leader of the island's ruling Democratic Rally party said on Friday.

Raj Rajaratnam Brother Charged with Insider Trading
News  |  3/22/2013  | 
Raj Rajaratnam's younger brother was indicted on charges of conspiring in the insider-trading scheme for which the founder of the Galleon Group hedge fund was convicted nearly two years ago, U.S. prosecutors announced on Thursday.

New Columbia Business School HFT Paper Is Disappointing
Commentary  |  3/21/2013  | 
The study by Charles Jones cite the usual benefits of HFT: enhanced liquidity and more efficient markets. But what about the conflicts of interest and order types designed specifically for the benefit of high frequency players?
ECB Gives Cyprus Bailout Ultimatum, Banks Face Cutoff
News  |  3/21/2013  | 
The European Central Bank gave Cyprus until Monday to raise billions of euros to clinch an international bailout or face losing emergency funds for its banks and inevitable collapse.

Regulator Finds Flaws in Deutsche Bank's Libor Supervision
News  |  3/21/2013  | 
German markets watchdog Bafin is set to tell Deutsche Bank of "organisational flaws" in how it supervised its contribution to the setting of inter-bank lending rates at the heart of the international rate-rigging scandal, sources familiar with the watchdog's investigation said.

HFT: A Clear and Present Danger?
Commentary  |  3/21/2013  | 
In January 2013, Congressman Edward J Markey declared that HFT represents a clear and present danger and should be curtailed immediately. Is he right?
Funding the Bad Guys – Winning the AML Battle
Commentary  |  3/19/2013  | 
Successfully preventing terrorist networks and drug traffickers from utilizing the financial system to launder money will require greater cooperation between banks and law enforcement.
Senate Banking Panel Approves Obama's SEC, CFPB Choices
News  |  3/19/2013  | 
A U.S. Senate panel voted to move forward two of President Barack Obama's choices to lead financial regulatory agencies, but his pick of Richard Cordray to lead the new consumer bureau likely still faces a tough path to final confirmation.

Cyprus Aims to Let Small Savers Out of Deposit Tax; Veto Still Likely
News  |  3/19/2013  | 
Cyprus's government proposed on Tuesday to spare small savers from a divisive levy on bank deposits but said it expects parliament to reject the measure, needed to secure an international bailout and avoid default and a banking collapse.

Big Banks on Track to Meet Basel Capital Rules Ahead of Time
News  |  3/19/2013  | 
The world's top banks have made big strides towards meeting tougher capital rules several years before full compliance is required, global regulators said on Tuesday.

Capital Markets Cloud Adoption: Food for Thought or Empty Calories?
Commentary  |  3/19/2013  | 
NASDAQ OMX conducted a survey of 44 capital markets firms and technology providers in February 2013, to determine cloud adoption rates, activity and existing concerns inhibiting adoption.
The CFTC Looks at HFT and Wash Trades, But Can They Prove It?
Commentary  |  3/18/2013  | 
Regulators worry that high speed trading firms that act as both buyer and seller in the same transaction, known as wash trades, could be inflating the volume and distorting prices, reported The Wall Street Journal and CNBC.
Ratings Agencies Come Under Fire from EU Watchdog
News  |  3/18/2013  | 
The European Union's markets watchdog has criticised the world's top three credit ratings agencies for a lack of transparency over how they evaluate banks and demanded more robust internal reviews of their methods.

U.S. Top Court Won't Hear Goldman Class Action Appeal
News  |  3/18/2013  | 
Goldman Sachs Group Inc suffered a defeat on Monday as the U.S. Supreme Court let stand a decision forcing it to defend against a class action lawsuit claiming it misled investors about the risks associated with mortgage securities.

Regs Investigate Whether High-Frequency Traders Are Distorting Markets
News  |  3/18/2013  | 
Regulators have launched an investigation into whether high-frequency traders are distorting stock and futures markets.
Senate Hearing Sheds Light on JPMorgan Whale Trade
Commentary  |  3/15/2013  | 
Senator Carl Levin grills Ina Drew and other bank execs, accusing them of changing VaR and hiding data on risky derivatives trade from regulators.
Fed Tells JPMorgan, Goldman To Improve Capital Plans
News  |  3/15/2013  | 
In a blow to two major Wall Street banks, the Federal Reserve told Goldman Sachs and JPMorgan Chase that they must fix flaws in how they determine capital payouts to shareholders.
Senate Report: JPMorgan Ignored Risks — Best Reactions
News  |  3/15/2013  | 
A blistering Senate report rakes JPMorgan Chase over the coals for ignoring risk and hiding losses caused by the notorious London Whale.
What Will Mary Jo White’s SEC Look Like?
News  |  3/14/2013  | 
President Obama's choice to run the SEC has her strengths and weaknesses - but what exactly will Mary Jo White's stamp be on the embattled financial regulatory agency?
JPM Senate Hearing: What's the Point of Beating a Dead Whale?
Commentary  |  3/14/2013  | 
Friday's hearing about JP Morgan's London Whale trade led by Senator Carl Levin is really about putting pressure on regulators to finish the Volcker Rule, Propublica's Jesse Eisenger tells Bloomberg TV.
Bloomberg Delivers Ultimatum to CFTC on Swaps Trading
Commentary  |  3/13/2013  | 
An attorney representing Bloomberg LP threatened to file a lawsuit against the U.S. regulator for unfair margin requirements on swaps trading rules, which give a competitive edge to exchange platforms over SEFs.
Ending Too Big To Fail Still a Work in Progress
News  |  3/13/2013  | 
Reforms to the world's financial system still fall short of ensuring that big and systemically important banks will not need to be bailed out by governments if they fail.
Sequester Chokes SEC, Regulator Funds
News  |  3/13/2013  | 
As the market burns up the DOW, the SEC and other regulators will see their budgets slashed during the sequester. What happens if the government shuts down?
State-Free Bank Safety Net Still Work in Progress-Regulators
News  |  3/13/2013  | 
Reforms to the world's financial system still fall short of ensuring that big and systemically important banks will not need to be bailed out by governments if they fail, regulators say.

SEC Nominee White Says Her Legal Work No Barrier to Job
News  |  3/12/2013  | 
Mary Jo White, President Barack Obama's choice to lead the U.S. Securities and Exchange Commission, told lawmakers considering her candidacy that her past legal work for big Wall Street clients would not impede her job at the agency.

New Opportunities For Hedge Funds
News  |  3/12/2013  | 
The door has opened for hedge fund admins — who, with few exceptions, continue to enjoy a view of the fund’s entire investment book — to offer new services traditionally provided by their prime broker.
Banking Supervisors May Seek to Simplify Capital Rules
News  |  3/12/2013  | 
Global banking regulators will examine whether their new rules forcing lenders to hold more capital to absorb any future losses should be simplified.
SEC Nominee White Promises 'Unrelenting' Enforcement
News  |  3/12/2013  | 
Mary Jo White, the nominee to head the SEC, tells lawmakers that she will bring a "bold and unrelenting" enforcement program to the agency.
Page 1 / 2   >   >>

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.