Financial Regulatory Forum

Lessons from 2015: investor-centered compliance takes center stage in U.S.

January 13, 2016

By Julie Dimauro, Regulatory Intelligence

The course of regulatory developments in the United States in 2015 showed a decided focus on investor protections, tracking illicit financial flows, protecting data and ensuring overall cyber security. Furthermore, there was continuing discussion of the independence and financial commitment firms must give to compliance leadership.

COMMENTARY: Insurance mergers face U.S. regulatory uncertainty despite inversions clarification

December 28, 2015

By Lawrence Hsieh, Practical Law

Although the pharmaceutical industry has drawn a lot of the attention given to corporate inversions, the regulatory environment for these tax-saving corporate relocation transactions also affects insurance mergers.

IA Brief: Year-end chores list: do what you say

December 15, 2015

The looming turn of the calendar offers a good occasion for investment adviser compliance officers to make good on their promises.

Thomson Reuters Annual Cost of Compliance Survey

December 10, 2015

Thomson Reuters Regulatory Intelligence has launched its annual survey on the cost of compliance for regulated firms.

Spotlight hits technology platforms as U.S. mulls fiduciary standard

December 8, 2015

It was during a congressional hearing in June that U.S. Labor Secretary Tom Perez spoke about how technology companies can help investors in making better choices about their investments. Perez said several times that automated portfolio advice services, or “robo-advisors,” can help the government to meet its goal of getting firms to offer retail investors suitable products at an affordable price.

IMPACT ANALYSIS: Managing the risks of compliance outsourcing

December 1, 2015

By Julie Dimauro, Regulatory Intelligence

(Thomson Reuters) – As regulators increasingly tell companies to bolster their compliance programs, some of them are turning to outside experts to provide the creation or management of such programs by outsourcing all or parts of the chief compliance officer job.

COLUMN: Picture set to clarify for captive reinsurance regulatory muddle

November 24, 2015

By Lawrence Hsieh, Practical Law

NEW YORK, (Thomson Reuters) – The regulatory environment for captive reinsurance, the technique used by life insurance companies to leverage statutory reserves seen as redundant and free up capital for other purposes, may soon come to a head after being in flux since 2013 .

Spoofing or just fast trading? Chicago case helps unwrap mystery

November 19, 2015

By Richard Satran, Regulatory Intelligence

NEW YORK, (Thomson Reuters) – Compliance professionals were startled when a jury in the futures industry’s home base of Chicago convicted a veteran commodities trader of “spoofing,” a crime punishable by up to 25 years in prison but involving a kind of market manipulation once thought too vaguely defined to be prosecuted. It was surprising that a case of such complexity could be brought to such a conclusion, even more that jurors took just an hour of deliberation to do so.

IMPACT ANALYSIS: Ontario regulator’s review cites suitabilty, know-your-customer lapses at exempt market dealers

November 17, 2015

By Helen Chan, Regulatory Intelligence

ONTARIO, Canada (Thomson Reuters) – The Ontario Securities Commission has highlighted Know-Your-Customer (KYC) deficiencies as one of the significant compliance problems facing exempt-market dealers in Ontario. The annual report by the OSC’s Compliance and Registrant Registration branch (CRR) of the Ontario Securities Commission signals that the market regulator of Canada’s financial capital is becoming increasingly more concerned that inadequate KYC efforts by registrants is leading to exempt securities being sold to investors who fail to qualify under a prospectus exemption. (more…)

COMMENTARY: SEC needs scalpel instead of chainsaw in revising beneficial ownership rules

October 29, 2015

By Lawrence Hsieh, Practical Law

The U.S. Securities and Exchange Commission is considering whether and how to stop the regulatory arbitrage by shareholder activists of gaps in Securities Exchange Act disclosure requirements, which activists have exploited to gain significant stakes in public companies before incumbent management notices. Shareholders may be best served if the SEC takes a scalpel rather than a chainsaw to address the issue. (more…)