Financial Regulatory Forum

CFTC’s swap dealer rule for compliance chiefs: many questions in first “annual reports”

By Guest Contributor
October 1, 2014

By Henry Engler, Compliance Complete

NEW YORK, Oct. 1, 2014 (Thomson Reuters Accelus) - New rules governing swap dealers and the requirements for dedicated chief compliance officers are now more than a year in effect, and a new review of the so-called “annual reports” that dealers must submit to the Commodities Futures Trading Commission suggest there are still lingering questions over the roles and responsibilities of CCOs, particularly for non-U.S. dealers.

Effective training a weak link in many compliance programs – survey

By Guest Contributor
August 13, 2014

By Emmanuel Olaoye and Stuart Gittleman, Compliance Complete

NEW YORK, Aug. 13, 2014 (Thomson Reuters Accelus) - Firms, especially those in the financial services sector, have improved their compliance and ethics training programs but are still being challenged in measuring their programs’ effectiveness, two researchers told Thomson Reuters Compliance Complete on Wednesday.

New York state proposes regulatory framework for virtual currencies

By Guest Contributor
July 23, 2014

By Stuart Gittleman, Compliance Complete

NEW YORK, July 23, 2014 (Thomson Reuters Accelus) - The New York State Department of Financial Services (DFS) is seeking public comment on a proposed “BitLicense” regulatory framework for New York virtual currency businesses, DFS Superintendent Benjamin M. Lawsky said Thursday.

Forget HFT; “High Intelligence Trading” is the new frontier for technology, markets, regulation

By Guest Contributor
April 10, 2014

By Henry Engler, Compliance Complete

NEW YORK, Apr. 10, 2014 (Thomson Reuters Accelus) - While fast is good, smart is better, and with untold resources of computing power and memory banks in the clouds, the new frontier in electronic trading combines sophisticated intelligent software with rapid-fire processing, enabling traders to stay one step ahead of the regulators.

IA brief: Accuracy on assets reporting is crucial for upcoming amendment filing

By Guest Contributor
March 11, 2014

By Jason Wallace, Compliance Complete

NEW YORK, Mar. 11 (Thomson Reuters Accelus) - The end of March is a crucial milestone of the annual compliance program for most registered investment advisers and exempt reporting advisers (ERA’s).

Groups urge Congress to let SEC charge fees for adviser exams

By Guest Contributor
December 13, 2013

By Emmanuel Olaoye, Compliance Complete

WASHINGTON, Dec. 13 (Thomson Reuters Accelus) - A coalition of groups representing investment advisers and state regulators has asked Congress to support a bill that would let the U.S. Securities and Exchange Commission to charge investment advisers an annual “user fee” for its exams.

Largest U.S. banks see themselves in “regulatory spiral” with no clear end

By Guest Contributor
December 4, 2013

By Henry Engler, Compliance Complete

NEW YORK, Dec. 4 (Thomson Reuters Accelus) – Although five years have passed since the height of the financial crisis, top lawyers at some of the largest U.S. banks see themselves pitted in an escalating, and at times adversarial, battle with regulators, the end of which remains unknown.

SEC aims to loosen rules on foreign broker-dealers in U.S., official says

By Guest Contributor
November 26, 2013

By Nick Paraskeva, for Compliance Complete

NEW YORK, Nov. 26 (Thomson Reuters Accelus) - U.S. securities regulators are looking to loosen rules for foreign-broker dealers acting in the U.S. on a cross-border basis. The change would come in the wake of new policy being adopted to implement derivatives cross-border rules under Dodd-Frank. The reform was outlined by John Ramsay, Acting Director, Division of Trading and Markets of the Securities and Exchange Commission (SEC).

The future of the U.S. resolution regime: toward “a tale of two models”?

By Guest Contributor
November 25, 2013

By Bora Yagiz, Compliance Complete

NEW YORK, Nov. 25 (Thomson Reuters Accelus) - The U.S. Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) may be far from putting the final touches on titles I and II of the Dodd-Frank Act — the preparation of resolution plans within the framework of enhanced prudential standards, and the authority of FDIC to become the receiver of a failed non-bank financial or holding company and unwind it respectively. But comments by regulators and a conference in Washington last month held by the Federal Reserve Board and Federal Reserve Bank of Richmond on the topic reveal that some consensus is emerging on the structure and implementation of the resolution regime as well as its future course. (more…)

Compliance staff can help their firms by reflecting regulators’ expectations, SEC enforcer says

By Guest Contributor
October 16, 2013

By Stuart Gittleman, Compliance Complete

NEW YORK, Oct. 16 (Thomson Reuters Accelus) – Regulators and compliance and ethics officers share the goals of preventing unlawful or improper conduct and cultivating effective cultures that promote integrity and respect for the law, a Securities and Exchange Commission official said.