Regulatory changes may differ, but all seem to have one thing in common: the requirement that sell side firms collect more and more data, documents and affirmations from their clients.
For the first time since the 2008 financial crisis, financial institutions have begun to reduce headcount in compliance.
While MiFID II does not directly apply to non-EU banks and brokers, it carries material implications for non-EU firms carrying out trade and order flow for their EU clients.
While MiFID II does not directly apply to non-EU fund managers, it carries material implications for non-EU firms mandated to manage money by an EU firm, investing with an EU fund manager, or using an EU broker or venue for execution.
Banks, insurers and capital markets firms are continuing to strengthen the structures needed for regulatory compliance — particularly their digital and technological capabilities.
To proactively address existing challenges, trading desks and business lines must view the FRTB as an encouragement to make changes.
The SEC expects an investment adviser to disclose to clients the factors it takes into account when choosing brokers, including soft-dollar arrangements.
For some U.S. CLO managers it simply wouldn’t make sense to comply with European risk-retention rules if similar restrictions are rolled back by Congress as part of the Trump administration’s pledge to dismantle Dodd-Frank.
New CFTC guidance determines that Chief Compliance Officers will be required to report directly to a board director or senior officer.
Separately managed accounts aren’t new but investment managers continue to be interested in understanding how they can support good governance practices.