A vast set of rules known as MiFID II will impose unprecedented transparency on traders and seek to curb conflicts of interest.
New CFTC guidance determines that Chief Compliance Officers will be required to report directly to a board director or senior officer.
The need for improved transparency is pushing Asian asset managers to use more sophisticated technology than they’ve ever used before in the management of their portfolios and to boost the overall efficiency of their businesses.
Data management is evolving as a critical business function and properly identifying financial instruments is now a top priority for data and risk management professionals.
IT organizations put great focus into drawing up their outsourcing contracts, but those agreements alone do not guarantee satisfactory outcomes.
That tally is set to increase in the coming years as European and Asian regulators catch up with their more aggressive U.S. peers.
A recent New York cyber-security regulation requires a more rigorous use of encryption when transmitting sensitive data to regulators.
It is now widely recognized that to have effective controls over enterprise wide data, financial institutions must first gain control of data governance.
The financial industry may be starting to breathe easy at the thought that the new U.S. administration will chip away at Dodd Frank but this news provides no real relief for compliance professionals.
After decades of outsourcing IT processes and staff, financial institutions will need to bring their information security responsibility back in-house.