Content tagged with Compliance posted in May 2007
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Market for Wealth Management Compliance Systems Set to Jump 15% by 2011
Investment advisors are expected to spend the most as they are among the fastest growing but most regulated group of advisers. But hedge funds are also likely to increase spending.
SEC Makes Sarbanes-Oxley Compliance A Little Easier
In a move that will put a smile on the faces of large and small financial services firms, the U.S. Securities and Exchange Commission (SEC), has approved guidelines that will make it easier - and less costly - to comply with the Sarbanes-Oxley Act.
Meanwhile, the PCAOB body that oversees auditors, has voted on changes to audit rules too.
SIFMA Chief Lackritz Testifies Before Senate
Marc Lackritz, CEO of the Securities Industry and Financial Markets Association, and the voice of the U.S. broker-dealer community, testified last week in front of the Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Securities, Insurance and Investments. In his testimony, Lackritz reaffirm
Sarbanes-Oxley Costs Take a Nose Dive
Costs to comply with the Sarbanes-Oxley governance law dropped last year for the third year in a row, largely because managers have been spending less time on reviews.
CME Raises Bid for CBOT, But will ICE Prevail Given Regulatory Concerns?
With the Chicago Mercantile Exchange (CME) raising its bid to acquire the Chicago Board of Trade (CBOT) last week to break the Intercontinental's Exchange's chances of winning the bidding war, there is speculation as to whether the upstart electronic energy market and soft commodity exchange will up the ante, or allow the CME to prevail.
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Last Friday, the
SEC Imposter Alert
Not only do companies have to worry about stolen laptops, rogue employees and hackers -- now they also have to worry about fake SEC examiners.
SEC Regs Too Much? Try Trading in 103 Foreign Countries
With full implementation of Reg NMS just around the corner and MIFID looming in Europe, broker dealers on both sides of the Atlantic are busy navigating new regulations. But what are the regulatory implications for a broker dealer who executes deals with countries around the world?
New York-based securities firm Auerbach Grayson provides trade and post-execution services in 103 countries, representing more than 250 equity and equity derivatives
Wall St. Still Unprepared for Pandemic, SEC Mulls Action
The United States Government Accountability Office released a report (PDF) on its latest year-long study on the resiliency of U.S. financial markets last week, and the results were mixed. After examining seven critical exchanges, clearing organizations, and payment processors, the <
Cuomo Wins Big on Data Privacy
New York's Attorney General Andrew Cuomo last week obtained the first settlement in court under the state's data breach notification legislation. While the punishment of the exposed company, Chicago-based claims management firm CS Stars, LLC, was relatively light, the development opens up new legal vulnerabilities fo
Keep An Eye On Your Outsourcers
One message that rang out loud and clear from some of the compliance discussions today at the SIFMA show was: broker-dealers take outsourcing lightly at their peril. Broker-dealers retain regulatory responsibility for the functions they outsource. One of the regulators scrutinizing securities' firms outsourcing relationships is the NYSE. "There's been controversy over the rule we proposed [NYSE Rule 340]," said Grace Vogel, executive vice president, member firm regulation at NYSE Regulat
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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.
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