Regulators

IRS: Get Your Data Right on FATCA and QI Certifications (Or Else)

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The US Internal Revenue Service is turning tax operations and compliance departments into data and paperwork geeks when it comes to meeting their requirements for FATCA and QI. Did your tax operations department withhold the correct amount of tax for the right account and file the form correctly by deadline? That’s what an IRS auditor […]

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IRS: Get Your Data Right on FATCA and QI Certifications (Or Else)

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The US Internal Revenue Service is turning tax operations and compliance departments into data and paperwork geeks when it comes to meeting their requirements for FATCA and QI. Did your tax operations department withhold the correct amount of tax for the right account and file the form correctly by deadline? That’s what an IRS auditor […]

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Cryptoasset Valuation: Fair Value or Fair Game?

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Fair value– the term used by accountants to refer to the correct valuation of assets for financial reporting purposes — should’nt be taken at face value by fund managers or investors when comes to cryptoassets. Anyone who comes to the table unprepared for a potential dispute is foolish as shown in a recent lawsuit involving […]

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Cryptoasset Valuation: Fair Value or Fair Game?

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Fair value– the term used by accountants to refer to the correct valuation of assets for financial reporting purposes — should’nt be taken at face value by fund managers or investors when comes to cryptoassets. Anyone who comes to the table unprepared for a potential dispute is foolish as shown in a recent lawsuit involving […]

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Unique Product IDs: Next Challenge for Swaps Reporting

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Data operations, trade desk and regulatory reporting managers may soon have gear up for new administrative tasks — and potentially extra fees– when reporting their over-the-counter derivatives transactions to trade repositories using unique product identifiers. The UPIs mark the latest in an array of codes financial firms and trading platforms must use to describe the […]

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Unique Product IDs: Next Challenge for Swaps Reporting

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Data operations, trade desk and regulatory reporting managers may soon have gear up for new administrative tasks — and potentially extra fees– when reporting their over-the-counter derivatives transactions to trade repositories using unique product identifiers. The UPIs mark the latest in an array of codes financial firms and trading platforms must use to describe the […]

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SS&C’s Win of Trade Secrets Suit Highlights Hiring Risks

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SS&C Technologies’ recent US$44 million jury verdict in a lawsuit against Clearwater Analytics has put Wall Street’s legal and human resource managers on alert to protect their firms from the receipt of trade secrets when hiring key employees from the competition. “HR and legal departments are a company’s first line of defense against litigation from […]

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SS&C’s Win of Trade Secrets Suit Highlights Hiring Risks

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SS&C Technologies’ recent US$44 million jury verdict in a lawsuit against Clearwater Analytics has put Wall Street’s legal and human resource managers on alert to protect their firms from the receipt of trade secrets when hiring key employees from the competition. “HR and legal departments are a company’s first line of defense against litigation from […]

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Consolidated Audit Trail: Those Messy Data Linkages

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US brokerage operations managers are quickly turning their attention to how they will meet the cumbersome requirements for data linkages now that the Financial Industry Regulatory Authority (FINRA) has been stepped in at the eleventh hour to operate the new consolidated audit trail (CAT). The initial phase-in of CAT — 2a and 2b– starting in […]

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SEC: Your Words Count in Suspicious Activity Reports

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Anti-money laundering compliance managers at US clearing brokers will need to take a closer look at their process for when they file suspicious activity reports and what they say in light of a recent court ruling involving penny-stock clearing broker Alpine Securities. In granting summary judgment in favor of the US Securities and Exchange Commission’s […]

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