Regulations
Waters Wrap: On EMSs, regulation, and (among others) BlackRock Aladdin
Regulators in the US and Europe have turned their sights on execution management system providers. Anthony examines some of the questions the industry is trying to answer.
Citi’s internal cloud project gets open-sourced
Through Finos, a project that started internally to help Citi get a better handle on its cloud controls now includes the likes of Goldman Sachs, Morgan Stanley, RBC, BMO and LSEG.
UK pushes financial firms to adopt privacy-enhancing technologies
Lawmakers and vendors are set to usher in an era of mutualized data insights. Are banks ready?
Bulletproof building: DTCC, AWS debut app resiliency prototype
The cloud provider and industry utility have jointly released a prototype and guidelines for building resilient financial services applications.
Industry unsure of SEC’s new short-selling transparency rule
Does the SEC’s recent 10C-1a rule provide sufficient transparency while protecting traders’ short-sale positions from a GameStop-style backlash? The data will be key.
In ‘unusual’ move, Virtu fights $25m SEC fine for data safeguarding breach
Virtu disputes the regulator’s claim that employees had ‘unfettered’ access to consumer data.
Europe’s AI Act is taking shape. How will the UK respond?
As the EU pushes through a historic AI Act, its neighbor is left wondering how to keep up.
SEC squares off with broker-dealers over data analytics usage
The Gensler administration has ruffled feathers in the broker-dealer community with a new proposal seeking to limit their use of predictive data analytics. But at the heart of this deal is something far more seismic: one of the first attempts by the SEC…
Industry divided on whether Europe should delay FRTB
Most bankers prefer to keep to earlier start date, even though it puts continent out of sync with US.
Waters Wavelength Podcast: IBM on generative AI
This week, John Duigenan from IBM joins the podcast to discuss generative AI.
Derivatives Service Bureau allows alternative identifiers for OTC derivatives UPI
The numbering agency has partnered with SmartStream and ICE to cross-reference and map the underlying asset’s identifier to the relevant Isin.
Shall we compare thee to a multilateral trading venue?
As regulators confirm that perimeter guidance applies to tech firms, the focus shifts to enforcement.
BoE model risk rule may drive real-time monitoring of AI
New rule requires banks to rerun performance tests on models that recalibrate dynamically.
Antitrust complaint against Cusip can go forward, SDNY judge rules
The federal judge presiding over the ongoing class-action suit against Cusip Global Services, S&P Global, FactSet, and the American Bankers Association, has dismissed all complaints against the defendants except one alleging the quartet violated Section…
Dora ‘critical tech vendor’ designation could cast a wide net
Experts think cloud services, data providers and software firms are all in regulators’ sights.
Tomorrow’s institution cares more about its risk than its performance
Execs from BlackRock, BMO, and Ness Digital Engineering discuss the balancing act of the wildly shifting priorities each of their organizations contend with every day.
Waters Wrap: Regtech hype evolves—for better and worse
As fines levied by the FCA and SEC rise, so too has spending on 'regtech.' But Anthony warns that for the regtech space to evolve further in the future, it must first initiate changes to its ecosystem.
Pay now or pay later: Regtechs make play to spare banks steep fines
After a record year of fines issued by the SEC, financial services firms are rushing to implement regtech solutions that can help mitigate their financial exposures.
OK regulator? How AI became respectable for AML controls
Dutch court case pressures supervisors to accept new tech; explainability the key challenge
Index fees fatigue: Regulators, startups move in on the big 3 providers’ $5 billion business
Users of index data often complain about the fees they have to fork out, particularly to the likes of S&P, FTSE Russell, and MSCI. WatersTechnology examines the state of the industry and what will disrupt the status quo.
DTCC’s GTR: At the forefront of the evolution of the derivatives industry
DTCC explores the importance of effective user acceptance testing environments to the successful navigation of regulatory rewrites and an evolving regulatory landscape
SEC’s $5M Bloomberg BVAL fine targets ‘dark magic’ in fixed income pricing
Recent actions against Bloomberg and Ice for violations relating to evaluated pricing services suggest the US regulator may be setting the stage for stricter regulations to govern the sector.
Waters Wavelength Podcast: SteelEye’s Matt Smith on eComms surveillance
SteelEye CEO Matt Smith talks on the podcast about the regulatory landscape for electronic and voice communications compliance.
Consolidated tapes gain ground in 2022
Regulators in the US, UK, and EU moved to push forward market data efforts this year.