Sacred Heart University meets the world according to GARP

When Sacred Heart University’s Jack Welch College of Business learned in October that it had been accepted as an academic partner by the Global Association of Risk Professionals, the Jersey City-based organization that grants Financial Risk Manager certification to financial services industry executives, it found itself in a rather exclusive group. “The FRM status is […]

CFTC Assesses its Oversight of Registrant’s Cybersecurity Policies

A performance audit of the U.S. Commodity Futures Trading Commission’s (CFTC) policies and procedures for reviewing CFTC registrant’s cybersecurity polies was recently posted online. The goal of the audit was to reduce the cybersecurity risks of the financial organizations that are overseen by the CFTC. The audit was conducted by the CFTC’s Office of the […]

Is the Grass Greener at RIAs?

Wirehouse advisers should survey the landscape before making the jump from big brokerage to small shop You’re a wirehouse adviser, sitting at your desk, digesting the latest pay cut. You won’t starve during 2017, but you’re fed up with your shop. The corporate bureaucrats are either nibbling away at your W-2 income—or mummifying you in […]

The Potential New CFTC Chair Suggesteth and the Current CFTC Chair Revieweth

During a speech last week before ISDA’s Trade Execution Legal Forum, Commissioner J. Christopher Giancarlo gave a preview of some of his potential actions if he becomes Acting Chairman of the Commodity Futures Trading Commission, as expected, on or before the inauguration of President-elect Donald Trump. Regarding recently re-proposed Regulation Automated Trading, Mr. Giancarlo reiterated […]

CFTC fines Societe Generale for failure in SWAP reporting

French investment bank Societe Generale has agreed to pay a $450,000 fine for its failure to properly report nearly 54,000 transactions, the Commodity Futures Trading Commission has announced. Paris-based Societe Generale violated the Commodity Exchange Act, 7 U.S.C.A. § 1, and various CFTC rules when a software update caused it to misreport the transactions, the […]

Morgan Stanley $250M Team Heads to Raymond James

Raymond James, the top recruiter for two quarters in a row now, has nabbed an independent team of advisors who managed $250 million at Morgan Stanley, InvestmentNews writes. Mark Rhoades and George Livanos are affiliating their firm, the Broadview Group, with Raymond James Financial Services, the independent broker-dealer of Raymond James, according to the publication. […]

SEC Adopts Significant Amendments to Form ADV

As we discussed in our Winter 2015 NewsWire article, Reminder: The SEC Expected to Act on Proposed Amendments to Form ADV in 2016, the SEC has adopted certain significant amendments to Form ADV, which is used by investment advisers to register or file as “exempt reporting advisers.” [1] The SEC’s actions follow the issuance of […]

Regulators concerned about smart contract oversight challenges

The Chamber of Digital Commerce’s Smart Contracts Symposium this week included a panel that focused its attention on blockchain smart contracts and the difficulties regulators could face as they try to exercise their oversight power. The panel included two representatives from U.S. regulatory agencies: the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading […]

Follow The 13GDs: Boaz Weinstein’s Saba Capital Management Just Disclosed New Clough Global Dividend & Income Fund Position

The New Boaz Weinstein’s Saba Capital Management Holding in Clough Global Dividend & Income Fund Saba Capital Management filed with the SEC SC 13G form for Clough Global Dividend & Income Fund. The form can be accessed here: 000106299316012452. As reported in Boaz Weinstein’s Saba Capital Management’s form, the filler as of late owns 9.14% […]

CFTC Extends Reporting Relief for Certain Swap Dealers

The relevant rule concerns non-U.S. swap dealers and major swap participants established in foreign jurisdictions. The requirement looming next week for certain CFTC-registered swap dealers (SD) and major swap participants (MSP) has prompted the U.S. Commodity Futures Trading Commission (CFTC) to issue a time-limited no-action letter today that extends temporary relief from certain swap reporting […]