Regulatory Compliance

Perspectives on topics that impact regulatory compliance

Regulatory Compliance Hero
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The Few, the Proud, the Protected — Provisions in SCRA That Financial Institutions Must Be Aware Of

SCRA stands for the Servicemembers Civil Relief Act. The history of the SCRA can be traced back to a Civil War moratorium that protected Union soldiers and sailors from collection actions, divorce proceedings, and other legal issues during wartime. These protections resurfaced in 1918 with the Soldiers’ and Sailors’ Civil Relief Act. The Act was […]

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J.P. Morgan, Visa, and Deutsche Bank Will Use Confirm and DLT

The Scene You’re a rising middle-management executive walking into your NYC office, holding a cup of coffee purchased from a street vendor. Right upon booting up your PC, a message from your largest, most demanding client pops up, stating that they want to send wires to multiple vendors – who, of course, all use different […]

Federal Banking Regulators Seek Comments for Additional Capital for Large Banks

Seeking additional arrows in their quiver against large bank failures, on October 14, 2022, the Federal Reserve Board (FRB) and Federal Deposit Insurance Corporation (FDIC) published an Advance Notice of Proposed Rulemaking (ANPR). The ANPR is intended to solicit public input regarding whether an extra layer of loss-absorbing capacity could improve optionality in resolving a […]

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Federal Reserve Issues Supervisory Letter on Crypto Activities for Banks

Similar to what the OCC issued in December 2021, in August 2022, the Federal Reserve Board (FRB) issued a Supervisory Letter outlining the steps FRB member banks should take prior to engaging in crypto-asset-related activities, such as assessing whether such activities are legally permissible and determining whether any regulatory filings are required. Additionally, the Supervisory […]

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An Interview With Two Billionaires In 2042

A metaphorical interview about the collapse of NFTs and what it possibly means for the future. Good morning.  Today, financial correspondent I.D. Futchermann will be interviewing legendary finance executive Richard Tan Yu. I.D Futchermann: Let’s start with you, Richard. How did you get started? Richard Tan Yu: Well D, after graduating as a history major […]

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Moving to One Minute TRACE Reporting: A Review of FINRA Proposed Changes to Rule 6730

Background FINRA has been collecting and disseminating fixed income transaction information through TRACE since 2002. Fixed income markets have continued to change dramatically since 2002, becoming more global while an increasing percentage of trades are made on or by electronic trading platforms. With the move to electronic trading and increased trade volume, FINRA has been […]

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Non-Fungible Tokens (NFTs): You Never Forget Your First Time

Would you trust an electrician who lived in the dark? A plumber who didn’t have indoor running water? A digital asset subject matter expert and program manager who didn’t own a non-fungible token? Toward solving that last one, I thought it would be helpful for our readers to see step-by-step, my screen as I acquired […]

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7 Considerations for the Data Acquisition Sourcing Stage of a Data Lineage Solution Implementation

Data lineage is the process of understanding, recording, and visualizing metadata as it flows from the originating data source to consumption. Using a data lineage tool can expedite the processes, however, it is a common misconception that a data lineage tool can automatically generate data lineage between several applications with the push of a button. […]

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What Is Not Considered a TRACE-Eligible Security and What Should Not Be Reported

A TRACE-eligible security does not include a debt security that is issued by a foreign, sovereign government or a money market instrument. A money market instrument is, other than a U.S. Treasury Security, a debt security that at issuance has a maturity of one calendar year or less, or if an agency or government-sponsored enterprise […]

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Accessibility Testing in the Product Development Lifecycle

Final installment of a 4-part series Recently I came across a comment from Lori Samuels, Senior Director of Accessibility at NBCUniversal, that stopped me in my tracks, “You can’t test your way to great user experience, you have to design your way there.” I completely agree. On the other hand, evaluating user experiences for accessibility […]

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What Information Must Be Included in a TRACE Trade Report? (Part 5 of 6)

Because the purpose of TRACE is to help facilitate transparency in the U.S debt market, each TRACE trade report is required to contain the following information:  Committee on Uniform Securities Identification Procedures (CUSIP) number, or if a CUSIP number is unavailable at the time of execution, a similar numeric identifier. Examples include a mortgage pool […]

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The Architecture of Stablecoins

In a recent speech and interview with the Institute of International Economic Law at Georgetown University, current Acting Comptroller of the Currency Michael J. Hsu gave numerous remarks on the architecture of stablecoins. According to the Comptroller, the architecture for a stablecoin system can be viewed through the lens of three key policy issues: Stability […]

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