Posts Tagged ‘regulatory compliance’

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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 […]

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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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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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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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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When and by Whom Should TRACE Transactions Be Reported? (Part 4 of 6)

So far in our 6-part blog series explaining the intricacies of TRACE, we have defined TRACE reporting, detailed the prep work to be done in order to effectively report TRACE transactions, and reviewed considerations for alternative trading systems. Now, for part 4 of the series, we will delve into the details of when and by […]

New Retention Policies in Microsoft Teams

Technology is a beautiful thing! It is crazy to think about how far we have come in the last 10 years with regards to our communication capabilities. With all these improvements and enhancements come the need for companies to adapt to that change. Many financial companies are still highly dependent on the traditional communication methods […]

How To Tell If You Need A Business Intelligence Program

The ideal candidate for a business intelligence (BI) program is a firm that is seeking greater operational efficiency, increased flexibility and interoperability, better management reporting, mitigation of regulatory or other risks, enhanced transparency, access and support, and the ability to make informed business decisions. It is a firm that believes the investment in operational efficiency, […]

Perficient Beefs Up Financial Services Through Acquisition

We’re only a couple days into the new year and are already making smart moves that further position our company as a leader in numerous industries, including financial services. Today, Perficient announced the acquisition of RAS & Associates, a Denver-based operations and management consulting firm focused on partnering with organizations to find the “how.” With […]

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Stress Tests: What Bank Bosses Worry About Most

If you work in financial services, you may have noticed that your executives aren’t getting enough sleep. They’re most likely tossing and turning at night, thinking about the shift to digital, stringent regulations, and, as The Financial Times recently said: “Bank bosses perhaps are worried most about not being publically humiliated by a failing grade.” […]

Servicing Customers In Financial Services With CX Technology

It’s no secret that customer satisfaction scores go up when customers consistently get what they want. When they have unanswered questions about your products and services, they’re not likely to become your biggest cheerleaders. And, chances are that if your prospects find themselves with questions that can’t be answered, they’re not going to convert. We […]

Banks Might Not Have To Cover Fraudulent Activity

I recently received a letter from American Express, warning me about a data breach that occurred with a third-party service provider several years ago. Although the letter doesn’t name the company who suffered the breach, it does mention that I’ve done business with them. The letter goes on to say American Express will continue to […]

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