Reading this on a mobile device? Try our optimized mobile version here:

August 23, 2012
Sign upForwardArchiveAdvertise
News for operations and technology executives in financial services

  Top Story 
  • Crisis boosted financial industry's efforts on LEIs
    Some market participants pushed for unique global identifiers for each legal entity before the financial crisis, but the movement didn't gain momentum until regulators and financial firms untangled transactions involved in the crisis. "We are finally getting our industry on the pathway to underlying infrastructure standards," said Michael Atkin of the Enterprise Data Management Council. "It is a marvelous example of regulatory cooperation, although it has been a ridiculously long time getting here." Learn more at SIFMA's Legal Entity Identifier Resource Center. Forbes (8/21) LinkedInFacebookTwitterEmail this Story
  • Other News
5 Cures for Business Growing Pains
A growing business is a successful business, but it comes with its own set of complications. Growing pains can arise from new employees, added roles and responsibilities, and a premium on office space. Read this informative e-book for five practical tips to managing your growing office space.
  Operations Update 
  • Demand for "regulatory choice" is noted in CME's European plans
    CME Group says its decision to establish a London-based derivatives exchanges is a response to increased demand for "regulatory choice" by trading firms. As policymakers around the world revamp the rules governing the market infrastructure, CME says, it has become more important for providers of that infrastructure to offer options. "Clients should not have to choose to trade with us in the U.S. regulatory environment, or not to trade with us at all. That is not a real choice," CME's Derek Sammann says. Financial News Online (U.K.) (subscription required) (8/20) LinkedInFacebookTwitterEmail this Story
  • Commentary: CICI utility is a step in the right direction
    A utility launched by Depository Trust & Clearing and the Society for Worldwide Interbank Financial Telecommunication for the Commodity Futures Trading Commission is a step forward, International Financing Review Editor-at-Large Keith Mullin writes. The CFTC Interim Compliant Identifier utility "will end up as an important component of the new federated reporting regime for global [over-the-counter] derivatives trading," Mullin writes. International Financing Review (free content) (8/23) LinkedInFacebookTwitterEmail this Story
  • Other News
  Technology Update 
  • Commentary: HFT risks need to be managed, but expect errors
    Broadway Technology Chief Technology Officer Joshua Walsky and CEO Tyler Moeller argue there is no way to ensure software will be error free, but there are ways to manage risks. "Given the complexity involved, no amount of testing will guarantee that today's trading systems operate flawlessly," Walsky and Moeller write. "Errors are inevitable, and it's time the industry treated them that way. We must recognize system risk -- the potential for losses due to system errors -- as a foreseeable but manageable threat, on a par with credit and market risks and deserving of similar analysis and protections." The Wall Street Journal (8/21) LinkedInFacebookTwitterEmail this Story
  • Other News
  Regulatory and Legislative Update 
  • SEC enforcement chief discusses Dodd-Frank and other changes
    Robert Khuzami, enforcement chief at the Securities and Exchange Commission, discusses a variety of initiatives the agency is implementing, including its revamped whistleblower program, changes mandated by the Dodd-Frank Act, and cooperation, deferred prosecution and non-prosecution agreements. Khuzami said one of the biggest challenges his department faces is the increased workload resulting from the Dodd-Frank law. Learn more at SIFMA's Dodd-Frank Rulemaking Resource Center. (subscription required) (8/17) LinkedInFacebookTwitterEmail this Story
  SIFMA News 
  • SIFMA Social Media Seminar 2012 -- Oct. 15 - NYC
    SIFMA's Social Media Seminar is back. In the ever changing world of interactive technology, SIFMA is proud to continue its enlightening and informative Social Media Seminar series. The rapid growth of social media channels has created opportunities and challenges for broker-dealers and financial advisors interacting with investors and clients. This half-day event will feature in-depth panels on the tactical uses of social media by marketers, financial advisors, and business professionals along with the latest legal and compliance regulatory changes, vendor solutions, and technology advancements. LinkedInFacebookTwitterEmail this Story
  • Sign-up now: Industry-Wide Business Continuity Test -- Oct. 27
    As part of the ongoing financial industry backup-site testing initiative that began in 2003, SIFMA leads an annual industry-wide business continuity test every October. Registration is now open for the Oct. 27 test. This is a critical exercise that highlights our industry's ability to operate through a significant emergency using backup sites, recovery facilities and backup communications capabilities across the industry. SIFMA encourages all firms to participate in the critical industry-wide business continuity test every October. LinkedInFacebookTwitterEmail this Story
SIFMA Resources  |  Advocacy  |  Educational Programs/Conferences  |  Newsroom

Legislative and Regulatory Activity  |  Member Committees  |  Newsletters

Play by the rules, but be ferocious."
--Phil Knight,
American businessman

LinkedInFacebookTwitterEmail this Story

Subscriber Tools
Print friendly format | Web version | Search past news | Archive | Privacy policy

Sales Account Director:  Abiy Bekele (212) 450-7919
A powerful website for SmartBrief readers including:
 Recent SIFMA SmartBrief: Operations and Technology Edition Issues:   Lead Editor:  Sean McMahon
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
© 1999-2012 SmartBrief, Inc.® Legal Information