Derivatives clearing organizations, designated contract markets, swap execution facilities (SEFs), and futures commission merchants (FCMs) have been put on notice by the Commodity Futures Trading Commission (CFTC) that its Divisions of Clearing and Risk, Market Oversight, and Market Participants have some concerns about 24/7 trading, clearing, and settlement. Those concerns form the basis for a… Read More >>
Would You Let a Robot Mow Your Lawn?
Would you let an A.I.-based, battery-operated robotic lawn mower cut your grass, especially if you have a large backyard or own a few acres? Despite soaring inflation rates, you might be inclined to embrace robotics for menial chores, especially if you received a particularly good bonus for 2025. The Wall Street bonus pool, based on trading,… Read More >>
Can Your Bonus Help with Barbecue Season?
It feels as if this year has been moving at a faster pace than usual, as some sectors, such as Wall Street, are suddenly in the post-bonus season. While the traditional bonus-giving season has ended, an annual estimate from Thomas P. DiNapoli, comptroller for New York State, quantifies that for many on Wall Street, it… Read More >>
The CAT System Faces Scrutiny Again
The controversial Consolidated Audit Trail (CAT) will remain under scrutiny by the Securities and Exchange Commission even though the SEC recently finalized a set of cost-savings and related measures intended as ways to control the big data surveillance system. The regulator also implemented exemptive relief from certain requirements under the Securities Exchange Act of 1934…. Read More >>
Bill Stone Says A.I. Must Prove Its Value
One of the keys to understanding the full impact of a disruptive technology is to use history as a guide. A case in point is the phenomenon of A.I.-based technologies that promise to overhaul or at least enhance the systems that run the front-, middle-, and back-offices of financial services firms operating in global capital… Read More >>
Trump’s EO Could Shake Up 401(k) Portfolios
Financial planning managers for retirees and others might get the green light and new guardrails from federal officials, helping them include alternative assets, such as private equity, real estate, and digital assets, in 401(k) portfolios, as President Donald J. Trump recently signed an executive order (EO) to that effect. “More than 90 million Americans participate… Read More >>
‘Crypto Week’ Marks the Arrival of Digital Assets
The powers that be in the federal government are facilitating digital asset and crypto projects, tokenization efforts, and cryptocurrency legislation and regulation, and have even declared that the week of July 14 as “Crypto Week.” Yet SEC Commissioner Hester M. Peirce, who generally favors innovation for digital assets, has made a regulatory declaration that will… Read More >>
Ex-Goldman Sachs MD Sent to Prison via 1MDB Scandal
The wheels of justice in the U.S. appear to be a little rusty, but they still run, and every once in a while, they remind us of a major scandal or two. This is proving to be the case for Tim Leissner, a former chairman and participating managing director (MD) for Southeast Asia at Goldman… Read More >>
Paul Atkins Will Drive a New Era for the SEC
Earlier this month, the U.S. Senate confirmed Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC) by a 52-to-44 vote that enables Atkins to finish the remainder of former SEC Chair Gary Gensler’s term, which expires June 5, 2026. (Atkins was officially sworn in on April 21 and can stay onboard… Read More >>
‘ChatGIPS’ Brings Together A.I. & Industry Standards
ChatGPT, the well-known chatbot system using artificial intelligence (A.I.) and developed by OpenAI, has crossed paths with the Global Investment Performance Standards, or GIPS, which are the voluntary ethical guidelines for performance measurement and client reporting created and maintained by the CFA Institute, and the ChatGIPS chatbot now exists in the world. Just to remind… Read More >>
