The Financial Industry Regulatory Authority (FINRA) has fined Morgan Stanley $875,000 for failing to provide accurate trade data (also known as “blue sheets”) in an automated format when requested to do so by FINRA and the SEC. The regulator found that the bank had experienced significant failures in its blue sheet systems between 2014 and 2017, and made numerous deficient or inaccurate submissions. Morgan Stanley, which has not admitted or denied the charges, claims that human error was the cause of the inaccurate submissions.
A-Team Insight Briefs
Asset managers, hedge funds, insurance firms, and other buy-side firms globally are becoming more active in their approach to market surveillance, as regulatory pressure to up their game mounts. Buy-side firms are now building out their surveillance infrastructure as they seek to respond to the requirements posed by Dodd-Frank, MiFID II and the Market Abuse...
In these days of unprecedented economic pressure and accompanying financial volatility, regulators around the world are realigning their priorities and rapidly shifting their strategies to support institutions through the ongoing crisis. In this regular weekly feature, we keep you up to date on the latest regulatory news, responses and approaches – from deadline delays to...
As investment management firms take on more responsibility and control over core operational functions, A-Team has seen demand for a more buy-side oriented event focused on data and data management. The inaugural DMS Boston will take place in June 2020, and will focus on topics of interest to buy-side practitioners.
High-profile and punitive penalties handed out to large financial institutions for non-compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations have catapulted entity data management up the business agenda. So, too, have industry and government reports on the staggering sums of money laundered on a global basis. Less apparent, but equally important, are...