Jon Herrick’s Post

“SEBI to safeguard clients’ funds lying with stockbrokers and clearing members“ by Ketan Kini, Associate Director, Risk Advisory Services, ASA. #SEBI #InvestorProtection #ClientFunds #StockBrokers #ClearingMember #FinancialRegulation #MarketSafety #SEBISafeguards #InvestorSecurity #MarketIntegrity #FundsProtection #SEBIRules #MarketTransparency #FinancialMarkets #InvestorConfidence

Klaros Group co-founder and partner Brian Graham quoted in American Banker on the FDIC's proposed statement of policy on bank merger transactions. "When combined with the acting comptroller's speech on M&A, this FDIC action underscores a more open outlook to bank M&A involving banks with less than $50B in assets — which desperately need to get bigger to be able to shoulder the added regulatory costs and burdens even smaller banks are facing." https://lnkd.in/eCtTkFqS

Merrill Lynch has agreed to pay $1.5 million in restitution and accepted a censure from FINRA for supervisory failures that resulted in clients incurring unnecessary fees. Read the full article on SQX Alts! #FINRA #alternativeinvestments #alts

Great performance in November for the Performance Watcher private wealth indices! Between +2.4% in CHF and +6.5% in USD for multi-asset portfolios, all with incredibly low volatility. It still doesn't feel like his low volatility is warranted, but the year may be saved! Nicholas Hochstädter #assetmanagement #assetallocation #gfi #independentadvisor #riskmanagement #privatebanking"

The FDIC’s new proposed statement of policy on bank merger transactions emphasizes the administration's widely-understood skepticism of bank consolidation. "[It highlights] how brutally challenging it is to be a bank with assets between $50B and $250B, which face the same regulatory costs of JPMorgan but are [fifteen times] smaller — and regulators seem unlikely to permit them to merge to gain scale," Brian Graham, a partner with the Klaros Group said to American Banker’s Ebrima Santos Sanneh. Read more about the Federal Deposit Insurance Corporation (FDIC)'s new proposed statement of policy on bank merger transactions in our roundup. #investing https://bit.ly/4aMjDE1

𝐅𝐃𝐈𝐂 𝐏𝐫𝐨𝐩𝐨𝐬𝐞𝐬 𝐒𝐭𝐫𝐢𝐜𝐭𝐞𝐫 𝐒𝐜𝐫𝐮𝐭𝐢𝐧𝐲 𝐟𝐨𝐫 𝐋𝐚𝐫𝐠𝐞 𝐁𝐚𝐧𝐤 𝐌𝐞𝐫𝐠𝐞𝐫𝐬 The FDIC aims to intensify oversight of bank mergers exceeding $100 billion in assets, reflecting concerns over financial stability. This initiative, marking the first update in 16 years, emerges after the 2023 bank failures spotlighted risks associated with large banks. The proposal, met with Republican resistance and banking industry criticism for potentially stifling competition, underscores a shift towards greater regulatory caution. It's part of broader efforts to address financial system complexities and international operations, aligning with Dodd-Frank Act principles. #finance #news #FDIC #BankMergers #RegulatoryScrutiny Source: https://lnkd.in/gWhVj93h

Watch on demand: SIFMA’s Securitization Conflicts of Interest Webinar, co-presented with Mayer Brown: https://bit.ly/3qmRZM1 Earlier this year, the U.S. Securities and Exchange Commission re-proposed a rule to implement Section 27B of the Securities Act of 1933, a provision added by Section 621 of the Dodd-Frank Act. This Dodd-Frank provision, intended to prohibit certain conflicts of interest in securitization transactions, is interpreted extremely broadly by the SEC's sweeping proposal. If not amended, these rules would threaten the viability of many common, beneficial transactions in mortgage- and asset-backed securities. In this webinar, we explain the SEC’s proposal, its potential impacts, and what you need to know about where the issue is headed next. #SIFMACL #compliance #securitization #ABS #capitalmarkets #financialregulation

A topic that I‘ve tried to bring into the public debate for as long as I can think: How come that foreign bribery is „lucrative“ (when caught) for the host country of the company that has bribed? And near to nothing goes back to the country where the bribe was paid and which invariably will have suffered economic and other negative consequences? We will have exactly 20 minutes to discuss this… but we will make the most of it! Thanks to co-host and partner in anti-crime France CHAIN. Looking forward to this discussion, hopefully this gives further impetus to what one can describe as a very slow and cautious shift in practice and discourse on this topic. Thanks also to co-organisers Jackson Oldfield and Maria Nizzero, and of course the StAR Initiative for including us in their #assetrecovery day at #cosp10.

This is a very good insight...Assets being proceeds of corrupt activities should be recovered partly or in whole...The bigger question is How do we navigate all the different international jurisdictions to make these recovery processes easy?

Comco Demands Deeper Investigation Into UBS Market Power: The Swiss Competition Commission, or Comco, has indicated concerns about the market dominance of the «new» UBS. Finma is keeping a corresponding report under wraps. #comco #finma