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By Olivia Munro (pictured), Eze Castle Integration – From a personal perspective, there are a variety of reasons that individuals update applications on their personal devices (think mobile phone or iPad). For example, with Social Media applications drivers to update include new features, faster load times, and bug fixes. But from a business perspective, it is imperative to keep applications up to date on your devices.
Here’s our take on benefits of keeping applications up to date, why it’s crucial from a security perspective, and some of the potential risks of legacy applications.
BENEFITS:
Improved Performance
Similar to your personal devices, updating applications
Getnick & Getnick LLP and co-counsel Labaton Sucharow LLP have secured a major USD30 million settlement in the second stage of the largest ever tax whistleblower recovery in New York state history.
The settlement announced by New York Attorney General Barbara Underwood follows a related USD40 million settlement in April 2017, bringing the total recovery to USD70 million.
The Relator, whose identity remains protected, will receive 22 per cent of today’s settlement (USD6.6 million).
Getnick and Labaton represent the Relator in a tax evasion case brought against Harbinger Capital Partners Offshore Manager LLC, the investment manager for New
The Managed Funds Association (MFA) has announced its 2018-2019 board of directors which will provide governance oversight to the association and help guide the its advocacy, education, and communication efforts on global issues impacting the alternative investment industry.
MFA’s returning officers are: Board Chair Michael S Harris, president, Campbell & Company, LP., and Vice Chair Jon Hitchon, Managing Director, Chief Operating Officer, Two Sigma Investments, LP. Joe Wiggins, Partner and US Leader of PricewaterhouseCoopers Assurance Alternatives Practice, PricewaterhouseCoopers LLP, will serve as Secretary and Treasurer.
“I am proud to welcome new and returning Board Members as MFA continues to
Investment fund assets worldwide increased by 4.4 per cent to EUR45.65 trillion at end Q2 2018, according to the European Fund and Asset Management Association’s (EFAMA) latest International Statistical Release.
In US dollar terms, due to the appreciation of the US dollar, worldwide investment fund assets decreased by 1.3 per cent to stand at USD 53.22 trillion at end Q2 2018.
Net cash inflows into funds worldwide amounted to EUR190 billion, down from EUR502 billion in Q1 2018. Net inflows reached EUR29 billion in Europe, compared to EUR113 billion in the United States.
Long-term funds (all funds excluding money
Ultimus Fund Solutions is the latest firm to join the The North American Fund Administration Association (NAFAA), a representative group for the alternative investment fund administration industry.
“With the recent acquisition of Woodfield Fund Administration, Ultimus has broadened its mutual fund administration services to include alternative investment funds and we are delighted to have them partner with us in enhancing the alternative fund administration industry,” says founding director, Chris Meader.
“Our involvement with NAFAA allows us to collaborate with other administrators in the US to bring new ideas and standards that will be beneficial for our firm, our clients
Axioma has launched new interactive dashboards that enable portfolio managers and risk managers to obtain valuable insights on risk from Axioma’s enterprise risk-management platform, factor risk models and full suite of market data.
“Axioma’s intuitive new dashboards expose risk insights trapped in analytics, spreadsheets, disparate databases and static PDF reports, to drive more informed investment decision-making,” says Ian Lumb, Managing Director, Head of Risk Solutions at Axioma. “The highly customisable dashboards provide managers with clear daily risk action plans for understanding what happened, why it happened and how it has changed – both day-over-day and over longer periods of time.”
Sterling Trading Tech (STT) has unveiled its first major expansion of sophisticated analytics for its RaaS (Risk-as-a-Service) solution, The Sterling Risk Engine.
The cloud-based, high performance solution calculates intraday, real-time risk-based haircuts and portfolio margin using the OCC’s TIMS methodology, in addition to simulating portfolio risk under user-defined market shocks and volatility shifts.
The Sterling Risk Engine launched in the Spring of 2017 and was the first commercial risk took to utilise sophisticated quantitative and big data techniques to manage risk in real-time for hundreds of portfolios. As the solution is cloud-based, there are no hardware or software requirements
Oyster Consulting has appointed Dale C Jackson as its Managing Director in Bermuda.
Jackson’s experience in compliance, business development, and within the Bermuda Government will help him grow the firm as Bermuda’s regulatory environment expands to meet the challenges of an evolving economy that includes the cryptocurrency and fintech industries.
Jackson (pictured), is a financial services professional whose experience includes business regulatory compliance, financial crime investigation, AML audit, oversight and reporting, due diligence and deal structuring, international commerce, issues management and risk management.
Prior to joining Oyster Consulting (Bermuda), Dale served as an AML Office Manager for a
IHS Markit, a specialist in critical information, analytics and solutions, has launched its Initial Margin Calculation Service with broad coverage for non-cleared derivatives across interest rates, equities, FX, credit and commodities.
A complex, five-phase international framework for posting initial margin began in 2016, and ISDA estimates more than 9,000 trading relationships and 1,000 counterparties will come into scope during the final phase of implementation in 2020. As this milestone approaches, asset managers face significant challenges in building or sourcing the data, risk sensitivity models and other tools required to calculate and manage initial margin.
The Initial Margin Calculation Service
The Stock Exchange of Thailand (SET) has signed a new licence agreement with Cinnober Financial Technology for a term of seven years, covering a multi-asset class trading platform for SET’s equities and derivatives markets, including index calculation and data dissemination functionality, built on Cinnober’s TRADExpress technology and the Scila market surveillance system.
SET has operated successfully using the software since September 2012, with a track record of 100 per cent uptime. During this period, the Thai exchange has strengthened its position in the market to become the most liquid equities exchange in the ASEAN region. In addition, derivatives trading volumes
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