Solutions
Eze Software Group has released a number of new features for the buy-side and the sell-side in the latest version of its EMS. Enhancements include actionable IOI support, securities borrowing improvements and enriched support for ACT reporting.
Traders now can receive targeted indications of interest from brokers within the EMS. The EMS standardises all incoming IOIs and distributes them to traders at broker-targeted clients. Traders can view and trade IOIs from a variety brokers. The feature also benefits the sell-side, making the EMS a destination for broad IOI distribution to Eze Software’s client base.
“The actionable IOI feature provides
Bermuda remains fully committed to the process of qualifying under rules set out by the European Union for third-country rights for Island-based alternative fund managers.
The European Securities Market Authority (ESMA) last week cleared the way for Guernsey, Jersey and Switzerland (pending passage of legislation by the latter) to be approved for extension of "passport" rights that would allow non-European Union fund managers to market their Alternative Investment Funds (AIFs) in EU member states on a cross-border basis. The recommendation would extend the same rights to approved non-EU entities that are currently available only to EU-based AIF managers (AIFMs).
In
Over the last 10 years, organisations have undergone a wholesale change in the way they run their businesses. Thanks to cloud-based platforms, wireless Internet, and the proliferation of desktop and mobile device applications, the perimeter of most businesses has moved beyond the four walls of their office. This has revolutionised the way people work: no longer tied to their desks they can be equally as effective aboard an aircraft or sitting next to the beach on vacation.
Data has become instant. Accessible.
Of course, this has placed huge demands on IT managers who must now control the security of their
Eze Castle Integration has expanded its Information Security Consulting Service to Hong Kong and Singapore.
Eze Castle Integration's security consultants provide development and audit services for Written Information Security Policies (WISP), enabling clients to address the administrative and technical safeguards necessary to withstand a cybersecurity incident.
The financial industry is facing mounting cybersecurity threats while regulators are calling for higher levels of preparedness. Eze Written Information Security Services are provided by Eze Castle's security and compliance consultants who follow a proven methodology from assessment and analysis to implementation and maintenance. Key elements include:
– Conducting Operational and Technical Risk Assessments;
Cayman Finance has welcomed the European Securities and Markets Authority’s (ESMA) decision to move forward with assessments and recommendations in regards to the extension of the AIFMD Passport to non-EU AIFMs and AIFs.
“We are happy to see this formal recommendation process started, where ESMA is committed to taking an objective and transparent approach to reviewing and recognising jurisdictions around the world who play such an important role in the global investment funds market and we look forward to ESMA reviewing and assessing Cayman’s carefully developed AIFMD regimes,” says Cayman Finance CEO Jude Scott (pictured).
The Cayman Islands remains committed
A recommendation by the European Securities and Markets Authority (ESMA) to grant Guernsey a ‘third country’ passport under the Alternative Investment Fund Managers Directive (AIFMD) has been welcomed by Guernsey’s funds sector.
In announcing its findings from the ‘Call for Evidence – AIFMD passport and third country AIFMs’ consultation ESMA confirmed that Guernsey had demonstrated the ability to satisfy the criteria required under AIFMD. Of the six jurisdictions assessed, ESMA concluded that “no obstacles exist to the extension of the passport to Guernsey and Jersey, while Switzerland will remove any remaining obstacles with the enactment of pending legislation. No definitive
With cyber risks increasing year-on-year, and regulators such as the Securities and Exchange Commission (`SEC') taking an increasingly prominent role in assessing the preparedness of broker-dealers and registered investment advisors, establishing cybersecurity best practices is not only useful; it's a necessity.
Cybersecurity is a complex web and as such there are many areas to consider. The best place for any manager to start is to take a step back and assess the risk of their overall business environment.
"It should be woven into business process and supported by senior management. It should not be relegated as being just an IT
Cybercrime could extract up to 20 per cent of the global economic value created by the Internet through fraud and espionage, according to the Centre for Strategic and International Studies. Following last year's Cyber-Security Risk Alert, the SEC's Division of Investment Management released guidance this April to help investment managers prevent external attacks.
"The guidance can be boiled down into three key areas of recommendation: assessment, strategy and implementation," says Bob Guilbert (pictured). Managing Director at Eze Castle Integration, the leading provider of IT solutions and private cloud services to more than 650 global alternative fund managers.
Guilbert outlines the
There is a tendency when faced with a potentially serious threat to take extreme measures in life. Cybersecurity is no different. Many firms are looking for a quick fix, even if it comes with a high price tag. However, should managers take a more balanced and common sense approach to tackling the issue of cybersecurity, before spending vital operating capital on expensive individual solutions?
"Frequently, hedge funds are led to believe that the best way to protect themselves against cyber threats is to invest in expensive intrusion detection systems (IDS) or sophisticated firewalls," says James Tedman (pictured), Managing Director, ACA
Today's world has never been more interwoven. Cybersecurity risks have grown exponentially as global businesses have become more integrated with counterparties and system architectures have grown in complexity. In the opinion of Gerhard Grueter, co-founder of Lawson Conner, a market leader in compliance solutions for the investment fund industry, the topic is only going to get bigger.
"Today, cybersecurity has become a genuine commercial issue that can bring down entire firms because of reputation risk and regulatory risk. The threat today is nothing like what it was five years ago. It is now an active market of cyber criminals deliberately
