The US securities industry is finally to move to a two-day settlement cycle (T+2), but not until the end of Q3 2017, some three years after similar shifts in other global markets
SIFMA today released the following statement from president and CEO Kenneth E. Bentsen, Jr., after Senator Richard Burr offered the Cybersecurity Information Sharing Act (CISA) as an amendment to the National Defense Authorization Act (NDAA):
In the face of fierce opposition from industry bodies, Wall Street watchdog Finra appears to be backtracking on proposals to introduce an automated data collection system designed to help identify risky and suspicious activities.
Sifma today released the following excerpts from a testimony submitted to the Senate Banking, Housing, and Urban Development Committee's hearing entitled "Cybersecurity: Enhancing Coordination to Protect the Financial Sector":
Plans by Wall Street watchdog Finra to introduce an automated data collection system designed to help identify risky and suspicious activities have been blasted by lobby group Sifma on cost, security and privacy grounds.
Office supply retailer Staples has become the latest firm to reveal that it is investigating a possible data breach that could leave customer payment card details at risk.
Within a week of European markets moving to a T+2 settlement cycle, the DTCC in the US has formed a steering committee and working group to oversee a similar shift for trades in equities, corporate and municipal bonds, and unit investment trusts (UITs).
The Financial Services Roundtable (FSR) and the Securities Industry and Financial Markets Association (SIFMA) submitted a comment letter to the federal banking regulators today requesting changes to a host of banking regulations that are outdated, unnecessary or unduly burdensome for financial services companies.
SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, after the 9/11 Commission Report identified cybersecurity as a key area of focus for U.S. security and recommended that Congress should enact cybersecurity legislation to enable private companies to collaborate with the government in countering cyber threats.
A top US Treasury official has called on the financial services sector to step up its efforts to protect consumer privacy and critical infrastructures from the threat of cyber attacks.
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