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Unlocking the Power of the Turnkey Mutual Fund PlatformReprinted with the permission of SourceMedia, Inc. The current economic and regulatory environment has proven to be challenging for asset managers. Post Sarbanes-Oxley, the industry has seen an increased demand by asset managers for solutions to help them alleviate the rising costs and increasing time to market that these new regulations bring. Many asset managers are discovering that using a turnkey platform to launch and maintain funds can be a time-saving and cost-effective solution. Author: Jay Nusblatt
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AIFMD Changes Europe's Euro 2 Trillion Alternative Investment Fund IndustryThe AIFM Directive introduces harmonized rules for managers of alternative investment funds that are sold to EU investors. The Madoff fraud, the Lehman experience (impacting hedge funds) and the political desire to create more transparency around hedge funds and private equity funds were immediate catalysts for this new directive. This paper outlines the Directive, examines the impact on the fund value chain and the deepening manager - service provider relationship, reviews the increased depositary duties and liabilities as well as the new hedge fund - prime broker depositary models. Business: Asset Servicing
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MiFID II - Expanding Regulatory Reform in EuropeThe Markets in Financial Instruments Directive became a core pillar in the European Union financial markets regulatory system when it was implemented on 1 November 2007. The Directive's main objectives were to increase competition, improve investor protection and, combined with other Directives, help create a single market for financial services and activities in the EU. The key measures implemented through the directive were: best execution and order-handling practices, categorization of clients, investment research, conflicts of interest, outsourcing, transaction reporting, pre- and post-trade transparency and regulation of trade-related market infrastructure. The objective of this paper is to provide BNY Mellon's perspective on the impacts of changes to The Markets in Financial Instruments Directive as proposed in a package of amendments and a regulation currently under consideration by the European Parliament and the European Council. Business: Asset Servicing
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A World of Opportunity for Exchange-Traded Funds 3.0Reprinted with the permission of SourceMedia, Inc. As head of global exchange-traded fund services at BNY Mellon, Joe Keenan has a front-row seat on developments in the exchange-traded fund industry. As such, Keenan fully expects ETFs to continue their incredible success story. Money Management Executive recently spoke with Keenan about the drivers of ETF growth. Author: Joe Keenan
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Money Fund Intelligence: Money Market Funds Ready to Transact Non-$1Reprinted with the permission of Crane Data LLC On October 31, the last directive in the SEC's Money Market Fund Reform amendments to the Investment Company Act will come into effect. Funds must be in compliance with a processing mandate requiring the fund to have the capacity to redeem and sell its securities at a price based on the fund's current net asset value per share, including the capacity to sell and redeem shares at prices that do not correspond to the stable net asset value or price per share. Jim Cecere, Managing Director of Global Product Management for U.S. Financial Institutions, discusses the issues and challenges of the new regulation. Author: Jim Cecere
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Risk Roundtable InterviewReprinted with the permission of The Spaulding Group, Inc. The topic of risk has grown tremendously given the recent market turmoil. The Journal of Performance Measurement gathered a distinguished group of risk professionals to participate in an interview that examines how risk is measured/managed, provides opinions on value-at-risk, and discusses what the future holds for this type of analysis. Authors: Greg Stewart, John Stahr
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Investment Portfolio Data ManagementEvery industry presents its own challenges to successful data management. Terry Jenkins, Principal Analyst - Eagle Investment Systems, examines the factors that make investment portfolio data management unique and outlines how four key data management activities -- data integration, data quality, data enrichment and business intelligence -- must be organized to support the particular needs of financial institutions. Author: Terry Jenkins
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Risk Appetite at the CrossroadsReprinted with the permission of SourceMedia, Inc. In light of recent market volatility and dramatically changed investor risk appetite in the wake of the recession, Jim Cecere, Managing Director for Global Product Management talks about the changes in the types of products asset managers are launching and other trends in the marketplace. Author: Jim Cecere
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Money Funds at Continued Cross RoadsReprinted with the permission of SourceMedia, Inc. Given the authority granted to the Financial Stability Oversight Council and the Federal Reserve by the Dodd-Frank Act, these regulators have been provided with a broad brushstroke to implement financial reform. With the intention of creating a stronger and more stable money market, the impact will most likely be increased oversight, further reporting requirements and more stringent guidelines designed to reduce potential systemic risk by a nonbank financial company. Author: Jim Cecere
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Q&A - Trends and Challenges Facing the ETF MarketplaceReprinted with the permission of Institutional Investor, Inc. Get the latest insights on the exchange-traded fund industry from Joe Keenan, Head of Global Exchange-Traded Fund Services, BNY Mellon. Author: Joe Keenan
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