The Back Office - Weekly Update (5/14/23)

Welcome! This week’s news and views below:

• How a product-driven IT model can reimagine banking | EY - US

• Reporting considerations: U.S. PE funds with foreign investors (rsmus.com)

• 1Q 2023 SEC Update – Asset Managers, Funds, & Broker-Dealers | FORVIS

• Why Traditional Investment Operations Systems No Longer Suffice (ssctech.com)

• Asset Management Amid Long-Term Inflation | State Street

• U.S. Economic Outlook, April 2023 | Northern Trust

• Notice: Amended Share Repurchase Disclosure Requirements - Seward & Kissel LLP (sewkis.com)

• SEC Adopts Amendments to Form PF (friedfrank.com)

• Investing in China: capitalising on the opportunities - Intertrust Group

• SEC Issues $279 Million Award to a Single Whistleblower | Jones Day

• SEC & CFTC Enforcement Update | Davis Polk

• Private Trust Companies, Single Family Offices and Governance Entities – changes to Jersey's AML framework and what that means in practice | Ogier

• S&C Publication: FDIC Proposed Special Assessments for SVB and Signature Bank Resolutions | Sullivan & Cromwell LLP (sullcrom.com)

• Cabinet News & Views (cadwalader.com)

• Managing Risks of Large Language Models Like ChatGPT | ACA Group (acaglobal.com)

• SEC Continues Heightened Focus on Recordkeeping Failures (vigilantllc.com)

• The need for internal guidelines for the use of Generative AI – Global Relay Intelligence & Practice

• SEC.gov | SEC Charges HSBC and Scotia Capital with Widespread Recordkeeping Failures

• CFTC Orders HSBC Bank USA, N.A. to Pay a $45 Million Penalty for Manipulative and Deceptive Trading in Connection with Swaps Related to Bond Issuances, Spoofing, and Supervision and Mobile Device Recordkeeping Failures | CFTC

• Mubadala Set to Become a World-Leader in Private Credit Investment (GlobalSWF) Global SWF

• American Funds, Vanguard, BlackRock, JP Morgan, and First Trust Deemed Best-in-Class Brands by Advisors, ISS Market Intelligence Study Finds (issgovernance.com)

• How Jefferies’ Investment Research Leapfrogged Competitors | Institutional Investor

• NY State Teachers Commits $300M to Private Equity (dakota.com)

• Overnight Trading Gains Traction - FlexTrade Systems » FlexTrade Systems

• Joe Collery: A TCA wish list for the buy-side - The TRADE (thetradenews.com)

• Buy-Side Trader Q&A: Jason Lenzo, Russell Investments - Traders Magazine

• Don’t Make T+1 the Next Y2K (citisoft.com)

• Asset Management Operations: What Can ChatGPT Do for Me? (citisoft.com)

• The Evolution of Wi-Fi Continues: The Next Generation (align.com)

• FINRA publishes amendments to WFH supervision rule | Blog (globalrelay.com)

• Hedge Funds Turn to Outsourcing as They Look to Adopt AI Capabilities and Migrate to the Public Cloud - Agio

• The SEC Targets Two More Tier-One Banks For Record Keeping Failures (steel-eye.com)

• Risk Management in Banking: How to Prevent Another Crisis | Workiva

Thanks for reading,

-B.O.5