The Back Office - Weekly Update (5/7/23)

Welcome! This week’s news and views below:

• The next generation of data sharing | Deloitte Insights

• Upping the regulatory ante for asset managers (rsmus.com)

• A Trust Company & the Bank Secrecy Act: Is your BSA program good, or good enough? | CLA (CliftonLarsonAllen) (claconnect.com)

• T+1 Settlement Cycles: New Requirements and Best Practices (ssctech.com)

• Central Banks in the Digital Age: Bringing Data into Focus | State Street

• Outsourced Management Company Operations: Increased Productivity and Adaptability - Ultimus (ultimusfundsolutions.com)

• SEC Staff Issue Risk Alert on Safeguarding Customer Records and Information at Branch Offices (sewkis.com)

• M&A/PE Quarterly Newsletter, Spring 2023 (friedfrank.com)

• FSOC Proposal Could Bring Back Nonbank Designation | Jones Day

• SEC adopts amendments to bolster private fund reporting | Davis Polk

• SEC Adopts New Share Repurchase Disclosure Requirements | Insights | Skadden, Arps, Slate, Meagher & Flom LLP

• SEC Adopts Significant Amendments to Private Fund Adviser Reporting on Form PF | Publications | Kirkland & Ellis LLP

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

• Cabinet News & Views (cadwalader.com)

• SEC Publishes Additional Interpretive Guidance on Reg BI and Investment Adviser Standard of Care | Insights | Sidley Austin LLP

• A perfect storm for alternative lending - Waystone

• Tip for Updating Your Compliance Program: Fiduciary Standard | ACA Group (acaglobal.com)

• Gensler Defends SEC Private Fund Proposals at MFA Forum (vigilantllc.com)

• The rise of alternative banking - IQ-EQ (iqeq.com)

• Introduction of the Financial Services (Global Shared Services) Rules 2022 (tridenttrust.com)

• The Corporate Transparency Act—What You Need to Know – CSC (cscglobal.com)

• Everyone is using ChatGPT: What does my organization need to watch out for? – Global Relay Intelligence & Practice

• SEC.gov | SEC Charges Investment Adviser and Fund Trustees with Liquidity Rule Violations

• FINRA Publishes 2023 Industry Snapshot | FINRA.org

• Should Investors Alter Portfolios in Response to Debt Ceiling Risks? - Cambridge Associates

• While Everyone Is Talking About AI, a Different Software ‘Revolution’ Is Happening | Institutional Investor

• New York Common Discloses March 2023 Commitments (dakota.com)

• Average daily equity trading down 15% year-on-year, says AFME - The TRADE (thetradenews.com)

• Options Market Eyes SEC Equity Proposals - Traders Magazine

• Financial Advice Firms: Utilising best of breed or enterprise technology (alphafmc.com)

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

• The MiFID II Review is on the horizon (iongroup.com)

• FSOC proposes changes to non-bank regulation loopholes | Blog (globalrelay.com)

• Is Governance Missing From Your Firm’s Approach to Cybersecurity? - Agio

• Royal Ransomware: How Darktrace Contained One of the Most Prolific Ransomware Strains - Darktrace Blog

• Reviewing a Cybersecurity Documentation Request List from the SEC | MTradecraft

• Vanta Launches Vendor Risk Management Solution

• Blogpost: AIFMD & UCITS V cash monitoring stretches depositary banks | Linedata

• When Was Your Last Tabletop Exercise? | Secureworks

• Audit and Risk Outlook for 2023: A Conversation with KPMG on ESG, Efficiency, and More | Workiva

Thanks for reading,

-B.O.5