Tag: fintech

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Data Driven Compliance

Data Driven Compliance: Sheetal Parikh on Banking Integration: Connecting Banks and Fintech Companies

Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast hosted by Tom Fox. It features an in-depth conversation about the uses of data and data analytics in compliance programs. Data Driven Compliance is back with another exciting episode. The intersection of law, compliance, and data is becoming increasingly important in the world of cross-border transactions and mergers and acquisitions. Today, we look at the intersection of data analytics, banking, and compliance with Sheetal Parikh.

Sheetal Parikh is a seasoned attorney with over 18 years of experience in the financial services industry, currently serving as the Associate General Counsel and VP of Compliance at Treasury Prime. Drawing from her extensive background in securities and commodities litigation and regulatory work, Parikh advocates for a collaborative approach to integrating Fintech and banks, with a strong emphasis on compliance. She believes that Treasury Prime’s role is not to offload compliance functions but to provide banks and Fintech with a toolkit and set of tools, both through technology and expertise, to establish a compliance program that suits their specific risk profile and use case. Parikh also foresees a future where fintech companies offering banking products and services will face more direct oversight and regulation, as they are currently regulated indirectly through banks. Join Tom Fox and Sheetal Parikh on this episode of the Data Driven Compliance podcast to delve deeper into this topic.

Highlights Include:

  • Banking Integration and Compliance Solutions
  • Responsible Innovation in the Banking Industry
  •  Consequences of Regulatory Non-Compliance
  • Regulating Fintech Companies as Banks

 Resources:

Sheetal Parikh on LinkedIn

Treasury Prime

 Tom Fox 

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Compliance and AI

Compliance and AI – Vinay Kumar on the Business Uses for AI in Regulated Industries

In this episode, Tom Fox interviews Vinay Kumar, the founder, and CEO of Arya.ai. Vinay discusses the importance of regulations in AI to prevent unethical use in business, including the potential dangers of superintelligence. Vinay emphasizes the need for responsible and ethical use of AI while discussing how Arya.ai simplifies the deployment of responsible and safe AI in the banking, finance, and insurance industries. Vinay also explains how a verticalized AI cloud with observability layers can provide value to the industry by ensuring transparency, auditability, monitoring, and safety of model output to protect customer and company interests.

Don’t miss this informative podcast that will enlighten you on the proper use of AI in business and the importance of regulations.

Key Highlights:

  • ML observability and founding Arya.ai
  • From Stem Research to BFSI: Pivoting AI Development
  • AI solutions for the insurance industry
  • Importance of ML observability layer
  • Challenges of Health Claims Automation
  • Ethical Concerns in AI Usage for Business

 Key Quote:

“We thought we were solving a fundamental problem, which is simplifying the information interaction problem, and that can only happen when I spend my time more effectively on the topic rather than solving these on-ground tasks.”

Resources

Vinay Kumar on LinkedIn

Arya.ai

Tom Fox

Instagram

Facebook

YouTube

Twitter

Categories
Daily Compliance News

January 21, 2022 the Boeing Reopening? Edition


In today’s edition of Daily Compliance News:

  • The Mucci bitcoin ETF plan rejected by SEC. (Bloomberg)
  • AG to meet with families of Boeing disasters. (WSJ)
  • Dealmaking improv? (Reuters)
  • AML to get FinTech boost? (FinExtra)
Categories
Coffee and Regs

Trends in Transaction Reporting in 2022

Trends in Transaction Reporting in 2022

In this episode, CSS’s Transaction Reporting product team of Alexis Wiazmitinoff and Nicklas Nilsson make predictions on trends in transaction reporting in 2022 – from updates to SFTR to preparation for EMIR REFIT.
 

 

About Our Guest Speakers:


Alexis Wiazmitinoff is a Product Leader at CSS, responsible for leading the Global Transaction Reporting (GTR) solution. He is responsible for setting the GTR product roadmap and strategy. He guides the GTR product team during Sales/Pre-Sales engagements, product design/ delivery, thought leadership and takes part in client events. Alexis has 10 years of FinTech experience and a strong background working with traders, portfolio managers and front-to-back office personnel as part of core banking transformation projects on the continent and in the UK. Prior to joining CSS, Alexis product managed London Stock Exchange Group’s EMIR Trade Repository.”
 

 

 

 
Nicklas Nilsson is a Regulatory Specialist at CSS concentrating on global transaction reporting, including SFTR, MiFIR and EMIR. Nicklas is currently in a cross-functional role covering the regulations from analysis to implementation. He has eight years of experience working in the finance industry, including operational experience in fund reporting and regulatory implementation. Prior to joining CSS, Nicklas held positions at Swedbank, SEB and Wahlstedt Sageryd.

 

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Coffee and Regs

The Perfect Storm – PRIIPs and SFDR in 2022

The Perfect Storm – PRIIPs and SFDR in 2022

In this episode, CSS’s Chief Product Officer Ronan Brennan makes predictions for PRIIPs and how the regulatory landscape in 2022 with PRIIPs and SFDR is reminiscent of 2018 with the implementation of PRIIPs and MiFID II.
 

 

About Our Guest Speakers:


Ronan Brennan is the Chief Product Officer at Compliance Solutions Strategies (CSS). In his role, he has direct responsibility for the strategic evolution of the global suite of CSS products and regulatory content. Managing product in CSS involves ensuring the product suite is ready to support both the current and future compliance management and regulatory reporting needs of investment management and advisory firms globally. Ronan participates as a speaker in many industry events each year, in addition to publishing a company blog and development of thought leadership materials. Ronan has 26 years of experience in the technology sector, 21 of which have been spent in the investment data management and regulatory reporting space.
 

 
Natalie Silverman serves as CSS’s Chief Marketing Officer. A leading FinTech specialist, Natalie has over 18 years of go-to-market and strategic expertise in financial services, SaaS, media and news. Most recently she has helped to build innovation labs across startups and enterprises.

 

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Coffee and Regs

What’s Next for Cybersecurity in 2022?

Digital Assets: Trading & Compliance for Cryptocurrency

In this episode, Director of Registered Investment Company Services, Allison Fraser and Director of Broker-Dealer Services & Private Funds, John Gentile discuss the latest on digital assets and cryptocurrency. Are they considered securities, what does the SEC’s risk alert mean for digital assets, and how should investment managers be thinking about cryptocurrency trading and compliance?

 

 

About Our Guest Speakers:


 
E.J. Yerzak CISA®, CISM®, CRISC™ assists firms in assessing and managing their cybersecurity risk – from network vulnerability scanning and penetration testing to onsite cybersecurity assessments and assistance in implementing the NIST cybersecurity framework. E.J. has authored articles and alerts on emerging regulatory and technology issues, and is regularly requested to speak as a cybersecurity expert at industry conferences.
 
 

 
Mike Farrell is a Certified Information Systems Auditor (CISA®) and Certified Information Security Manager (CISM®), and Cybersecurity Consultant at CSS. He analyzes data and conducts cybersecurity risk assessments, policy gap analyses, vulnerability scanning and social engineering testing. His Information technology experience includes network installations and management, hardware and software configuration, and troubleshooting.
Categories
Coffee and Regs

Special Episode with the Deputy Commissioner, Securities Division of the Vermont Dept. of Financial Regulation

Special Episode with the Deputy Commissioner, Securities Division of the Vermont Dept. of Financial Regulation

In this special episode, CSS’s Director of Retail Wealth Manager Services Korrine Kohm and William R. Carrigan, Deputy Commissioner, Securities Division of the Vermont Department of Financial Regulation discuss the latest news for registered investment advisers, including what will be required in 2022 surrounding continuing education requirements, the implementation of the new Marketing Rule and what’s next for Form CRS.
 

 

About Our Guest Speakers:

Korrine Kohm is CSS’s Director of Retail Wealth Manager Services. Prior to CSS, Korrine was the Chief Compliance Officer and Head of Operations at Estabrook Capital Management where she was responsible for all compliance functions of this SEC-registered, $2.1B investment advisory firm. Korrine began her regulatory career while working at Allied Irish Bank (NY) in the Operations Department where she was a key member of AIB’s Compliance Committee, responsible for ensuring compliance with Federal and State regulations. An active member of the National Society of Compliance Professionals for over 10 years, Korrine earned her Investment Adviser Certified Compliance Professional (IACCPTM) designation in 2006, is a member of the Association of Certified Fraud Examiners, and obtained her Certified Fraud Examiner designation. In addition to her experience in compliance and banking, Korrine began the 16-week intensive training course in Quantico, Virginia, to become a Special Agent with the Federal Bureau of Investigation. She has particular experience in crafting customized policies and procedures, developing and implementing compliance programs, conducting on-site compliance reviews, acquisition due diligence reviews, risk assessments and mock SEC examinations. She routinely councils clients on various regulatory matters, including SEC registration issues, social media and advertising, policies related to diminished financial capacity, disclosures and the annual review process.
 

William R. Carrigan was appointed Deputy Commissioner of the Securities Division in July 2016. He has worked at DFR since 2007 serving as Director of Examinations and Enforcement and Investor Education Coordinator. A Certified Fraud Examiner, he worked closely with the FBI and IRS to expose the $28 million Mac Parker Ponzi scheme, which involved hundreds of investors, and he was a member of the team that investigated the recent Jay Peak EB-5 matter that resulted in federal and civil lawsuits. Carrigan also spearheaded the inquiry that led to the recent $5.9 million settlement with Raymond James and Associates. He has 20 years of experience in the securities industry and held various positions prior to joining the division. He holds a bachelor’s degree in business management from Johnson State College and a master’s degree in forensic studies from Stevenson University in Maryland. He is a member of the Association of Certified Fraud Examiners and the North American Securities Administrators Association.
 
Categories
Coffee and Regs

PRIIPs Delay, But Not Implementation Delays

PRIIPs Delay, But Not Implementation Delays

In this episode, CSS’s SVP of Business Development Ashley Smith joins Chief Product Officer Ronan Brennan to discuss the latest on the PRIIPs RTS, UK/EU divergence, data management complexities of the UCITS to PRIIPs transition and operational best practices to implement now.

 

About Our Guest Speakers:


Ronan Brennan is the Chief Product Officer at Compliance Solutions Strategies (CSS). In his role, he has direct responsibility for the strategic evolution of the global suite of CSS products and regulatory content. Managing product in CSS involves ensuring the product suite is ready to support both the current and future compliance management and regulatory reporting needs of investment management and advisory firms globally. Ronan participates as a speaker in many industry events each year, in addition to publishing a company blog and development of thought leadership materials. Ronan has 26 years of experience in the technology sector, 21 of which have been spent in the investment data management and regulatory reporting space.

 
 

 
Ashley Smith is a sales and business development professional with 30 years of experience in the financial services sector. Ashley started his career with the Financial Times and has led sales, marketing and business development teams across leading solution providers in data management, market data, risk analytics, collateral management and regulatory compliance.
 
Categories
Coffee and Regs

CCOs & ESG – Preparing Now for What’s Next

CCOs & ESG – Preparing Now for What’s Next

In this episode, CSS’s team of CCOs Matt Calabro and Victoria Olson discuss how CCOs can prepare now for what’s to come with ESG – from policies and procedures to marketing materials and disclosures.
 

About Our Guest Speakers:


Matt Calabro is an experienced Chief Compliance Officer, having served as CCO for registered mutual funds, investment advisers and a family of UCITS funds. Before joining CSS, Matt was Deputy CCO at Delaware Investments, where he led the daily activities of the firm’s compliance department covering advisory, fund and distribution activity. Under his leadership, Delaware implemented specific improvements in its guideline compliance, advertising review and Code of Ethics programs. Prior to Delaware, Matt spent 20 years in Raymond James’ investment advisory business, where he led mutual fund operations. While there, Matt implemented and upgraded controls, processes and technology and also served as the first full-time CCO to the mutual funds following the adoption of the Compliance Rule. Matt leverages his compliance and operations experience in the investment management industry to assist advisers and investment companies in advancing the effectiveness of their compliance programs.
 

Victoria Olson has been a compliance consultant for several years, most recently with Alaric Compliance Services. She is a Certified Regulatory and Compliance Professional (CRCP issued by FINRA Institute at Wharton), and a Chartered Life Underwriter. She also completed the Certified Anti-Money Laundering specialist (CAMS) course. Victoria previously served as the Chief Compliance Officer to an SEC-registered investment adviser and has extensive experiencing working with RIAs. Prior to consulting, Victoria was Chief Compliance Officer and AML Compliance Officer at Forethought Financial, Director of Compliance at Prudential Financial, and a Senior Compliance Officer at The Phoenix Companies. Victoria formerly served as Chair of the FINRA District 11 Committee and successfully completed the FINRA Series 4, 6, 7, 24 and 66 Examinations.
 
Categories
Coffee and Regs

Cybersecurity Training, Talent and Diversity

Cybersecurity Training, Talent and Diversity

In this episode, Founder and CEO at CyberVista, Simone Petrella and CSS’s Director of Cyber IT Services, E.J. Yerzak discuss the importance of cybersecurity training, education, how to recruit talent and diversity in cyber and why compliance and cybersecurity are synonymous.
 

 

About Our Guest Speakers:


 
E.J. Yerzak CISA®, CISM®, CRISC™ assists firms in assessing and managing their cybersecurity risk – from network vulnerability scanning and penetration testing to onsite cybersecurity assessments and assistance in implementing the NIST cybersecurity framework. E.J. has authored articles and alerts on emerging regulatory and technology issues, and is regularly requested to speak as a cybersecurity expert at industry conferences.
 
 

Simone Petrella is CEO and Co-Founder of CyberVista. Previously, Simone was a Senior Associate at Booz Allen Hamilton where she helped build the firm’s cybersecurity practice in the commercial sector focusing on the creation of cyber fusion centers and the integration of cyber threat intelligence, security operations, and cyber defense operations into effective cyber security operations. For a decade she led the firm’s all source cyber threat intelligence business in the national security and Defense sectors, where she built out a threat capability and team with in depth subject matter expertise in all aspects of cyber threat intelligence, including intelligence support to both defensive and offensive operations. Her areas of specialty included predictive cyber intelligence based on an understanding of the threat adversary and developing service offerings to integrate intelligence into exercises to provide realistic cyber scenarios. Simone received her J.D. with honors from Catholic University’s Columbus School of Law and graduated from Georgetown University with a B.A. in Government and a M.A. in International Law and Policy. She is a member of Women in International Security and is admitted to the New York Bar. A native of New Jersey, she has resided in Washington D.C. since 2000.