About the author: Sean McMahon | SmartBlogs

Sean McMahon Sean McMahon edits SmartBrief newsletters on global financial markets and consumer banking.

A new study by Broadridge Financial Solutions finds that large banks could cut costs of processing trades by 40% though the adoption of a utility-type model. Sharing a range of functions such as post-trade processing, reconciliations and post-trade data, expense management and regulatory reporting would save the average Tier 1 bank $100-$300 million per year.

The new report, “Charting a Path to a Post-Trade Utility,” deals with the increasing costs of meeting new regulations and economic hurdles that cut into banks’ profit margins.[…] Continue Reading »

A collection of stories from SmartBrief publications and around the web…

Did the Federal Reserve’s quantitative easing do any good?: Stephen D. Williamson says no. The vice president of the St. Louis Fed takes a critical view of the crisis management measures policymakers deployed during and in the aftermath of the 2008-09 financial crisis. Williamson challenges the efficacy of the Federal Reserve’s prolonged zero interest rate policy and also believes the Fed’s attempt to improve the manner in which it communicates has only muddied the waters.[…] Continue Reading »

A skills shortage has cybersecurity experts in high demand on Wall Street as firms boost their game to lure top talent. But how should firms go about recruiting the right personnel to match their needs?

A panel of experts at the recent SmartBrief Cybersecurity Forum weighed in on what they are doing to identify and recruit cyber warriors.[…] Continue Reading »

Cybersecurity is at the top of the agenda of nearly every board of directors meeting on Wall Street. As the threats evolve, so to do the countermeasures. Firms are deploying new methods to prevent cyberattacks and recover quickly when hackers penetrate defenses. Meanwhile, a big piece of the cybersecurity puzzle lies at the intersection of industry and government, where enhanced collaboration and information sharing are starting to produce positive results.[…] Continue Reading »

The volume of data associated with communications in the financial services sector has exploded in recent years. But as firms allow communication to take place across more channels, a recent survey from Smarsh finds compliance efforts are not keeping pace.

Nearly one-third (32%) of firms that allow business communication through employees’ personal social media accounts do not have supervision or social media archiving solutions in place to monitor those messages.[…] Continue Reading »