The Fintech Open-Source Foundation (FINOS), the foundation of open innovation in financial services and part of the Linux Foundation, announced the formation of an open standard project, based upon an approach developed by FINOS Platinum Member Citi, to describe consistent controls for compliant public cloud deployments in the financial services sector. This collaborative project aims to develop a unified set of cybersecurity, resiliency, and compliance controls for common services across the major cloud service providers (CSPs). By developing a unified taxonomy of common services and...

TIFIN, an artificial intelligence (AI) platform for wealth management, announced the launch of TIFIN.AI. TIFIN.AI is dedicated to conceiving and developing TIFIN’s second cohort of AI-powered fintech companies. J.P. Morgan has joined TIFIN in funding TIFIN.AI. according to a story in MarketsMedia news. The formation of TIFIN.AI builds upon TIFIN Studios, which created five companies between 2018 and 2021. The first iteration of Studios yielded launches and exits including J.P. Morgan’s acquisition of 55ip in 2020, the spin-off of Paralel Technologies, and the foundation of TIFIN’s three...

Bloomberg AIM and Bloomberg Vault have been adopted by India-based NJ Asset Management to help enable its enterprise-wide digital strategy across the entire investment workflow. The asset manager will use Bloomberg’s order and investment management solution AIM in connection with its portfolio analytics, order management and trading compliance activities. According to a story in The Trade news, Bloomberg AIM addresses NJ Asset Management’s specific needs for tools to support rule-based investment decision-making. AIM will allow NJ Asset Management to expand its investment strategy across...

FIF has scheduled a call for Monday July 31 at 1 pm ET to discuss processing and reporting for a scenario where a customer receives a fractional share or fractional bond as a result of a corporate action, and the fractional share or fractional bond allocation is subsequently liquidated as an account maintenance function. If you would like to participate on this call and have not previously notified FIF of your interest in this topic, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..

FIF has scheduled an additional call this week for the CAT Transaction Reporting Working Group. The call will be on Monday July 31 at 2 pm ET. The agenda for the call will be to review and make final edits to a comment letter to the SEC on CAT costs. The FIF CAT Transaction Reporting Working Group call on Wednesday August 2 at 2 pm will focus on CAT reporting for RFQ responses.

FIF has scheduled a call for Tuesday August 1 at 2 pm ET to discuss enhancing the reconciliation process for Section 31 fees, including a proposal to request that FINRA and the other SROs provide clearing firms with a monthly report of trade executions and the amount charged for each trade execution. If you would like to participate on this call and have not previously notified FIF of your interest in this topic, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..

FIF has scheduled a call for Thursday August 3 at 1 pm ET to continue the discussion of the recent amendments to FINRA Rule 2231 (Customer Account Statements). More specifically, the group will discuss new Interpretation .07 (Logos, Trademarks, etc.) and any other issues relating to FINRA Rule 2231 that participants want to raise. If you would like to participate on this call and have not previously notified FIF of your interest in this topic, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..

The FIF CAT Monthly Update Working Group call for August will be on Thursday August 3 at 2 pm ET. The Working Group will review guidance and updates from the CAT Plan Participants and FINRA CAT on CAT Transaction Reporting and CAT CAIS reporting during the prior month. The Working Group will also review the current areas of focus for FIF members and the current open issues for CAT Transaction Reporting and CAT CAIS reporting.

FIF has scheduled a call for Tuesday August 8 at 2 pm ET to review a draft letter to FINRA requesting the retirement of TRF reporting requirements that are duplicative of CAT (for example, regulatory reports to the TRF). If you would like to participate on this call and have not previously notified FIF of your interest in this topic, please send a note to This email address is being protected from spambots. You need JavaScript enabled to view it..