Risk USA: Hire more quants in compliance, says SEC official
SEC official warns compliance teams at quant funds lack qualifications and knowledge to effectively monitor trading strategies
Compliance departments at firms using algorithms in their trading models need to hire more staff with mathematical backgrounds and implement stronger documentation and control procedures, a US Securities and Exchange Commission (SEC) official told the Risk USA conference in New York yesterday.
"We often find that different departments within quantitative firms speak different languages. The personnel who develop, program, test and execute the models speak the language of maths. The compliance
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