SEC

U.S. Regulators Announce BSA/AML Enforcement Actions Against U.S. Broker-Dealers

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As 2018 came to a close, U.S. financial regulators continued to pursue anti-money laundering (“AML”) enforcement actions against financial institutions, announcing monetary penalties against and resolutions with three U.S.

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SEC approves controversial transaction fee pilot for stock exchanges

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The US securities regulator has approved a controversial pilot scheme that would see major restrictions on pricing across the biggest stock exchanges.

The Securities and Exchange Commission (SEC) unanimously approved the one-year programme, known as the transaction fee pilot, as part of a review of the ‘maker-taker’ trading system, which typically provides a rebate to traders adding liquidity to an order book, with an access fee then charged when liquidity is removed.

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Citadel Securities, Natixis & MUFG fined $6 million for blue sheet data failures

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Broker-

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SEC To CEOs: Keep Track of Chief Compliance Officers

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Chief compliance officers at US broker-dealers had better get used to answering a lot more questions from their chief executive officers about how well they are doing their jobs. The US Securities and Exchange Commission has just sent brokerage CEOs a subtle warning: we could hold you legally liable for failing to supervise your chief […]

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SEC Adopts Enhanced Order Handling Disclosure Requirements

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The SEC recently voted to adopt amendments to Rule 606 of Regulation NMS (the “Final Rule”) that expand broker-dealers’ disclosure obligations with regard to how they handle investors’ orders.

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Status of Financial Regulatory Leadership Changes

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As we emerge from the midterm election season, we have updated our brief deck summarizing the leadership and staffing changes among federal financial regulators, including announced nominations, confirmations, resignations and expiring terms.  The first slide summarizes the state of play for the agencies’ principals; the later slides provide a deeper look on an agency-by-agency basis, including select senior staff.  We intend to continue to update this res

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Don’t Wave Dodd-Frank Goodbye Just Yet

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DON’T WAVE DODD-FRANK GOODBYE JUST YET

by Anne-Charlotte Duhaut, Marketing Director at RegTek.Solutions 

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ITG agrees to $12 million dark pool settlement

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FINRA: Customer Protection Applies to Digital Assets

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The US Financial Industry Regulatory Authority could soon be offering broker-dealers some badly-needed guidance on how they should handle cryptocurrencies and similar products. Industry sources tell FinOps Report that FINRA is in discussions with the Securities and Exchange Commission’s Department of Trading and Markets about FINRA crafting a regulatory notice informing broker-dealers how to apply […]

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SEC Reopens Comment Period for Security-Based Swap Capital, Margin and Segregation Rules

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On October 11, 2018, the SEC reopened the comment period and requested additional comments for previously proposed rules relating to capital, margin, and segregation requirements for security-based swap dealers (“SBSDs”), major security-based swap participants (“MSBSPs,” and together with SBSDs, “SBS Entities”) and, in some cases, broker-dealers.  The rules, most of which were initially proposed six years ago, would establish:

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