Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Key Points -
- New proposed SEC rules would expand who may be considered a dealer or a government securities dealer under the Securities Exchange Act of 1934.
- If the proposed new rules are adopted, a large group of...more
An international bank settled an enforcement action brought by the Commodity Futures Trading Commission for spoofing. However, in the process, the CFTC went out of its way to laud the bank for self-reporting the incident, as...more
10/15/2018
/ Banks ,
Bitcoin ,
CFTC ,
Cooperation ,
Cryptocurrency ,
Cyber Attacks ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Self-Reporting ,
Spoofing ,
UK
UK Regulators Implement Tougher Pay Rules for Banking Institutions’ Senior Managers: The United Kingdom Prudential Regulation Authority and Financial Conduct Authority have adopted new rules regarding the remuneration of...more
6/30/2015
/ Banking Sector ,
Banks ,
Broker-Dealer ,
CFTC ,
Compliance ,
Cybersecurity ,
EMIR ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Fraudulent Wire Transfers ,
Futures ,
Immigration and Customs Enforcement (ICE) ,
IOSCO ,
Monetary Authority of Singapore ,
National Futures Association ,
Scottrade ,
Singapore ,
Swaps ,
UK
FCA Sanctions Bank of Beirut, Former Compliance Officer and Former Internal Auditor for Providing Misleading Information Regarding AML Systems and Controls Remediation -
The Bank of Beirut was fined GBP 2.1 million...more
3/10/2015
/ Banking Sector ,
Banks ,
Capital Markets ,
Chief Compliance Officers ,
Deutsche Bank ,
European Central Bank ,
Eurozone ,
Financial Conduct Authority (FCA) ,
Internal Controls ,
International Banks ,
Sanctions
US Judge Says Sentinel 2007 Transfers to BNY Mellon Cannot Be Reversed as Made in Good Faith -
The Bank of New York Mellon Corporation (formerly Bank of New York) was absolved of having engaged in “egregious...more
12/16/2014
/ Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Broker-Dealer ,
CFTC ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
Hedge Funds ,
Insider Trading ,
Investment Management ,
Liquidation ,
Personal Benefit ,
Securities and Exchange Commission (SEC) ,
Transfers
CFTC Commissioner Raises Ghost of HanMag Securities to Discuss Clearinghouse Risk Management Issues…
Invoking the specter of the default of HanMag Securities Corporation on the Korea Exchange (KRX) last December...more
12/9/2014
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Banking Sector ,
Banks ,
Bureau of Industry and Security (BIS) ,
C-Suite Executives ,
CFTC ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Major Swap Participants ,
Risk Management ,
Sanctions ,
Swaps ,
UBS
Five Banks Penalized US $3.1 Billion by CFTC and UK FCA for Attempted Manipulation of FX Benchmark Rates; OCC Fines Two of the Banks and One More an Additional US $950 Million -
The Commodity Futures Trading Commission...more
CFTC Proposes a Cornucopia of Measures to Avoid Unintended Consequences -
At a public hearing on November 3, the Commodity Futures Trading Commission proposed three measures intended to avoid unintended consequences...more
Senior Fed Officials Encourage Financial Industry Firms to Improve Compliance Culture -
Enhancing culture was the theme at a workshop on “Reforming Culture and Behavior in the Financial Services Industry” held at the...more
10/28/2014
/ ABS ,
Accountants ,
Asset-Backed Securities ,
Banks ,
Broker-Dealer ,
CFTC ,
Chief Compliance Officers ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Culture ,
Credit Suisse ,
Cybersecurity ,
Deferred Compensation ,
Dodd-Frank ,
Enforcement Actions ,
Ethics ,
European Commission ,
Federal Reserve ,
Financial Statements ,
Futures ,
Margin Requirements ,
Merrill Lynch ,
Securities and Exchange Commission (SEC) ,
SIFMA
Court Permits Customer and IB Claims to Proceed Against U.S. Bank Over Peregrine Collapse -
A US federal court in Illinois authorized two lawsuits arising from the collapse of Peregrine Financial Group to proceed...more
9/30/2014
/ Banks ,
Barclays ,
CFTC ,
Class Action ,
Derivatives ,
Enforcement Actions ,
Insolvency ,
Peregrine Financial Group ,
Securities and Exchange Commission (SEC) ,
Swaps ,
US Bank
In this issue:
- SEC Decreases Registration Statement Filing Fees for Fiscal Year 2015
- SEC Adopts Regulation AB II
- US Banking Regulators Propose Margin Requirements for Uncleared Swaps
- CME...more