Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
2/15/2024
/ Banking Sector ,
CFTC ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
UK
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
12/14/2023
/ Artificial Intelligence ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
EU ,
False Claims Act (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
Machine Learning ,
Non-Fungible Tokens (NFTs) ,
Stablecoins ,
UK
Four Key Considerations Since SEC Amended Form PF -
In early May, the Securities and Exchange Commission (SEC) adopted a final rule amending Form PF, the confidential reporting form for certain SEC-registered investment...more
6/14/2023
/ Biometric Information Privacy Act ,
CFTC ,
Climate Change ,
Crypto Exchanges ,
Cryptoassets ,
Data Privacy ,
Digital Assets ,
Environmental Social & Governance (ESG) ,
EU ,
False Claims Act (FCA) ,
New Legislation ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Texas ,
UK ,
Whistleblowers
SEC to Inspect Firms for Compliance With New Advertising and Solicitation Rule -
November 4 is the compliance date for the new rule governing advertising and solicitation activities by investment advisers. The new rule...more
10/13/2022
/ Advertising ,
B2B Transactions ,
Bribery ,
California Consumer Privacy Act (CCPA) ,
CFTC ,
Cryptoassets ,
Decentralized Autonomous Organization (DAO) ,
Energy Market ,
EU ,
Foreign Investment ,
Joint Audit Committee ,
National Security ,
Securities and Exchange Commission (SEC) ,
UK
The blockchain technology that powers cryptocurrency originated in an obscure white paper, anonymously published under the name Satoshi Nakamoto in 2008. In the 13 years following its publication, the cryptocurrency industry...more
7/16/2021
/ Blockchain ,
CFTC ,
Corporate Culture ,
Corporate Governance ,
Corporate Social Responsibility ,
Cryptocurrency ,
Environmental Social & Governance (ESG) ,
EU ,
Green Initiatives ,
Human Rights ,
Popular ,
Securities and Exchange Commission (SEC) ,
Sustainability
BROKER-DEALER -
FINRA Publishes Notice to Members Encouraging Continued Disclosure of Digital Assets Activities –
On July 18, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 19-24...more
7/22/2019
/ Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
New Guidance ,
Proposed Rules ,
Public Offerings ,
Reporting Requirements ,
Virtual Currency
A well-renowned think tank sued the Securities and Exchange Commission claiming that the SEC’s prohibition against respondents contesting allegations in enforcement settlements violates the freedom of speech guarantee under...more
1/15/2019
/ Cryptoassets ,
Cryptocurrency ,
Enforcement Actions ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Gag Orders ,
Information Systems Security Program (ISSP) ,
National Futures Association ,
Securities and Exchange Commission (SEC) ,
Wash Trades
A federal judge said that it is not a violation of federal law for a trading firm and its chief executive officer to be smarter than their counterparties in ruling against the Commodity Futures Trading Commission in an...more
12/11/2018
/ BSA/AML ,
CFTC ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Cybersecurity ,
Enforcement Actions ,
EU ,
FinCEN ,
National Futures Association ,
Price Manipulation ,
UK ,
UK Brexit ,
Virtual Currency
SEC/CORPORATE -
SEC Division of Corporation Finance Issues C&DIs Regarding Notices of Exempt Solicitation -
On July 31, the staff of the Division of Corporation Finance (the Staff) of the Securities and Exchange...more
8/13/2018
/ Board of Directors ,
C&DIs ,
Corporate Governance ,
Derivatives Clearing Organizations ,
EU ,
Financial Conduct Authority (FCA) ,
MiFID II ,
MiFIR ,
National Futures Association ,
UK ,
UK Brexit ,
Virtual Currency
BROKER-DEALER -
FINRA Encourages Firms To Disclose Activities Related to Digital Assets -
On July 6, the Financial Industry Regulatory Authority published Regulatory Notice 18-20, which encourages member firms to...more
7/16/2018
/ Bonds ,
Consultation ,
Digital Assets ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
ISDA ,
MiFID II ,
Prospectus ,
Senior Management Regime (SMR) ,
Third Country Entities (TCEs) ,
UK ,
UK Brexit
FINRA Hands Out Report Cards on Potential Spoofing and Layering: The Financial Industry Regulatory Authority said that it issued its first cross-market equities report cards aimed at helping member firms identify potential...more
5/3/2016
/ Audit Policies ,
CFTC ,
Cybersecurity ,
Enforcement Authority ,
EU ,
Futures ,
GAO ,
High Frequency Trading ,
Layering ,
MiFID II ,
Spoofing
SEC/CORPORATE SEC Releases Registration Fee Estimator
On April 18, the Securities and Exchange Commission announced the release of an online tool that will assist companies in calculating registration fees relating to...more
4/25/2016
/ Business Conduct Standards ,
Canada ,
Chief Compliance Officers ,
Dodd-Frank ,
EDGAR ,
EU ,
High Frequency Trading ,
Major Swap Participants ,
Memorandum of Understanding ,
NCUA ,
Pensions ,
SFTR ,
UK
Industry Comments to Regulation AT Argue CFTC Proposed Rules Too Prescriptive; Registration and Source Code Requirements Particularly Objectionable -
After declining multiple requests to extend the comment period that...more
3/22/2016
/ Algorithmic Trading ,
Capital Requirements ,
Central Counterparties ,
Comment Period ,
CPO ,
Derivatives Clearing Organizations ,
Designated Contract Markets (DCMs) ,
Enforcement Actions ,
EU ,
Forex ,
Major Swap Participants ,
NFA ,
Recordkeeping Requirements ,
Serious Fraud Office (SFO) ,
Swap Dealers ,
UK
On February 10, the Commodity Futures Trading Commission and the European Commission (EC) announced that they had reached an agreement on a harmonized approach to central clearing counterparties (CCPs). The agreement ensures...more
BROKER-DEALER -
Change to the No-Action Relief Regarding Definition of “Ready Market” With Regard to Foreign Equity Securities Pursuant to SEC Rule 15c3-1(c)(11)(i) -
On February 9, the Securities and Exchange...more
2/15/2016
/ AML/CFT ,
Central Counterparties ,
CFTC ,
EU ,
EU Directive ,
European Commission ,
Financial Conduct Authority (FCA) ,
No-Action Relief ,
Private Placements ,
Public Offerings ,
Terrorism Funding ,
UCITS
SEC/CORPORATE -
SEC Settles With Adviser That Allegedly Overcharged Management Fees and Misled Investors -
On January 19, the Securities and Exchange Commission announced that it had settled with Equinox Fund...more
ESMA Publishes Final Technical Standards for MiFID II -
The European Securities and Markets Authority issued the equivalent of final rules (known as “technical standards”) to implement three cornerstones of the European...more
10/6/2015
/ Broker-Dealer ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Credit Suisse ,
Disruptive Trading Practices ,
Electronic Blue Sheets ,
Enforcement Actions ,
EU ,
European Securities and Markets Authority (ESMA) ,
False Statements ,
Financial Industry Regulatory Authority (FINRA) ,
JPMorgan Chase ,
Lehman Brothers ,
Material Violation ,
MiFID ,
OCR ,
Proprietary Trading ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Technical Standards
Charles Schwab Fined US $2 Million by FINRA for Net Capital Deficiencies: Charles Schwab & Co. agreed to pay US $2 million to the Financial Industry Regulatory Authority to resolve allegations that it had net capital...more
9/1/2015
/ Administrative Hearings ,
Administrative Law Judge (ALJ) ,
Anti-Money Laundering ,
Appeals ,
Barclays ,
Block Trades ,
BNP Paribas ,
Capital Requirements ,
CFTC ,
Charles Schwab ,
Corporate Fines ,
Dark Pool ,
Dealers ,
Derivatives ,
Dismissals ,
EU ,
European Securities and Markets Authority (ESMA) ,
Exchange-Traded Products ,
Financial Industry Regulatory Authority (FINRA) ,
Flash Boys ,
High Frequency Trading ,
Investment Adviser ,
Liquidation ,
National Futures Association ,
Office of Foreign Assets Control (OFAC) ,
Proposed Regulation ,
Sanctions ,
SAR ,
Securities and Exchange Commission (SEC) ,
Stress Tests ,
UBS
CME Group Files Disciplinary Actions for Trading Ahead of Block Trades and Failure to Supervise an Employee Engaging in Disruptive Trading Activities -
In two cases of first impression, CME Group exchanges brought and...more
8/25/2015
/ Audits ,
Bank of New York (BNY) Mellon ,
Block Trades ,
Broker-Dealer ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
CME NYMEX ,
Disruptive Trading Practices ,
DMO ,
Employer Liability Issues ,
Enforcement Actions ,
EU ,
Foreign Corrupt Practices Act (FCPA) ,
Internships ,
Investment Adviser ,
Material Nonpublic Information ,
NYDFS ,
OIG ,
Recordkeeping Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Swap Clearing ,
Swaps
ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD -
The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more
8/11/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
BATS Exchange ,
Broker-Dealer ,
CBOE ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Dark Pool ,
Disclosure Requirements ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
Virtual Currency ,
Wash Trades
ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD:
The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more
8/4/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Australia ,
Broker-Dealer ,
Canada ,
CBOE ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
CME NYMEX ,
Dark Pool ,
Disruptive Trading Practices ,
Enforcement Actions ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Fund Managers ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Internal Controls ,
Japan ,
Securities and Exchange Commission (SEC) ,
Virtual Currency ,
Wash Trades
FC Stone Companies and Goldman Sachs Receive Largest Fines in CME Group’s 27 Disciplinary Actions Cascade:
CME Group handed down sanctions in 27 separate disciplinary actions last week for alleged violations of rules...more
7/28/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
AML/CFT ,
Broker-Dealer ,
Capital Requirements ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Commercial Bankruptcy ,
Commodity Trading Advisors (CTAs) ,
Creditors ,
Dodd-Frank ,
DSIO ,
EU ,
European Securities and Markets Authority (ESMA) ,
Goldman Sachs ,
ISDA ,
Rare Earth Metals ,
Sanctions
Alleged Fictitious Sales to Facilitate Improper Money Pass Prompts CFTC Injunctive Action and Asset Freeze: The Commodity Futures Trading Commission filed a lawsuit in a federal court in Illinois against Yumin Li and Kering...more
7/14/2015
/ Asset Freeze ,
Bank Holding Company ,
Banking Sector ,
Broker-Dealer ,
CFTC ,
Commodity Futures Contracts ,
Corporate Governance ,
Energy Market ,
EU ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Investment Funds ,
REMIT ,
Retirement Plan ,
Risk Management ,
Securities ,
Securities Fraud ,
Wells Fargo