An Overview of the SEC’s Recently Adopted Exchange-Traded Funds (ETF) Rule
Recent regulatory developments of interest to financial institutions and markets. Includes updates on MiFIR open access regime for trading and clearing ETDs and various ESMA Q&A updated....more
AT&T announced yesterday that it’s resolved an ongoing battle with activist Paul Singer and his Elliott Management by agreeing to keep CEO Randall Stephenson on the job through “at least 2020,” with the chair and CEO roles to...more
U.S. Developments - VanEck and SolidX to Offer Bitcoin ETF to Qualified Institutional Buyers - On September 3, 2019, VanEck Securities Corp. and SolidX Management LLC announced that they are seeking to use Rule 144A of...more
FCA finalises guidance on cryptoassets and consults on product intervention measures. FCA guidance on the regulation of cryptoassets - As previously reported in this blog, the FCA consulted on guidance on cryptoassets...more
HM Treasury has laid before Parliament a draft of the Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019. The draft Regulations grant HM Treasury...more
Central Bank publishes the fifth edition of its investment firms Q&A - The Central Bank of Ireland published the fifth edition of its Investment Firms Questions and Answers (the “Q&A”) on October 8, 2018, containing an...more
The European Securities and Markets Authority has published a list of trading venues exempt from the open access requirements of the Markets in Financial Instruments Regulation under transitional arrangements for...more
BROKER-DEALER - SEC Provides Notice of Fixed Income Market Structure Advisory Committee - The Securities and Exchange Commission Fixed Income Market Structure Advisory Committee recently announced that it will hold a...more
Tesla’s hoping that a manufacturing plant in China—the first in the country wholly owned by a foreign manufacturing company—will translate into big sales in the Chinese market. With the Chinese government loath to give up the...more
The European Commission has published a Report to the European Parliament and the Council recommending that Exchange-Traded Derivatives (ETDs) do not need to be excluded from the scope of the provisions of the Markets in...more
BROKER-DEALER - SEC Chair Gives Speech on Equity Market Structure - On September 14, Securities and Exchange Commission Chair Mary Jo White gave a speech titled “Equity Market Structure in 2016 and for the Future”...more
BROKER-DEALER - SEC Approves FINRA’s Proposed Expansion of Supplement Schedule for Derivatives and Off-Balance Sheet Items - On April 5, the Financial Industry Regulatory Authority released Regulatory Notice 16-11...more
BROKER-DEALER - FINRA Proposes Amendment to Transactions in Exchange-Traded Managed Fund Shares Rule - On March 29, the Financial Industry Regulatory Authority filed with the Securities and Exchange Commission a...more
ESMA Final Report on Complex Debt Instruments and Structured Deposits - On 26 November 2015, the European Securities and Markets Authority (“ESMA”) published its Final Report on its “Guidelines on complex debt...more
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
BaFin Issues New Guidance on Debt Funds - The German Financial Supervisory Authority, BaFin, made a significant change to its administrative practice on 12 May 2015 regarding loan originating and loan restructuring...more
On July 23, ESMA published a discussion paper on how the limits on counterparty risk in centrally cleared OTC derivative transactions under the UCITS IV Directive should be calculated, and whether the same rules for both OTC...more
At their September 2009 summit in Pittsburgh, G20 leaders agreed that by no later than December 2012, all standardised over-the-counter (OTC) derivatives should be traded on exchanges or electronic trading platforms ‘where...more
On March 7, the European Banking Authority (EBA) issued an opinion addressed to National Supervisory Authorities (NSAs) on good practices for credit institutions in their risk management of exchange traded funds (ETFs). ...more
In this issue: - Recent SEC Speeches Focus on Investor Protection and Disclosure - SEC 2013 Examination Priorities - CFTC Revises Clearing Compliance Schedule for iTraxx CDS Indices - SEC Division...more