Compliance Into The Weeds - Year End Review, Part 1
A Commission Delegated Regulation, published in the Official Journal of the European Union, amends the EU Short Selling Regulation to make permanent the lower notification threshold for notifying national regulators of net...more
Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. Today, Matt and I begin a special two-part year-end...more
Gamification tactics and investment advice from social media influencers and chat rooms are just a couple of the disruptive technologies and behaviors that are capturing the attention of regulators in 2021 and forcing them to...more
On October 14, the Securities and Exchange Commission (SEC) released its report regarding the GameStop event of January 2021. The report does not fault the actions of any market participants. Instead, it outlines the U.S....more
The European Securities and Markets Authority has issued a statement on the requirements under the EU Market Abuse Regulation for firms and individuals that make investment recommendations on social media. ESMA is concerned...more
Barclay’s CEO Jes Staley is stepping down immediately after a two-year investigation by the UK’s Financial Conduct Authority and the Prudential Conduct Authority into Staley’s “relationship with the disgraced financier...more
In remarks this week at SEC Speaks, SEC Investor Advocate Rick Fleming mused that the “gamification” of securities trading might pose an undue risk that exploits a potential loophole in Regulation Best Interest (“Reg. BI”)....more
The Securities and Exchange Commission (SEC) will soon release its report and recommendations regarding the GameStop event last January and related equity market structure issues. In testimony before a Senate committee on...more
The SEC and FINRA have been busy of late in efforts to address issues associated with payment for order flow (PFOF) and the consequences of the trading halt in GameStop shares last January. PFOF has potentially significant...more
While the Delta variant threatens Disney’s big theme park reopenings (and its recent return to profit in that sector after a year in the red), Big Mouse’s streaming service continues to deliver. Disney+ wrapped its fiscal Q3...more
The U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have been busy of late in efforts to address alleged compliance issues associated with payment for order flow (PFOF),...more
The GameStop saga continues to play out nearly six months later, with the SEC and other regulators looking at possible enforcement actions. Hogan Lovells partner Aaron Cutler and Chase Kroll, director of strategic...more
After years of protests, lobbying, and legal battles, TC Energy—the Canadian pipeline company behind the embattled Keystone XL pipeline project that “would have carried petroleum from Canadian tar sands to Nebraska”—announced...more
SEC Chair Gary Gensler testified yesterday before the House Committee on Financial Services about the SEC’s efforts to assess and address the market volatility that occurred in GameStop and other “meme stocks” resulting in...more
Yesterday, for the first time as Chair of the Securities and Exchange Commission, Gary Gensler appeared before Congress to provide testimony regarding the market disruptions and volatility witnessed in January 2021 relating...more
The latest and greatest from Fed Chair Powell as the Fed’s March Open Markets Committee meeting wrapped yesterday, including a markets-pleasing assurance that better-than-expected economic growth wasn’t enough to push the...more
What the Reddit group wallstreetbets did with Gamestop in a short squeeze was something quite amazing. I joined in for a couple of days with the purchase of AMC stock that I quickly dumped after only making a couple of...more
In an SEC filing Friday, February 26, Robinhood Financial and Robinhood Securities disclosed they are negotiating with FINRA, the SEC, and state regulators, attempting to settle investigations into options-trading and outages...more
Walmart’s recent move to hire away a “pair of senior Goldman Sachs bankers” to head up the retailer’s new fintech startup (a collaboration with Ribbit Capital) has tongues wagging about the company’s ambitions to shove its...more
UK CCPs: HM Treasury consults on expanded resolution regime - HM Treasury is consulting on an expanded resolution regime for central counterparties (CCPs). HM Treasury intends to revise and expand the UK CCP resolution...more
The Deposit Trust & Clearing Corp. (“DTCC”) released a February 24 roadmap for shortening the settlement cycle for US equities by half over the next two years. The proposal anticipates DTCC’s completion of its “Project ION”...more
In the wake of McKinsey’s $600 million settlement with states over sales advice it had given drugmakers on opioids, partners at the consulting powerhouse have voted out the firm’s top executive, Kevin Sneader. ...more
Your Federal Reserve update based on Chair Powell’s testimony before the Senate Banking Committee on Tuesday, including pushing back against concerns that the “economy is on the cusp of running too hot” ...more
Recently, the Roaring Kitty (aka Keith Gill) and his brethren made headlines with their trading (most notably in GameStop) and the impact it had on certain hedge funds and banks. The interest on this saga seems to be...more
Boeing needs another aircraft problem like a hole in the head, but that’s just what it got after a right-engine explosion on one of its 777-200 models that had just left Denver en route to Hawaii. ...more