Gary DeWaal on industry regulation

Regulatory Update

Last week, the Securities and Exchange Commission issued its first rules governing cross-border transactions involving security-based swaps. Overall these rules are parallel to guidance previously adopted by the Commodity Futures Trading Commission, but differ in some important respects. Also last week, the Financial Industry Regulatory Authority issued a red flag to a broker-dealer and its CEO for engaging in fraud against many current and former U.S. professional football and basketball players. Talk about unsportsmanlike conduct!

As a result, the following matters are covered in this week’s Bridging the Week:

  • SEC Adopts First Rules and Guidance Related to Cross-Border Security-Based Swap Activity; Describes When Registration Is Required and the Scope of the Agency’s Cross-Border Anti-Fraud Authority;
  • Barclays Charged by New York State in Connection With the Marketing and Operation of Its Dark Pool; SEC Orders Study on the Impact of Tick Size on Market Quality;
  • Broker-Dealer Success Trade Securities and its President Expelled From FINRA for Ripping Off Many Former NFL and NBA Players Through a Ponzi Scheme;
  • ESMA Publishes Revised EMIR Q&As; Adds New Matters Related to Reporting to Trade Repositories and of Exchange-Traded Derivatives; and more.

To access the video and article versions of this week’s Bridging the Week, click Here:

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