An overhaul is coming for Form N-PORT via amendments recently passed by the Securities and Exchange Commission (SEC). “Form N-PORT reports provide important information about a fund’s portfolio holdings and related information to help assess a fund’s risks,” the SEC explains. “The Form N-PORT amendments will require … generally registered open-end funds, registered closed-end funds,… Read More >>
Buy Side Seeks FX T+1 Settlement Workarounds
Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC) descended upon a European Commission workshop on T+1 settlement last week to urge regulators to include foreign exchange (FX) in their efforts to reduce settlement times in coordination with central banks, the Bank for International Settlements (BIS), and CLS Bank. One trade association in… Read More >>
SEC Rule to Spur Sec Lending Reporting Platforms
The SEC is changing securities lending via a new rule and that will cause securities firms to develop their own reporting platform or use a third-party reporting agent, says Kevin McNulty, managing director, head of RegTech Solutions at Equilend, a securities lending platform provider. The rule requires firms to report securities lending data to a… Read More >>
SIFMA Criticizes SEC’s Rulemaking Under Gensler
SEC Chair Gary Gensler has recently come under fire for the 63 new rules that have been proposed during his time at the helm. One of the most prominent voices in the U.S. securities industry Kenneth E. Bentsen, Jr., president and CEO of SIFMA, is taking on Gensler and is offering data to back up… Read More >>
Should Congress Fire Gary Gensler?
To say the least, the Securities and Exchange Commission (SEC) as led by the controversial Gary Gensler has been busy since the start of the Biden administration. Some people in the securities industry applaud Chair Gensler’s accelerated initiatives while others are up in arms. In particular, Gensler has raised the stakes recently with his dramatic… Read More >>
SEC Hits Back at Coinbase
It looks like the SEC and Coinbase, Inc. will have their day in court. The SEC raised the legal stakes last week by charging the cryptocurrency exchange with illegally running its crypto-asset transaction platform “as an unregistered national securities exchange, broker, and clearing agency,” and that Coinbase allegedly failed to register the sale of its… Read More >>
Did Genesis Global Capital & Gemini Trust Break the Law?
Crypto has faced some tough times lately, though the kids who are among its most fervent boosters keep insisting that the value of their shiny coins will rebound in 2023. Like, for sure. Faster than you can say Winklevoss! Good times for us and the brothers must be right around the corner, right? Well, it… Read More >>
Nasdaq Launches a Digital Assets Business & Other News
Nasdaq Establishes a Custody Solution for Digital Assets Nasdaq reports the launch of a new business that it says will “power the digital asset ecosystem.” The new business “underpins Nasdaq’s ambition to advance and help facilitate broader institutional participation in digital assets by providing trusted and institutional-grade solutions, focused on enhanced custody, liquidity and integrity,”… Read More >>
Crypto-Token Securities Need to Be Regulated: Gensler
The wild, wild west for crypto-tokens could be ending as SEC Chair Gary Gensler has asked SEC and CFTC staff to look into how these innovative instruments should be registered and regulated by the SEC. Gensler made his priorities clear during a speech earlier this week that focused on cryptocurrency markets. Among other issues, his… Read More >>
SEC Advances Climate Risk Disclosure Rules
As many expected it would, the Securities and Exchange Commission (SEC) is pushing for new rules that will require public companies to report more details about the climate-related risks that could “have a material impact on their business, results of operations, or financial condition.” But not everyone is on board with this move, including a… Read More >>
