SEC Adds to Crypto Assets and Cyber Unit The Securities and Exchange Commission (SEC) reports adding 20 positions to its crypto assets and cyber unit, which is tasked with “protecting investors in crypto markets and from cyber-related threats.” The unit, in the SEC’s enforcement division, will grow to 50 dedicated positions, officials say. The unit,… Read More >>
Asset Tokenization Could Reinvent Post-Trade Ops: Report
Asset tokenization holds a lot of promise for traditional capital markets, particularly via the underlying blockchain technology. But getting to the new benefits could mean a gradual replacement of some incumbent post-trade platforms, systems, and services. That’s what David Easthope tells FTF News. Easthope is a senior analyst covering market structure and technology for the… Read More >>
‘Like Upgrading an Aircraft Midflight’: Q&A
(Correspondent clearing provider RQD* Clearing (RQD) recently announced that it is broadening its partnership with broker-dealer TradingBlock to cover clearing and execution for the firm’s active and retail trading lines. In addition, RQD and TradingBlock are collaborating on TradingBlock’s forthcoming retail trading platform. TradingBlock, whose clients include proprietary traders and small hedge funds, was among… Read More >>
Medley & Former Co-CEOs to Pay $10M Penalty
Chapter 11 is not a good look for a manager of assets, don’t you think? And a cautionary tale is always valuable to offset the many temptations that beset the financial services industry, yes? Consider: With their own assets on the line just over a year ago, in March 2021, Medley Management LLC, a Delaware… Read More >>
Gensler Pushes for Bond Trading Ops Overhaul
SEC Chair Gary Gensler is calling for a revamp of operations for U.S. fixed income markets — representing $53 trillion in securities — and is calling for price transparency, faster bond reporting, and more transparent post-trade processes, arguing that a new openness would improve counterparty risk management, bolster evaluations of trade execution quality, and increase… Read More >>
SIFMA Urges T+1 Start After Labor Day 2024
One of the leaders in the push for T+1 settlement, SIFMA has relayed in a letter to the SEC its recommendations for the start date of a shorter settlement cycle — Tuesday, Sept. 3, 2024 — and for rule changes that would mitigate “potential adverse consequences.” SIFMA, the Investment Company Institute (ICI), and The Depository… 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 to Scan Private Funds, ESG, Ops & More
It’s that time again. Only this go-round, pardner, there’s a new sheriff at the U.S. Securities & Exchange Commission (SEC). And he’s refocusing priorities. Yup, the SEC Division of Examinations has announced its 2022 examination priorities, which include “several significant areas of focus and many perennial risk areas. The Division will focus on private funds,… Read More >>
Congress Should Rein In Exchanges: SIFMA
SIFMA wants Congress to shake up the legal framework for securities exchanges. This is because some key federal securities laws are preserving advantages for exchanges but may be harming investors, says Ellen Greene, SIFMA managing director, equity and options market structure, in her recent testimony before Congress. But there are ways to fix the situation,… 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 >>
