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 >>
SEC Gets Serious About Cybersecurity Risks
We know that Vladimir Putin commands an army of hackers that he’s unleashed before — to interfere in American elections and to spread social-media disinformation. The current media and intelligence-services consensus is that — in the wake of the multiple economic sanctions imposed on him and his henchmen over the war against Ukraine — he’s… Read More >>
A Whistleblower’s $14M Payday & Other News Briefs
Whistleblower Led SEC to Ongoing Fraud A whistleblower that published an online report about “an ongoing fraud” wound up with a $14 million payday from the SEC, according to the latest award announcement from the regulator. The whistleblower went to the SEC after posting the report “and was persistent in reaching out to the staff,… Read More >>
CNR & SEC Settle Client Fraud Charges for $30M
Boutique registered investment adviser City National Rochdale (CNR) will pay more than $30 million to settle charges that its “undisclosed conflicts of interest defrauded current and prospective clients,” the U.S. Securities and Exchange Commission (SEC) reports. The $30 million-plus from CNR will be placed into an SEC fund for distribution to “harmed investors.” SEC officials… Read More >>
E.U. Leads U.S. in ESG Regulatory Guidance: Report
A new report just might provide a reality check for the recent commentary about climate change, the financial services industry, and regulators in America and around the world. But there’s a catch. According to the report, the United States “has a number of significant financial regulators and a far more complex regulatory landscape than the… Read More >>
