James M. Brady

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The Financial Industry Regulatory Authority (FINRA) is proposing to expand TRACE reporting requirements to include transactions in U.S. dollar-denominated foreign sovereign debt securities. Under the proposal, this transaction information would be reported for regulatory purposes and would not be publicly disseminated.

Comments on the proposal must be submitted to FINRA by September 24, 2019.

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The Division of Swap Dealer and Intermediary Oversight (DSIO) of the Commodity Futures Trading Commission has issued an advisory clarifying that the initial margin documentation requirement for swap dealers does not apply until the initial margin amount exceeds the regulatory posting threshold of $50 million (which is measured on a group basis). More specifically, DSIO’s…

The Commodity Futures Trading Commission has issued an order granting registration as a derivatives clearing organization (DCO) to Eris Clearing, LLC. The order permits Eris Clearing to clear fully collateralized virtual currency futures contracts. These contracts will be listed for trading on Eris Clearing’s affiliate, Eris Exchange, LLC.
Continue Reading CFTC Grants DCO Registration to Eris Clearing

The Commodity Futures Trading Commission and the Financial Services Agency of Japan (JFSA) have issued a joint statement on the comparability of certain derivatives trading venues in the United States and Japan.
Continue Reading CFTC and Financial Services Agency of Japan Issue Joint Statement on Comparability of Derivatives Trading Venues

The Securities and Exchange Commission has extended the compliance dates for amendments to Rule 606 of Regulation National Market System (NMS) that were adopted in November 2018.

The amendments to Rule 606 require specific additional disclosures for broker-dealers, including disclosure upon customer request of information relating to a customer’s NMS stock orders submitted on a not held basis. The amendments also include public quarterly disclosure of information relating to NMS stock orders submitted on a held basis.
Continue Reading SEC Extends Compliance Date for Regulation NMS Changes

The Financial Industry Regulatory Authority (FINRA) has issued a notice warning member firms that there appears to be an increase in imposter websites designed to mimic firms’ actual websites.

FINRA suggests that member firms take proactive steps to monitor for imposter websites, including registering URL name variations and using monitoring services to watch for imposter…

CBOE Exchange, Inc. (CBOE) recently filed a proposal to amend its Rule 6.49A to delete the provisions therein related to on-floor position transfers and amend the provision regarding presidential exemptions. Generally, CBOE Rule 6.49(a) requires that transactions of option contracts listed on the exchange for a premium in excess of $1.00 to be effected on…