On November 18, the Commodity Futures Trading Commission (CFTC) unanimously approved a final rule (Final Rule) amending CFTC regulations relating to the execution of “package transactions” on swap execution facilities (SEFs) and the resolution of error trades on SEFs. Continue Reading CFTC Unanimously Approves Final Rule Amending SEF Requirements

On November 16, the UK’s HM Treasury, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) jointly published a statement on the introduction of the new Investment Firms Prudential Regime (IFPR) and the UK implementation of Basel standards reflecting the CRR II Regulation (the Statement). Continue Reading Regulatory Capital – UK Authorities Jointly Publish Statement on New UK Prudential Rules

The Financial Industry Regulatory Authority (FINRA) announced that it is conducting a review of firms’ systems and procedures for providing waivers and rebates to customers through Rights of Reinstatement (ROR) on mutual fund purchases. Continue Reading FINRA Conducts Review of Waiver and Rebate Systems and Procedures with Respect to Mutual Fund ROR Purchases

On November 6, the Commodity Futures Trading Commission (CFTC) announced that it had issued an Order of Registration to ICE Futures Abu Dhabi Limited (IFAD), a Foreign Board of Trade (FBOT) incorporated in the Abu Dhabi Global Market and located in Abu Dhabi, United Arab Emirates. Continue Reading CFTC Issues Order of Registration to ICE Futures Abu Dhabi Limited to Permit Trading by Direct Access from the United States

The National Risk Committee (NRC) of the Office of the Comptroller of the Currency (OCC) published its Semiannual Risk Perspective Fall 2020 on November 9. The semiannual report included numerous findings with respect to the health of the nation’s national banks and federal savings banks, including the following: Continue Reading OCC Issues Semiannual Risk Perspective

On November 9, the Chancellor of the UK’s HM Treasury announced its intention to provide equivalence decisions to European Economic Area (EEA) States and Member States of the European Union (EU) that will come into effect at the end of the Brexit transition period (the Announcement). Continue Reading HM Treasury Announced Equivalence Decisions for EEA and EU Member States

On November 6, the European Securities and Markets Authority (ESMA) published a consultation paper on draft guidelines on obligations regarding market data under the Markets in Financial Instruments Regulation (MiFIR) and Markets in Financial Instruments Directive (MiFID II) (the Consultation Paper). Continue Reading ESMA Publishes Draft Guidelines on MiFIR and MiFID II Market Data Obligations

On November 6, the European Securities and Markets Authority (ESMA) updated its guidance on the Annex to its opinion determining transparency for third-country trading venues under the Markets in Financial Instruments Regulation (MiFIR) (the Guidance). Continue Reading ESMA Updates Annex to Opinion Determining Third-Country Trading Venues Under MiFIR

On November 9, the European Securities and Markets Authority (ESMA) published a decision of its board of supervisors (held on November 5) on the delegation to the ESMA chair of the assessment of third-country trading venues (TCTVs) under Articles 20 and 21 of the Markets in Financial Instruments Regulation (MiFIR) (the Decision). Continue Reading ESMA Published Decision on MiFIR Assessments of Third-Country Trading Venues