The Financial Industry Regulatory Authority (FINRA) is seeking comment on rules, operations and administrative processes that may create unintended disparate impacts on those within the industries that FINRA regulates. Continue Reading FINRA Seeks Comment Regarding Diversity and Inclusion Initiatives
The Financial Industry Regulatory Authority (FINRA) is requesting comment on proposed amendments to Rule 4210 (Margin Requirements) that seek to clarify current interpretations related to extended settlement transactions. Continue Reading FINRA Seeks Comment on Proposed Amendments to Margin Rule Requirements
On May 5, the Commodity Futures Trading Commission (CFTC) announced that it had issued an Order of Registration to Mercado Mexicano de Derivados, S.A. de C.V. (MexDer), a Foreign Board of Trade (FBOT) and subsidiary of the Mexican Stock Exchange located in Mexico City, Mexico. Continue Reading CFTC Issues Order of Registration to Mercado Mexicano de Derivados, S.A. de C.V. to Permit Trading by Direct Access From United States
On May 3, the Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission (CFTC) published Staff Letter No. 21-13 (Staff Letter), providing CX Clearinghouse, L.P. (CX) with no-action relief from specified Part 39 regulations applicable to derivatives clearing organizations (DCO). Continue Reading CFTC Issues No-Action Response Letter Providing Relief to DCO From Complying With Specified Part 39 Regulatory Requirements
On April 29, the Financial Conduct Authority (FCA) published a discussion paper (DP21/1) on strengthening its financial promotion rules for high-risk investments and firms approving financial promotions. Continue Reading FCA Publishes Discussion Paper on Strengthening Financial Promotion Rules for High-Risk Investments and Firms Approving Financial Promotions
On May 5, the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) published a consultative document on changes to the technical guidance on the harmonization of critical over-the-counter (OTC) derivatives data elements (CDE Technical Guidance). Continue Reading LEI ROC Consults on Changes to Technical Guidance on Harmonization of Critical OTC Derivatives Data Elements
On May 5, HM Treasury announced its intentions to remove the UK Markets in Financial Instruments Regulation (UK MiFIR) from the open access regime for exchange traded derivatives (ETDs). Continue Reading HM Treasury Intends to Remove UK MiFIR Open Access Regime for ETDs
On April 26, the Securities and Exchange Commission announced that its Small Business Capital Formation Advisory Committee (Committee) will meet on Friday, April 30, to discuss solutions to increase access to capital for underrepresented founders and investors from smaller, regional funds. The meeting will include a presentation from the Office of the Advocate for Small Business Capital Formation analyzing access to capital across demographic groups and geographies. The Committee will then deliberate on potential recommendations to improve equitable access to capital.
On March 10, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-09 announcing FINRA’s adoption of new rules to address brokers with a significant history of misconduct and the broker-dealers that employ them, as discussed in the March 12, 2021 edition of Corporate & Financial Weekly Digest). Amendments to FINRA Rule 8312 (FINRA BrokerCheck Disclosure), which require FINRA to release through BrokerCheck which firms are “taping firms,” which are member firms with a specified percentage of registered persons who have been associated with disciplined firms in a registered capacity in the last three years, will become effective May 1.
On April 28, the Securities and Exchange Commission announced that Alex Oh resigned her position as Director of the Division of Enforcement. Melissa Hodgman, who had previously served as the Acting Director of the Division of Enforcement prior to Ms. Oh’s appointment, will return to such role.