regulatory Archives - The Industry Spread

SEC, NASAA, and FINRA Issue Senior Safe Act Fact Sheet to Help Promote Greater Reporting of Suspected Senior Financial Exploitation

June 2, 2019

In recognition of the one-year anniversary of the passage of The Senior Safe Act, the Securities and Exchange Commission, the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) have issued a fact sheet to help raise awareness among broker-dealers, investment advisers, and transfer agents of the Act and how the Act’s immunity provisions work.

LCH Group Selects UnaVista for Its SFTR-compliant Trade Repository

May 26, 2019

UnaVista is delighted to announce that it has been selected by LCH’s RepoClear as their trade repository to meet their reporting obligations under the Securities Financing Transaction Regulation (SFTR). LCH Group’s Collateral and Liquidity Management function will also be using UnaVista for its SFTR reporting. SFTR is scheduled to go live in April next year and will require firms to report details of their Securities Financing Transactions (SFTs) to an approved trade repository. Known as the ‘MiFID II for repo’, the regulation is designed to increase transparency, allowing regulatory authorities to assess the risks associated with these transactions. LCH provides Europe’s leading clearing service for government bond and repo markets, with €197 trillion cleared across the group in 2018.

CFTC Provides Further Brexit-Related Market Certainty

March 30, 2019

The Commodity Futures Trading Commission (CFTC) passed by unanimous vote at today’s open Commission meeting a provision to provide greater market certainty to the global marketplace in the event of a “no-deal Brexit” precipitated by the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union without a negotiated withdrawal agreement.

SEB Selects DTCC’s Global Trade Repository in Support of Its SFTR Obligations

March 21, 2019

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that Skandinaviska Enskilda Banken AB (SEB) has selected its multi-award winning Global Trade Repository (GTR) service in order to meet their regulatory obligations under the Securities Financing Transactions Regulation (SFTR), which is expected to apply from April 2020.

Foreign Trading Platform and Its CEO to Pay $990,000 for Illegal Bitcoin-Related Transactions with U.S. Customers

March 15, 2019

The Commodity Futures Trading Commission (CFTC) announced today that a federal court entered a Consent Order (Order) resolving a CFTC action against 1pool Ltd., located in the Marshall Islands, and its chief executive officer and owner, Patrick Brunner, for illegally offering retail commodity transactions that were margined in bitcoin, failing to register as a futures commission merchant (FCM), and failing to meet its supervisory duties by not having the required anti-money laundering procedures in place. 

President Ueli Maurer’s review after 31 bilateral meetings at WEF 2019

January 31, 2019

President Ueli Maurer held 31 meetings with heads of state and government, finance ministers and high-ranking private sector representatives. Aside from bilateral issues, the main topics of his talks were the development of the world economy, European issues, financial and tax issues as well as digital transformation.

IIROC Releases Compliance Priorities Report for 2018/19

January 20, 2019

The Investment Industry Regulatory Organization of Canada (IIROC) today published its annual Compliance Priorities Report a review of the issues and trends identified through the past year’s compliance and registration activities, that also provides a preview of areas of regulatory focus for the coming year.