SRO Archives - The Industry Spread

NFA Sanctions a Wells Fargo Division

August 12, 2019

“On August 9, 2019, the Committee issued a complaint against Wells Fargo, a provisionally registered swap dealer and NFA member with its main office located in San Francisco, California. The complaint alleges Wells Fargo violated NFA Compliance Rule 2-49 (a) by failing to communicate with a counterparty in a fair and balanced manner as required under Commodities Futures Trading Commission Regulation 23.433,” the decision stated. 

Barbados Issues License for Tokenise’s Digital Asset Platform, Daxnet

July 5, 2019

Tokenise’s structure is an end-to-end solution for capital raising, enabling the primary issuance, secondary trading, clearing, settlement and registration of tokenised securities, which aims to create a market and trading infrastructure that will provide access, liquidity and flexibility to investors wishing to trade tokenised assets. 

Futures SRO Talks Budget

June 27, 2019

Meanwhile, the relationship between NFA and CFTC is like FINRA’s relationship with the Securities and Exchange Commission (SEC). All its rule changes must be approved, which is what that surcharge is waiting.

FINRA Budget Examined

April 24, 2019

It’s consistent with our guiding principles that we will rely on our reserves before we take price increases,” he said. “More importantly, I’m not worried about the draw down this year on reserves because we continue to look at ways to operate the place more effectively and efficiently.”

CFTC Unanimously Approves Project KISS Rulemakings to Ease Regulatory Burdens

April 2, 2019

The Commodity Futures Trading Commission (CFTC) announced today that it has unanimously approved Project KISS Rulemakings to simplify registrants’ obligations. The Commission unanimously approved amendments to Regulations 23.700 through 23.704.  These regulations govern the segregation of assets held as collateral in uncleared swap transactions.

FINRA to Upgrade Registration System

March 12, 2019

The transformation aims to increase the utility and efficiency of the registration and disclosure process for firms, investors and regulators, as well as to reduce compliance costs for firms. FINRA’s Board of Governors has approved moving forward with the project, which FINRA expects to complete in 2021