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CFTC releases rule enforcement review of ICE Futures US

CFTC releases rule enforcement review of ICE Futures US

Thu, 08/12/2016 - 14:24

The US Commodity Futures Trading Commission’s (CFTC) division of market oversight has issued the results of a rule enforcement review of ICE Futures US. »

Mark Yallop, FMSB

FMSB issues guidelines on surveillance and training in wholesale markets

Thu, 08/12/2016 - 09:13

Using automated voice surveillance systems and surveillance techniques involving Natural Language Processing are among the emerging practices being used to combat the risk of insider dealing and market manipulation, according to new guidelines from the FICC Markets Standards Board (FMSB). »

US prime money fund assets consolidate post-reform, says Fitch

US prime money fund assets consolidate post-reform, says Fitch

Thu, 08/12/2016 - 07:32

Vanguard and Charles Schwab are set to exert greater influence as prime money fund investors after significant market share gains following the introduction of money market fund reforms, says Fitch Ratings. »

Kevin McPartland, Greenwich Associates

Trump win raises questions about new swaps market regulations

Thu, 08/12/2016 - 07:24

The election of Donald Trump has injected a new element of uncertainty into a US swaps market that was finally finding its footing under its new regulatory framework. »

CFTC re-proposes position limits rule

CFTC re-proposes position limits rule

Tue, 06/12/2016 - 09:30

The US CFTC has voted unanimously to re-propose regulations implementing limits on speculative futures and swaps positions as called for in the Dodd-Frank Wall Street Reform and Consumer Protection Act. »

Colby Jenkins, TABB

TABB sees continued regulatory uncertainty for fixed income markets

Thu, 01/12/2016 - 10:04

The future of the Dodd-Frank Act (DFA), once an unavoidable and burdensome new reality for US fixed income markets, is now completely uncertain under the coming Trump Administration. »

CFTC obtains USD21.8m default judgement against former CBOE member over commodity pool fraud

CFTC obtains USD21.8m default judgement against former CBOE member over commodity pool fraud

Thu, 01/12/2016 - 09:25

The US CFTC has obtained a USD21.8 million default court judgement and permanent injunction against Alvin Guy Wilkinson and his companies Chicago Index Partners and Wilkinson Financial Opportunity Fund in connection with a commodity pool fraud.  »

CFTC grants CME Clearing Europe registration as a DCO

CFTC grants CME Clearing Europe registration as a DCO

Thu, 01/12/2016 - 07:45

The US Commodity Futures Trading Commission (CFTC) has issued an order granting CME Clearing Europe (CMECE) registration as a derivatives clearing organisation (DCO) under the Commodity Exchange Act (CEA). »

Tom Lehrkinder, TABB

USD4.5bn in revenue available for US FCMs in 2016, says TABB Group

Wed, 30/11/2016 - 07:55

The US future commission merchant (FCM) community has been under constant pressure for the last eight years from new regulation, stifling capital rules, declining number of players, a challenging interest rate environment and increasing costs that are all adversely affecting profitability. »

US Federal Court orders Sarao to pay over USD38m for price manipulation and spoofing

US Federal Court orders Sarao to pay over USD38m for price manipulation and spoofing

Fri, 18/11/2016 - 08:57

UK resident Navinder Singh Sarao has been ordered to pay a USD25,743,174.52 civil monetary penalty and USD12,871,587.26 in disgorgement for his role in ‘flash crash’ day. »

Timothy Massad, CFTC

Supervisory stress tests of clearinghouses prove positive

Thu, 17/11/2016 - 09:00

The US Commodity Futures Trading Commission (CFTC) has issued a report detailing the results of a supervisory stress test of five major clearinghouses based in the US and the UK, and the results for all five proved positive. »

Flash crash trader Sarao admits CFTC charges and pleads guilty in criminal action

Flash crash trader Sarao admits CFTC charges and pleads guilty in criminal action

Thu, 10/11/2016 - 09:32

The US Commodity Futures Trading Commission (CFTC) has submitted a proposed consent order that would resolve its civil enforcement action in the US District Court for the Northern District of Illinois against Navinder Singh Sarao.  »

Fabrizio Quirighetti, SYZ Asset Management

Syz comments on Trump victory

Wed, 09/11/2016 - 08:37

Fabrizio Quirighetti, chief investment officer at SYZ Asset Management, has assessed the potential implications for markets following the Trump victory.  »

CFTC issues orders of registration to five foreign boards of trade

CFTC issues orders of registration to five foreign boards of trade

Tue, 01/11/2016 - 13:25

The US Commodity Futures Trading Commission (CFTC) has issued Orders of Registration to five foreign boards of trade (FBOT), allowing them to provide identified members or other participants located in the US with direct access to its electronic order entry and trade matching system. »

MPI’s endowment research shows highest performers in 2016

Fri, 21/10/2016 - 14:40

Research and analytics firm MPI has published an assessment of Ivy League endowments’ 2016 FY Performance. The firm writes that asset allocation remains the largest determining factor in endowment performance. »

Timothy Massad, CFTC

CFTC and FCA sign MOU on supervision of cross-border regulated firms

Fri, 07/10/2016 - 09:21

The US Commodity Futures Trading Commission (CFTC) and the UK Financial Conduct Authority (FCA) have signed a memorandum of understanding (MOU) regarding the supervision of cross-border regulated firms. »

Jeffrey Rosenthal, Anchin, Block & Anchin

Form ADV amendments increase compliance demands

Thu, 06/10/2016 - 11:19

The SEC has recently adopted amendments to its Form ADV. Included are provisions that attempt to get a clearer handle on the extent to which Advisers are using outsourced chief compliance officers, placing even greater scrutiny on smaller managers who are more inclined to outsource the CCO function. »

Ron Geffner. Sadis & Goldberg

Sadis & Goldberg LLP - Best North American Law Firm

Mon, 03/10/2016 - 15:41

Sadis & Goldberg LLP is one of New York's leading financial services focused law firms. Known both domestically and internationally as a dominant force in the financial services sector, Sadis & Goldberg serves clients throughout the world and was recently ranked as one of the top five law firms for hedge fund launches in the 2016 Preqin Global Hedge Fund Report.  »

Daniel Och, Och-Ziff

Hedge fund Och-Ziff reaches USD412m settlement with US DoJ and SEC

Fri, 30/09/2016 - 09:53

Och-Ziff Capital Management is to pay USD412 million to settle US Department of Justice (DoJ) and Securities Exchange Commission (SEC) charges relating its private investment business in Africa and a 2007 investment by the Libyan Investment Authority. »

T+2 ISC welcomes SEC action to facilitate shorter settlement cycle

T+2 ISC welcomes SEC action to facilitate shorter settlement cycle

Thu, 29/09/2016 - 13:54

The T+2 Industry Steering Committee (T+2 ISC) has welcomed recent action by the Securities and Exchange Commission (SEC) to propose a rule change that will facilitate the move to a two-day settlement cycle. »

Wells Fargo fined USD400,000 by CFTC over LTR failings

Wells Fargo fined USD400,000 by CFTC over LTR failings

Wed, 28/09/2016 - 09:30

The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against Wells Fargo Bank for failing to comply with its obligations to submit accurate large trader reports (LTRs) for physical commodity swap positions. »

Anthony Perrotta, TABB

Increased regulation of US Treasury market may cause more harm than good, says TABB

Tue, 27/09/2016 - 14:26

Following the extreme market volatility experienced in October 2014, the regulatory agencies that oversee the US Treasury market began efforts to examine market structure and determine whether increased regulation is required. »

James Burron, AIMA

AIMA Canada welcomes CSA’s update of alt investment legislation

Mon, 26/09/2016 - 07:27

AIMA Canada, the national group of the Alternative Investment Management Association, has welcomed the Canadian Securities Administrator’s (CSA’s) proposed amendments to National Instrument 81-102 and related National Instruments. »

Advantage Futures, CEO and ex-chief risk officer to pay USD15.m to settle CFTC charges

Advantage Futures, CEO and ex-chief risk officer to pay USD15.m to settle CFTC charges

Fri, 23/09/2016 - 13:48

Advantage Futures, a Chicago-based futures commission merchant (FCM), the firm’s CEO Joseph Guinan and former chief risk officer William Steele are to jointly pay USD1.5 million to settle CFTC charges over supervision and risk management failures, and making inaccurate statements in CFTC fillings. »

SEC charges hedge fund manager Leon Cooperman with insider trading

SEC charges hedge fund manager Leon Cooperman with insider trading

Fri, 23/09/2016 - 08:42

The Securities and Exchange Commission (SEC) has charged hedge fund manager Leon G Cooperman and his firm Omega Advisors with insider trading based on material non-public information he learned in confidence from a corporate executive. »

Yieldbroker receives approval to access US market

Yieldbroker receives approval to access US market

Thu, 22/09/2016 - 09:27

Yieldbroker, Australia’s over-the-counter (OTC) interest rate exchange, has become the first foreign-regulated, multilateral swap trading facility to receive long-term approval to access US-based customers. »

Buy-side firms prioritise liquidity and relationships in broker selection process

Buy-side firms prioritise liquidity and relationships in broker selection process

Tue, 13/09/2016 - 08:48

The regulatory challenges and cost pressures facing buy-side firms are putting further demands on the sell-side to prove their relationship value, according to a study by TABB Group. »

Money market funds to reduce ABCP investments with new US and European regulation, says Moody’s

Money market funds to reduce ABCP investments with new US and European regulation, says Moody’s

Mon, 12/09/2016 - 13:26

The overall volumes that money market funds (MMFs) invest globally in asset-backed commercial paper (ABCP) will likely fall as the prime MMF industry shrinks, says Moody's Investors Service. »

Federal Court dismisses Yucaipa lawsuit against Black Diamond and Spectrum

Federal Court dismisses Yucaipa lawsuit against Black Diamond and Spectrum

Mon, 12/09/2016 - 08:56

Alternative investment firm Black Diamond Capital Management and alternative asset manager Spectrum Group Management have received a favourable ruling in their long running dispute with Yucaipa in connection with their investment in Allied Systems.  »

FASB proposes changes to hedge accounting guidance

FASB proposes changes to hedge accounting guidance

Fri, 09/09/2016 - 08:46

The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would make targeted improvements to the accounting guidance for hedging activities. »

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