TRAction, a regulatory reporting services provider, has launched a new solution to assist UK and European investment managers with their MiFID II obligations to monitor and give clients the best possible execution outcomes.
Legal & Regulation
The European Energy Exchange AG (EEX) has been registered as an administrator in accordance with Article 34 of the EU Benchmark Regulation (Regulation (EU) 2016/1011 of 8 June 2016) approved by the Federal Financial Supervisory Authority (BaFin).
The Derivatives Service Bureau (DSB), founded by the Association of National Numbering Agencies (ANNA) to facilitate the allocation and maintenance of International Securities Identification Numbers (ISINs), Classification of Financial Instrument codes (CFIs) and Financial Instrument Short Names (FISNs), for OTC derivatives, has announced the 2020 industry consultation timeline, bringing publication of annual user fees forward and moving to a single in-depth consultation.
Fitch Ratings views the recent Notice of Proposed Rulemaking (NPR) issued by regulators to amend the Volcker Rule and relax limits on certain private equity (PE) and hedge fund investments, known as "covered funds" as indicative of loosening regulation and recalibration of post-crisis regulatory rules.
The Commodity Futures Trading Commission CFTC has filed a civil enforcement action charging Winston Reed Investments LLC (WRI) and its vice president and investment consultant, Mark N Pyatt a/k/a Daniel Randolph, a former North Carolina resident, with misappropriation of customer funds and fraudulent solicitation in connection with a commodity pool.
The Alternative Investment Management Association says the plan to add the Cayman Islands – the major offshore domicile for the global hedge fund industry – to a tax haven blacklist remains an “open matter” until any formal decision is reached.
The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Matthew . White and MW Global Futures LLC (MWGF), both of Florida, for fraudulently soliciting approximately USD1.2 million for a pooled investment vehicle trading commodity futures contracts, misappropriating over USD280,000 in pool participants’ funds to pay for personal expenses, and operating without registration as required.
The Commodity Futures Trading Commission has filed a civil enforcement action against defendants Q3 Holdings, and Q3 I, and their principal, Michael Ackerman for fraudulently soliciting over USD33 million to purportedly trade digital assets and misappropriating a substantial portion of the funds raised.
City law firm McCarthy Denning has appointed Justin Conway, a pan-European Special Situations and Credit Trading lawyer, as a Partner in its Banking & Finance Department.
International law firm Sullivan & Worcester has appointed Jennifer Pastarnack as a partner to lead its firmwide Global Debt and Claims Trading practice in New York.