The Commodity Futures Trading Commission and the Securities and Exchange Commission have issued a joint report identifying areas where the agencies’ regulatory schemes differ and recommending actions to address those differences, where appropriate. In June, the White House released a
Two exchanges formerly owned by Direct Edge Holdings and since acquired by BATS Global Markets are to pay a USD14 million penalty to settle SEC charges that their rules failed to accurately describe the order types being used on the
The Association of Investment Companies says the proposed Alternative Investment Fund Managers Directive fails to take account of the benefits the investment company structure provides for shareholders. In its written evidence to the House of Lords European Union Committee inquiry
The United States Court of Appeals for the Federal Circuit has ruled in favour of the Chicago Board Options Exchange (CBOE) in a seven-year-old patent litigation with the International Securities Exchange (ISE). ISE had claimed that CBOE's Hybrid system infringed
The Alternative Investment Management Association has signalled a new phase of engagement with European policymakers on the European Commission’s draft Directive on Alternative Investment Fund Managers. Andrew Baker (pictured), chief executive of Aima, says: “There is now a broad consensus
The US Commodity Futures Trading Commission has issued a notice of intent to undertake a determination whether 17 contracts offered for trading on the IntercontinentalExchange perform significant price discovery functions. The contracts are: PB&E Citygate Financial Basis; Waha Financial Basis;
Tim Thornton, Chief Data Officer at Mitsubishi UFJ Fund Services, comments on the December 31 FATCA deadline… 31 December sees the deadline for completing due diligence on pre-existing accounts which are prima facie foreign financial institutions (FFIs), depending on the effective
The Securities and Exchange Commission has approved new exchange rules for breaking stock trades that deviate so substantially from current market prices that they are considered “clearly erroneous”. The rules would for the first time provide a consistent standard across
The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges against FCM Deutsche Bank Securities Inc) (DBSI) is to pay a USD 3 million civil penalty to settle CFTC charges relating to failures to properly
The trustee for MF Global will begin making final distributions to satisfy its obligation of full restitution for USD1.212bn in losses sustained by customers when the company failed in 2011. The consent order, entered on 8 November 2013 by Judge
