In October 2020, SEC staff raised concerns that several broker-dealers were not fulfilling their obligations under Rule 15c3-3 by retaining control over the collateral used to secure borrowings of fully paid and excess margin securities
The sponsored cleared repo sector has climbed from approximately $30 billion in daily volume in early 2017 to a peak of over $525 billion in March 2019, with daily volumes in recent months consistently above $200 billion
Despite a year of SFTR reporting, the European regulator’s data quality report is sparse on detail but ESMA says it’s on the case and will build out its findings next year
As the agency faces new challenges — crypto, post-GameStop retail investing, ESG, to name a few — the appointment of Gary Gensler signals the end of the Trump administration’s hands-off approach to financial markets
