All regulation news

FINRA fines National Securities Corporation for Reg SHO breaches and other failings

24 June 2022 US
Reporter: SFT

NSC has been instructed to pay approximately US$9 million in fines for a sequence of violations which includes attempting to influence the IPO aftermarket and for failing to obtain locates for short sale transactions under Regulation SHO

Making the right use of regtech has the potential to grow the industry exponentially, says ISLA panellist

17 June 2022 Vienna
Reporter: Jenna Lomax

The conference, organised by the International Securities Lending Association, held a regulation-focused panel, entitled “Beyond Acks & Nacks: The End of Regulatory Reporting as We Know it?”, in which Sloyan made the comment

ESMA postpones CSDR buy-in regime

09 June 2022 EU
Reporter: Carmella Haswell

Market participants have conveyed concerns over “serious difficulties” to implement the mandatory buy-in regime on the scheduled date

EMIR Refit to cause delays and risk of fines, says report

31 May 2022 Europe
Reporter: Carmella Haswell

The Acuiti study found 69 per cent of firms expect challenges regarding matching, reconciliation and exception management capabilities

ISLA responds to EC consultation on CSDR amendments

31 May 2022 EU
Reporter: Bob Currie

The International Securities Lending Association has responded to the European Commission consultation regarding proposed amendments to settlement discipline provisions of the Central Securities Depositories Regulation

J.P. Morgan processes transaction settlement using tokenised MMFs as collateral

26 May 2022 US
Reporter: Bob Currie

Developed jointly by J.P. Morgan Collateral Services and Onyx, the transaction utilises a new blockchain-based application, the Tokenised Collateral Network. J.P. Morgan now plans to extend the model to tokenised equities, FI and other assets

Swedish regulator fines Nordnet for intraday short selling violations

26 May 2022 Sweden
Reporter: Bob Currie

Finansinspektionen has fined online banking provider Nordnet for failing to meet to its terms of service relating to intraday short selling, including deficiencies in its risk management policies and failing in its duty of care to customers

SEC charges US-broker TradeZero with misleading customers over meme stock trading

25 May 2022 US
Reporter: Bob Currie

The US securities market regulator alleges that TradeZero and its co-founder Daniel Pipitone misled customers by stating that they did not restrict customer purchases of meme stocks

ESMA submits final reports on CCP resolution regime

17 May 2022 Europe
Reporter: Carmella Haswell

The report sets out proposals for Regulatory Technical Standards and covers guidelines on the circumstances under which a CCP is deemed to be failing or likely to fail, and on the methodology to value each contract prior to termination

European Commission launches consultation to improve WHT refund procedures for cross-border investors

14 April 2022 EU
Reporter: Bob Currie

The consultation, which extends until 24 June, aims to strengthen controls to prevent cum-ex fraud and to digitalise procedures for WHT reclamation

FCA extend SFTR deadline for third country issuer LEIs

05 April 2022 UK
Reporter: Carmella Haswell

The Financial Conduct Authority will extend UK SFTR reporting of LEIs of non-EEA third country issuers for another 6 months, closely in line with ESMA’s deadline

PRA chief executive issues “Dear CEO” letter highlighting cryptoasset risks

01 April 2022 UK
Reporter: Bob Currie

Sam Woods, chief executive of the UK Prudential Regulation Authority (PRA), has written to CEOs of banks and investment firms to remind them of their obligations under PRA rules regarding exposures to cryptoassets

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