Regulation
Banks eye ‘nirvana’ in machine-executable swaps reporting
Coded reporting requirements could save banks “millions” in compliance costs, bank execs say.
Reg ATS: SEC 'bowing to public pressure' in reopening proposal
The US markets regulator has extended the comment deadline on a proposal to regulate Treasuries venues after it faced a storm of complaints from the public and financial industry.
People Moves: HKEx, FCA, Clear Street, and more
A look at some of the key "people moves" from this week, including Prerak Sanghvi (pictured), who joins Clear Street as vice president of engineering.
CFTC best placed to regulate digital assets, commissioner says
Newly confirmed head says agency has the authority and precedent to police crypto markets.
Plaintiffs in Cusips lawsuit argue the codes aren’t copyrightable
Firms file “aggressive” motion to have legal case resolved early, saying Cusip’s operators and owners have no basis to charge for the codes.
Gensler calls for enhanced US bond market transparency
SEC chief advocates shorter Trace reporting delay, public dissemination of Treasuries trades
Market data plans revive proposals to move odd lots onto Sips
Consultation on democratizing odd lots data closes next week, but more solutions to order protection concerns may be needed.
SEC cyber rule could trigger more attacks, experts warn
Mandatory disclosure of cyber risks and attacks could help hackers
Surveillance firms experiment with computer vision for video conferencing oversight
As more firms rely on platforms like Zoom and Teams for client and workforce communications, surveillance technology providers are exploring new ways to make sure traders are compliant while working remotely.
Mifid data vendors face 4,000% supervisory fee hike
‘Cost of Esma’ crisis for largest European regulated data reporting and publishing firms.
One versus many: Firms question viability of UK CT model
Market participants and industry groups are challenging the UK government’s approach to a competitive framework for the consolidated tape.
House bill looks to back up SEC market data efforts
Congress is stepping into the US equity market data debate as the DC Circuit Court of Appeals considers dismissing the SEC’s initiatives.
Biden approach could leave US behind on crypto regulation
Long timeline of executive order means international community may move faster than US lawmakers
Brokers eye regulatory info as growth dataset to ease banks’ compliance burden
For years, inter-dealer brokers have provided price data on the markets in which they broker trades. Now, they spy a new growth opportunity—providing tailored datasets of clients’ trading activity to help them comply with a growing and increasingly…
Goldman Sachs, DTCC execs dissect implications of SEC’s ‘ambitious’ settlement timeline
Conflicting time zones, potential re-papering, and weak standards are just some of the hurdles that must be overcome to move trade settlement times to T+1 or even to T+0—all potentially before Q1 2024.
As cybersecurity policy takes shape, are data vendors next in SEC's sights?
New rules target a range of players in the capital markets, from broker-dealers to trading venues, and the agency could be coming for data and analytics vendors and index providers.
EU trading venue definition could crush innovation, say bank execs
Firms worry that regulating a broader net of firms could unravel progress in fixed income electronification and raise costs for market participants
Dutch sandbox aims to broker EU consolidated tape
As data quality issues are a main impediment to a viable consolidated tape in Europe, Dutch regulator AFM has helped develop pilots in its Innovation Hub sandbox.
Second class-action lawsuit targets Cusip’s ‘monopoly’ on identifiers
Days after a first class-action suit took aim at Cusip, S&P Global, the American Bankers Association, and FactSet, another plaintiff has filed a complaint alleging that the quartet of companies violated the Sherman Antitrust Act, as well as certain…
Waters Wrap: Questions raised by Cusip lawsuit
An investment bank and an asset manager have filed a class-action lawsuit against Cusip Global Services, S&P Global, the ABA and FactSet. Anthony explores some of the questions that such a suit raises.
As sanctions increase, banks struggle with growing compliance burden
Firms must get data management and compliance culture right if they really want to keep their books clean of crooks and sanctions-dodgers, and keep their reputations and bottom lines clean of regulatory fines.
Believe nothing, trust no one: ‘Morgan Freeman’ sends a message to fintech professionals
There’s evidence that deepfakes are being used to commit fraud in the financial markets. And as scam artists become more tech savvy, financial firms will need to quickly employ new tools to protect their assets.
Class-action lawsuit takes aim at Cusip, S&P, FactSet & ABA
A complaint filed March 4 seeks judgement on whether Cusip Global Services, S&P Global, the American Bankers Association, and (now) FactSet have violated copyright laws as well as the Sherman Antitrust Act by charging hefty licensing fees to use the…
Asset managers seek greater transparency into ESG index providers’ ratings
While there is no consensus on whether ESG ratings providers should be regulated, asset managers largely agree that more transparency into their vendors’ methodologies is needed.