15th June 2016
In first speech since appointment, says that while progress has been made, significant vulnerabilities remain due to the legacy of the crisis Outlines supervisory priorities for the role, to include resolving Non-Performing Loans, scrutiny of strategic and business model risk, and matters related to governance, culture and diversity. Commits to… Read More
15th June 2016
The Commodity Futures Trading Commission is overreaching in its quest for market safety and soundness. The agency wants the power to obtain access to the source codes of trading companies without a subpoena. Record retention is a worthy goal, but it is… Read More
14th June 2016
Former top regulator at the Securities and Exchange Commission to succeed Richard Ketchum, who is retiring Read More
8th June 2016
The Monetary Authority of Singapore (MAS) announced today that it will make it easier for start-ups and Small and Medium Enterprises (SMEs) to access securities-based crowd-funding (SCF) in two ways. Read More
8th June 2016
Macau’s money laundering controls have been strengthened by authorities in Beijing, in a move that will compound the gambling hub’s misery as it reflects this week on two years of consecutive month-on-month economic decline. Read More
6th June 2016
The tighter regulations in Macau contrast with the lax money laundering laws of Manila where a lack of robust controls made it an easy target for a brazen cyber-heist from Bangladesh's central bank. Macau's new measures, which include keeping daily records and hiring compliance officers, are expected to compound pressure on the high-roller VIP sector and increase operating costs for casinos, said analysts. Read More
6th June 2016
The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined E*Trade Securities LLC $900,000 for failing to conduct an adequate review of the quality of execution of its customers’ orders and for supervisory deficiencies concerning the protection of customer order information. E*Trade provides online securities investing… Read More
6th June 2016
The U.S. Commodity Futures Trading Commission (CFTC) announced today that CFTC Chairman Timothy Massad signed a Memorandum of Understanding (MOU) with the European Securities and Markets Authority (ESMA) regarding cooperation with respect to derivatives clearing organizations (DCOs) established in the United States that have applied or that may apply to ESMA for recognition as central counterparties. Read More
6th June 2016
On 11 May 2016 the Royal Court of Guernsey handed down its final judgment in the appeal brought by Bordeaux Services (Guernsey) Limited & Ors v Guernsey Financial Services Commission. The Commission has considered this ruling carefully and believes that some key messages are contained within the judgment that are important both for Financial Services Business in the Bailiwick, and also for the Commission when bringing enforcement sanctions against licensees and individuals. Read More
In this article, Greg Brandman, partner and Head of Contentious Regulatory work in Eversheds’ Financial Services, Investigations and Disputes team, and Sam Thampapillai, Eversheds associate, consider the key regulatory issues arising from the development of blockchain technology for market participants. Read More