6th June 2017
The Financial Industry Regulatory Authority (FINRA) barred a former Morgan Stanley representative for concealing the customers behind around $190 million in Venezuelan bond trades. John Batista Bocchino hid the customers’ trades from Morgan Stanley by creating hundreds of documents containing false information, including new account forms and trade tickets, FINRA… Read More
25th May 2017
The FCA welcomes today’s publication of the FX Global Code (link is external). As we set out in our Mission, standards can be a useful way for the industry to police itself in support of our regulatory work and can help firms to communicate expectations of individuals when linked to… Read More
KYC360's Tom Devlin interviews Simon Gaudion, Director of the Enforcement Division at the Guernsey Financial Services Commission. Read More
16th May 2017
US regulators are clamping down on trade-based money laundering, but they should look further than banks to combat the practice. Financial crime was at the forefront of the agenda at the 2017 annual conference of the Bankers Association for Finance and Trade (BAFT): on top of a number of banks’… Read More
10th May 2017
The Securities and Exchange Commission today charged a former employee with securities fraud in connection with his trading of options and other securities. The SEC’s complaint alleges that David R. Humphrey, who worked at the SEC from 1998 to 2014, concealed his personal trading from the SEC’s ethics office and… Read More
9th May 2017
The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) today issued a General Administrative Act pursuant to section 4b of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). The General Administrative Act restricts the marketing, distribution and sale of financial contracts for difference (CFDs). Contracts with an additional payments… Read More
5th May 2017
Jay Clayton was sworn into office this afternoon by U.S. Supreme Court Justice Anthony M. Kennedy as the 32nd Chairman of the Securities and Exchange Commission. Mr. Clayton was nominated to chair the U.S. Securities and Exchange Commission on January 20, 2017, by President Donald Trump and confirmed by the… Read More
4th May 2017
The Managed Funds Association (MFA) and the Alternative Investment Management Association (AIMA) are urging the Commodity Futures Trading Commission (CFTC) to scrap the proposed automated trading regulation. In a letter to the CFTC, the associations said the commission should abandon the current version of the rule and, instead, implement… Read More
2nd May 2017
The 2008 financial debacle spawned federal legislation to protect the viability of the financial system. Among the causes of the crisis was dishonest behavior by some actors in the financial system and the enormous risks which intermediaries in the system took. Then came the Dodd-Frank Wall Street Reform and Consumer… Read More
17th April 2017
The EU is hurtling towards the implementation of MiFID II, a huge body of rule changes that no one will be ready for. Some regulatory flexibility will have to be shown or the process may end up resembling a car crash. Read More