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FINRA Publishes 2021 Industry Spotlight
On May 25, the Financial Industry Regulatory Authority (FINRA) published the 2021 FINRA Industry Spotlight (Industry Spotlight), which is FINRA’s annual statistical report covering the brokerage firms, registered representatives and market activity that FINRA regulates. The 2021 edition includes new statistics on US Treasury volume and corporate financing filings. The Industry Spotlight also includes 2020…
FINRA Publishes 2021 Budget
The Financial Industry Regulatory Authority (FINRA) has published its 2021 Annual Budget Summary (Budget Summary), which outlines how FINRA plans to deploy resources in 2021 to meet its various regulatory responsibilities.…
CFTC Announces Agricultural Advisory Committee Meeting
On May 25, the Commodity Futures Trading Commission announced that on June 9, from 10:00 a.m. to 12:00 p.m., the Agricultural Advisory Committee (AAC) would hold a public meeting via teleconference. At this meeting, the AAC will receive a report from the subcommittee that has been evaluating CFTC policy with respect to the implementation of…
CFTC Staff Publishes Updated Responses to FAQs Regarding Commission Regulation 4.27 and Form CPO-PQR
On May 26, Commodity Futures Trading Commission’s Market Participants Division (MPD) published updated responses to frequently asked questions regarding CFTC Regulation 4.27 and Form CPO-PQR (FAQs). These FAQs update the 2015 FAQs that addressed issues on Form CPO-PQR from filing mechanics and deadlines to more technical questions.…
Effective Date for NFA Member Swap Dealer and Major Swap Participant Dues Increases
On May 24, the National Futures Association (NFA) issued Notice to Members 1-21-16, announcing the effective date for NFA Member swap dealer and major swap participant dues increases.
NFA Bylaw 1301 imposes annual dues on NFA Member swap dealers (SD) and major swap participants (MSP). The current annual dues amounts have remained unchanged, except for…
Notice of Filing of a Proposed Rule Change to Adopt a Supplemental Liquidity Schedule
The Securities and Exchange Commission is seeking comments on a Financial Industry Regulatory Authority (FINRA) proposal to adopt a Supplemental Liquidity Schedule (SLS), and instructions thereto, pursuant to FINRA Rule 4524. FINRA Rule 4524 provides in part that each member, as FINRA shall designate, shall file as a supplement to FOCUS Reports such additional financial…
ESMA Recommends Permanently Lowering the Reporting Threshold for Net Short Positions to 0.1 Percent
On May 20, the European Securities and Markets Authority (ESMA) proposed to the European Commission (Commission) a permanent reduction to the threshold to notify net short positions on shares to EU national competent authorities (NCAs) from 0.2 percent to 0.1 percent.…
European Commissioner Speech on AML and CTF Action Plan Reforms
On May 18, a speech by the European Commissioner for Financial Services, Financial Stability and Capital Markets Union was published outlining elements of the anti-money laundering (AML) and counter-terrorist financing (CTF) action plan that the European Commission (Commission) intends to present further and reform.…
FINRA Shares Practices Firms Use to Protect Customers from Online Account Takeover Attempts
By Susan Light & Shelby Kost
On April 11, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-18 (Notice) in response to increasing reports from customers experiencing customer account takeover (ATO) incidents.…