Americas News
The latest industry and regulatory news affecting North and South America.
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FIA PTG Responds to Brazilian Equity Market Structure Consultation
FIA Principal Traders Group (FIA PTG) joined the FIA European Principal Traders Association (FIA EPTA) in responding to the Comissão de Valores Mobiliários' (CVM - Brazil's securities and exchange commission), public call for contributions to the regulatory discussion involving equity market structure in Brazil.
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Double Trouble (or More): Effectively Navigating Parallel Investigations
Market participants subject to enforcement investigations by the CFTC are increasingly having to deal not only with a single investigation, but also parallel investigations by the Department of Justice, non-U.S. regulators (such as in the UK, Asia, and Middle East), and sometimes the financial exchanges and other SROs. Parallel investigations present unique challenges for the target or subject, including in dealing with timing, production of information, testimony, whistleblowers, presentations, and potential resolutions – whether in the areas of market manipulation and other disruptive trading, anti-corruption, sanctions, or others. This is made all the more complicated when dealing with cross-border investigations. The team from Morgan Lewis—including a former chief of the Fraud Section and a leader of the Market Integrity & Major Frauds Unit—will address these challenges as evidenced in recent enforcement actions, and provide useful insights into approaches for navigating parallel investigations, in the U.S. and cross-border, to minimize risk and maximize the prospects for success.
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FIA voices concerns on joint data standards proposed by financial regulators
FIA voiced concerns regarding a proposed rule on joint data standards issued by several financial regulators (including the CFTC, SEC, and Treasury).
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FIA PTG urges the SEC to ensure Nasdaq equalizes all co-location data center latencies
In a letter filed with the Securities and Exchange Commission (SEC), the FIA Principal Traders Group (FIA PTG) urged the SEC to take the following actions to ensure equalization of the entire Nasdaq collocation campus (NY11 and NY11-4) is completed expeditiously.
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FIA PTG Responds Again to FICC Proposals in Response To Treasury Clearing Mandate
In a letter filed with the Securities and Exchange Commission (SEC), the FIA Principal Traders Group (FIA PTG) commented again on the Fixed Income Clearing Corporation’s (“FICC”) proposals to revise its customer clearing access models, to modify its margin segregation rules and to adopt a trade submission requirement.
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FIA PTG Comments Again on Application of 24X National Exchange LLC for Registration as an Exchange
In a letter filed with the Securities and Exchange Commission (SEC), the FIA Principal Traders Group (FIA PTG) commented again on the application of 24X National Exchange LLC for registration as a national securities exchange.
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CFTC’s Evolving Disclosure Requirements
Traditionally, in contrast to the securities industry, transactions involving commodities and commodity derivatives have not been associated with extensive disclosures. After the Dodd Frank amendments, swap dealers are required to provide certain disclosures to their counterparties. Recent CFTC enforcement actions involving disclosure requirements test the outer boundaries and scope of required disclosures, in part channeling disclosure requirements imposed by the SEC. This seminar will discuss these requirements, emerging enforcement trends as well as developing industry responses, including in the United States, European Union and United Kingdom.
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FIA urges US Treasury Department to remain technology-neutral on AI
FIA's letter suggested Treasury focus on the applications of artificial intelligence within the context of a particular use case as opposed to the technology as a whole.
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FIA urges US Treasury Department to remain technology-neutral on AI
FIA's letter suggested Treasury focus on the applications of artificial intelligence within the context of a particular use case as opposed to the technology as a whole.
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FIA responds to FICC rules implementing the US Treasury clearing mandate
FIA responded to the Fixed Income Clearing Corporation’s (FICC) proposal to implement the SEC’s new clearing mandate for US Treasurys. FIA’s letter urges FICC to provide flexibility for market participants to clear US Treasurys at multiple clearinghouses, as they may arise in the future.
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