The Securities and Exchange Commission (SEC) has finalized a set of cost-savings and related measures for the controversial Consolidated Audit Trail (CAT) through an amendment to the National Market System (NMS) Plan that governs the CAT system. The regulator is also implementing “exemptive relief from certain requirements of Rule 17a-1 under the Securities Exchange Act… Read More >>
Cboe Seeks Near 24×5 U.S. Equities Trading
Exchanges operator Cboe Global Markets has submitted a proposal to the Securities and Exchange Commission (SEC) to launch near 24×5 U.S. equities trading via its Cboe EDGX Equities Exchange (EDGX) and hopes the new time frame will be ready in December 2026, officials say. The launch is pending regulatory approval of its filing, and contingent… Read More >>
NYSE Settles SEC’s Operational Glitch Case for $9M
The New York Stock Exchange (NYSE) has paid a $9 million penalty to the Securities and Exchange Commission (SEC) to settle charges that NYSE officials allegedly failed to conduct opening auctions for more than 2,800 securities in January 2023, officials say. “The SEC’s settled order finds that on January 24, 2023, NYSE failed to run… Read More >>
What Did the SEC Halt During the Mini-Shutdown?
As the great songwriter Joni Mitchell once noted, “you don’t know what you’ve got til it’s gone.” Such was the case with the Securities and Exchange Commission (SEC) and many other federal agencies that experienced a halt in operations after a partial shutdown that began Jan. 31. The Trump administration and the U.S. Congress acted… Read More >>
DTCC Launches a Testing Phase for 24×5 Trading
Without any fanfare, global post-trade infrastructure provider the Depository Trust & Clearing Corp. (DTCC) has begun an industry-wide testing phase for 24×5 trading in U.S. equity markets. At the same time, a new DTCC and EY report diving into the operational impacts of 24×5 trading finds that this major industry move is likely to lead… Read More >>
Should the CFTC Regulate Digital Commodity Trading?
Should the Commodity Futures Trading Commission (CFTC) have the authority to regulate digital commodities? That has been a major question as cryptocurrencies, tokenization, and other digital assets have grown in popularity, and as the Trump team has appointed regulatory heads who are taking a pro-innovation stance on digital assets. Key members of the U.S. Senate… Read More >>
FINRA Reminds Firms of ACATS’s Improvements
Self-regulatory organization FINRA recently reminded securities firms that the National Securities Clearing Corp. (NSCC) has modified the transfer process for its Automated Customer Account Transfer Service (ACATS), established in 1985 to facilitate “the smooth and electronic transfer of assets, like stocks, bonds, and cash, from one brokerage firm or bank to another,” according to the… Read More >>
SEC Cuts Costs for SROs Supporting the CAT System
The Securities and Exchange Commission (SEC) granted “exemptive relief “to the self-regulatory organizations (SROs) that are essentially underwriting the operating costs of the consolidated audit trail (CAT). The ambitious big data CAT system got its start in 2012 in the wake of the Flash Crash of 2010. That event spurred demand for a U.S. securities… Read More >>
SEC & CFTC Scale Back to Skeleton Staffs
With the shutdown of the U.S. federal government, the financial markets regulators — the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) — have issued guidelines to help staff members and market participants maintain some regulatory requirements. During the shutdown, the SEC “will have only an extremely limited number of staff… Read More >>
Can Blockchain Analytics Mitigate Risk & Underpin Compliance?
The New York State Department of Financial Services (NYDFS) is showing new concern about “firms dipping their toes into crypto activities” and, through a new guidance, is urging banks (and other types of firms) to embrace blockchain analytics tools as a way to mitigate risk and achieve regulatory compliance. A guidance “is not intended to… Read More >>
