Hedge funds, private equity firms, and others that are in scope for Form PF reporting will have more time to finalize compliance plans and could see significant savings in operational costs as a result of the deadline extensions being implemented and the rule changes under consideration by the Securities and Exchange Commission (SEC) and the… Read More >>
Should the SEC Run the CAT System?
A major industry player — the Securities Industry and Financial Markets Association (SIFMA) — is pushing for the Consolidated Audit Trail (CAT) to be under the control of the Securities and Exchange Commission (SEC). In an odd twist, the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization (SRO) for broker-dealers, is in general agreement with… Read More >>
SEC Sets Joint Data Standards in Motion
The U.S. Securities and Exchange Commission (SEC) recently unveiled joint regulatory standards intended to expand interoperability of financial regulatory data among agencies via common identifiers for entities, geographic locations, dates, and certain products and currencies. In addition to the SEC, other agencies have established or are expected to act on establishing the joint standards: The… Read More >>
The CAT System Faces Scrutiny Again
The controversial Consolidated Audit Trail (CAT) will remain under scrutiny by the Securities and Exchange Commission even though the SEC recently finalized a set of cost-savings and related measures intended as ways to control the big data surveillance system. The regulator also implemented exemptive relief from certain requirements under the Securities Exchange Act of 1934…. Read More >>
SEC Chairman Launches ‘Material Matters’ Podcast
Paul Atkins, chairman of the Securities and Exchange Commission (SEC), has joined the podcast revolution with the launch of “Material Matters,” which “provides stakeholders and the investing public with exclusive interviews and insights around the agency’s policy and rulemaking agenda.” According to the SEC, Atkins will be “joined by guests across the agency, government, and… Read More >>
SEC & CFTC Vow to End Regulatory Turf Wars
A while back, I wrote about Timothy G. Massad, a former CFTC chairman, who asked via an op-ed piece for the Brookings Institution if it was time to merge the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It looks as if the two regulators have answered that question by promising… Read More >>
Key Subcommittee to Mull Big Changes for FINRA & MSRB
The role of U.S. self-regulatory organizations (SROs) — particularly the Financial Industry Regulatory Authority (FINRA) — is being re-examined via a Congressional hearing set up by the Subcommittee on Capital Markets, an extension of the House Financial Services Committee. The subcommittee hearing, set for Thursday, March 5, has a title that seems to say it… Read More >>
SEC Moves to Streamline Form N-PORT Reporting
The U.S. Securities and Exchange Commission (SEC) is proposing amendments to Form N-PORT’s reporting regime that are in line with SEC Chairman Paul S. Atkins’s mantra to reduce unnecessary reporting burdens and make disclosure requirements more efficient. Specifically, the SEC is proposing changes to Form N-PORT’s reporting requirements “that apply to certain registered investment companies,… Read More >>
Digital Asset Securities Need Regulated Markets: Q&A
(The U.S. Securities and Exchange Commission (SEC) via its Division of Trading and Markets recently released a wide-ranging guidance covering crypto asset activities, distributed ledger technology, broker-dealer financial responsibility, transfer agents, Form ATS and Form ATS-N disclosures, clearance and settlement, and exchange-traded products. FTF News reached out to Aaron Kaplan, founder and co-CEO at Prometheum… Read More >>
SEC’s Atkins Puts PCAOB & CAT Under the Microscope
Two legacy enforcement efforts of the U.S. Securities and Exchange Commission (SEC) — the Public Company Accounting Oversight Board (PCAOB) and the Consolidated Audit Trail (CAT) — have survived to fight another day, but they haven’t escaped the ongoing scrutiny of SEC Chairman Paul Atkins. In recent testimony before the U.S. Senate Committee on Banking,… Read More >>
