Regulation
Financial regulation, compliance, and policy updates
111 articles
How Are the SEC and CFTC Coping with the 2025 Government Shutdown?
As of October 14, 2025, the U.S. federal government shutdown, which began on October 1, has entered its second week, affecting millions of workers and disrupting operations across numerous agencies. Triggered by a failure to pass funding legislation amid partisan disputes, this lapse in appropriatio
FINMA Extends Transitional Period for Collateral Exchange in OTC Derivatives to 2029
In a move aimed at aligning with international standards and mitigating competitive disadvantages for Swiss market participants, the Swiss Financial Market Supervisory Authority (FINMA) has announced an extension of the transitional period for the exchange of collateral in certain over-the-counter (
Monetary Authority of Singapore (MAS) Intensifies Regulatory Scrutiny: A Roundup of Enforcement Actions in Q3 2025
In a continued effort to uphold the integrity of Singapore’s financial sector, the Monetary Authority of Singapore (MAS) has released details of its key regulatory and enforcement actions for the third quarter of 2025 (July to September). These measures underscore MAS’s commitment to deterring misco
What to Expect from ESMA’s 2026 Annual Work Programme
ESMA’s 2026 Annual Work Programme: Strengthening EU Financial Markets Through Supervision, Sustainability, and Innovation On October 3, 2025, the European Securities and Markets Authority (ESMA) released its 2026 Annual Work Programme, outlining a comprehensive roadmap for advancing financial market
CFTC Eases Reporting Burdens for Electricity Binary Options: A Boost for Energy Market Innovation
In a move signaling regulatory flexibility for emerging energy derivatives, the U.S. Commodity Futures Trading Commission’s (CFTC) Divisions of Market Oversight and Clearing and Risk issued a no-action letter on September 30, 2025, granting relief from certain swap data reporting and recordkeeping r
Switzerland and UK Seal Financial Pact: New MoU Unlocks Cross-Border Insurance and Investment – What It Means for Markets
In a significant step toward deepening ties in the post-Brexit era, Switzerland and the United Kingdom have formalized their supervisory collaboration through a new Memorandum of Understanding (MoU). Signed on September 22, 2025, by the Swiss Financial Market Supervisory Authority (FINMA), the UK’s
CFTC Cracks Down on Tennessee Couple’s $6M Crypto Pool Fraud: Victims to Receive $5.5M Restitution in Landmark Ruling
In a resounding victory for defrauded investors, the U.S. Commodity Futures Trading Commission (CFTC) has secured a consent order requiring Tennessee realtors Michael and Amanda Griffis to pay over $6.8 million in restitution and penalties for orchestrating a brazen commodity pool scam. Announced on
CFTC’s Stablecoin Revolution: Could Tokenized Collateral Unlock Trillions in Derivatives – And Reshape Crypto Forever?
In a move that’s sending ripples through both traditional finance and the crypto world, the U.S. Commodity Futures Trading Commission (CFTC) has just unveiled a groundbreaking initiative to integrate tokenized collateral—including stablecoins—into the massive derivatives markets. Announced on Septem
SEC Approves Generic Listing Standards for Commodity-Based Trust Shares, Including Digital Assets
The U.S. Securities and Exchange Commission (SEC) has approved new generic listing standards for exchange-traded products (ETPs) backed by spot commodities, including digital assets. The decision marks a major step toward broadening investor access to commodity-based and crypto-related financial pro
CFTC Secures $2.8 Million Judgment Against Florida Commodity Firm and Owner for Fraud
The U.S. Commodity Futures Trading Commission (CFTC) has announced that the U.S. District Court for the Southern District of Florida ordered Systematic Alpha Management LLC and its owner Peter Kambolin to pay more than $2.8 million for defrauding participants in commodity pools. The case highlights
CFTC Fines Shinhan Securities $212,500 for Wash Sales on NYMEX
The U.S. Commodity Futures Trading Commission (CFTC) announced today that it has issued an order filing and settling charges against Shinhan Securities Co. Ltd., a global financial services company, for engaging in wash sales and non-competitive transactions on the New York Mercantile Exchange (NYME
CFTC Withdraws Parts 37 and 38 Proposed Rule: Balancing Oversight and Market Innovation
The Commodity Futures Trading Commission (CFTC) announced through Release No. 9123-25 that it is withdrawing its proposed rulemaking under Parts 37 and 38, which would have reshaped governance and conflict-of-interest standards for Designated Contract Markets (DCMs) and Swap Execution Facilities (SE
CFTC Pulls Back Carbon Derivatives Guidance: A Signal for Market Maturity
The Commodity Futures Trading Commission (CFTC) has formally withdrawn its Guidance Regarding the Listing of Voluntary Carbon Credit (VCC) Derivative Contracts, marking a significant shift in how the regulator intends to oversee one of the fastest-growing corners of environmental finance. The CFTC e
Finfluencers Alerted: UK FCA Goes After Illegal Promotions
London, 11 September 2025 – The UK’s Financial Conduct Authority (FCA) has brought three social media personalities – commonly referred to as “finfluencers” – before court in the first criminal proceedings to arise from a global crackdown on illegal financial promotions. Charles Hunter (Exeter), Kay
Japan’s FSA Clarifies Rules on Market Value Adjustments in Insurance Contracts
Tokyo, September 2025 – Japan’s Financial Services Agency (FSA) has published its official response to industry feedback on proposed revisions to the treatment of Market Value Adjustments (MVA) in insurance contracts. The consultation, originally tied to the Ministry of Finance Notification No. 48 (
Spoofing Sanction Highlights Market Structure Challenges in U.S. Futures
Washington, D.C., Sept. 9, 2025 – The Commodity Futures Trading Commission (CFTC) has sanctioned Brett Falloon and Flatiron Futures Traders LLC for spoofing in the E-mini S&P 500 and E-mini Nasdaq 100 futures markets at the Chicago Mercantile Exchange (CME). Falloon and Flatiron will pay a $200,
BIS Innovation Summit 2025: Central Banks Gear Up for a Tech-Driven Future
As the global financial landscape hurtles toward an era dominated by artificial intelligence, quantum computing, and tokenized assets, the Bank for International Settlements (BIS) is convening its fifth annual Innovation Summit from September 9-11, 2025. Held at the BIS Tower in Basel with virtual a
CFTC Issues No-Action Relief on Event Contracts: A Narrow but Notable Signal
On September 3, 2025, the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight and Division of Clearing and Risk issued a no-action letter regarding swap data reporting and recordkeeping requirements for certain event contracts. The relief was granted in response to a request f
SEC Charges Pennsylvania Resident in $770 Million Ponzi Scheme Tied to ATM Investments
The Securities and Exchange Commission (SEC) has charged Pennsylvania resident Daryl F. Heller and his companies, Prestige Investment Group, LLC and Paramount Management Group, LLC, for orchestrating a massive Ponzi scheme that raised more than $770 million from thousands of investors and resulted i
Joint SEC–CFTC Statement Paves Way for Spot Crypto Asset Trading
In a rare show of unified regulatory direction, staff from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have issued a Joint Statement clarifying that SEC- and CFTC-registered exchanges are not prohibited from facilitating the trading of certain spo
IEX’s DEEP+ Data Fee A New Front in the Market Data Debate
# IEX’s DEEP+ Data Fee: A New Front in the Market Data Debate — ## Introduction: A New Fee in Market Data The Investors Exchange (IEX), long seen as a disruptor in the U.S. equities markets, has taken a new step in its evolution. On August 28, 2025, the Securities and Exchange Commission (SEC) publi
CFTC Issues FBOT Advisory to Clarify Access Rules for Non-U.S. Exchanges
The Commodity Futures Trading Commission (CFTC) has issued an advisory clarifying the registration framework for foreign boards of trade (FBOTs), providing non-U.S. exchanges with a clearer path to offer direct market access to U.S. participants. The guidance, published by the Division of Market Ove
FICC Proposes New Basis Risk Haircut to Strengthen Mortgage-Backed Securities Margining
# SEC Filing: FICC Proposes New Basis Risk Haircut to Strengthen Mortgage-Backed Securities Margining ## Introduction On **August 26, 2025**, the U.S. Securities and Exchange Commission (SEC) published a filing from the **Fixed Income Clearing Corporation (FICC)**, a subsidiary of the Depository Tru
FCA Fines Woodford and WIM Nearly ÂŁ46m Over Fund Management Failures
The UK’s financial regulator, the Financial Conduct Authority (FCA), has issued fines approaching £46 million against fund manager Neil Woodford and Woodford Investment Management (WIM) for serious failings in their handling of the Woodford Equity Income Fund (WEIF). The regulator has also decided t