On March 10, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-09 announcing FINRA’s adoption of new rules to address brokers with a significant history of misconduct and the broker-dealers that employ them, as discussed in the March 12
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Alex Oh Resigns From SEC; Melissa Hodgman Named Acting Director of Enforcement
By Susan Light & Jack A. West
On April 28, the Securities and Exchange Commission announced that Alex Oh resigned her position as Director of the Division of Enforcement. Melissa Hodgman, who had previously served as the Acting Director of the Division of Enforcement prior to Ms.…
CFTC Renews No-Action Relief for Entities Submitting Swaps for Clearing With DCOs Acting Under Exemptive Orders or No-Action Relief
On April 28, the Division of Data of the Commodity Futures Trading Commission issued a renewal of the temporary no-action relief available to entities (Relief Counterparties) that submit certain swaps for clearing by derivatives clearing organizations that operate pursuant to…
UK Treasury Committee Publishes Report on Net Zero and the Future of Green Finance
On April 22, the House of Commons Treasury Committee (Committee) published a report on net zero and the future of green finance in the UK (the Report) along with a press release.
The key recommendations proposed by the Committee to…
FCA Webpage on Climate Change and Sustainable Finance
On April 23, the Financial Conduct Authority (FCA) published a new webpage on its strategic approach to climate change and sustainable finance.
The FCA explains it will continue to broaden and deepen its sustainable finance strategy, which is based on…
FCA Consults on Changes to Conduct and Organizational Rules Under UK MiFID
On April 28, the Financial Conduct Authority (FCA) launched a consultation paper (CP21/9), alongside HM Treasury, on changes to the conduct and organizational rules in the UK Markets in Financial Instruments Directive (MiFID II): research and best execution reporting.
The consultation…
Gary Gensler Names Initial Senior Staff Members
On April 19, the Securities and Exchange Commission announced the appointments of SEC Chair Gary Gensler’s senior staff, who will be responsible for advising Gensler on matters before the SEC. Prashant Yerramalli, appointed as SEC’s Chief of Staff, will continue…
Alex Oh Named SEC Director of Enforcement
On April 22, the Securities and Exchange Commission announced the appointment of Alex Oh as Director of the Division of Enforcement. Earlier in her career, Oh was an Assistant US Attorney in the Criminal Division of the US Attorney’s Office…
FINRA Reminds Members About Requirements When Using Predispute Arbitration Agreements for Customer Accounts
On April 21, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-16 (Notice) to remind member firms about requirements when using predispute arbitration agreements for customer accounts.…
CFTC Issues Conditional Relief From Reporting Fully Collateralized Binary Option Data to Swap Data Repositories
On April 22, the Commodity Futures Trading Commission’s Division of Data, Division of Market Oversight and Division of Clearing and Risk (collectively, the Divisions) issued CFTC Letter No. 21-11, which (1) provides no-action relief to KalshiEX LLC (Kalshi), a designated…