On April 29, the Financial Conduct Authority (FCA) published a discussion paper (DP21/1) on strengthening its financial promotion rules for high-risk investments and firms approving financial promotions.
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LEI ROC Consults on Changes to Technical Guidance on Harmonization of Critical OTC Derivatives Data Elements
On May 5, the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) published a consultative document on changes to the technical guidance on the harmonization of critical over-the-counter (OTC) derivatives data elements (CDE Technical Guidance).…
HM Treasury Intends to Remove UK MiFIR Open Access Regime for ETDs
On May 5, HM Treasury announced its intentions to remove the UK Markets in Financial Instruments Regulation (UK MiFIR) from the open access regime for exchange traded derivatives (ETDs).…
SEC Small Business Capital Formation Advisory Committee to Discuss Opportunities for Underrepresented Founders and Investors
By Susan Light & Jack A. West
On April 26, the Securities and Exchange Commission announced that its Small Business Capital Formation Advisory Committee (Committee) will meet on Friday, April 30, to discuss solutions to increase access to capital for underrepresented founders and investors from smaller, regional…
Upcoming Effective Date of FINRA Rules Regarding Brokers With a Significant History of Misconduct
By Susan Light & Jack A. West
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…
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…