On April 6, the UK Financial Conduct Authority (FCA) announced that legal entity identifiers (LEIs) of non-EEA third country issuers will not need to be reported under the UK version of the European Union’s Regulation on reporting and transparency of
Katten Muchin Rosenman
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Latest from Katten Muchin Rosenman - Page 8
2021 Advisory Committee Overview and Engagement Notice
On March 26, the Financial Industry Regulatory Authority (FINRA) published a notice encouraging employees of member firms and other interested persons to apply for upcoming vacancies on FINRA’s advisory and ad hoc committees. The Notice provides a general description of…
FINRA Alerts Firms to Recent Increase in ACH “Instant Funds” Abuse
On March 25, the Financial Industry Regulatory Authority (FINRA) issued a notice warning member firms that there appears to be an increase in new customers opening online brokerage accounts and engaging in Automated Clearing House (ACH) “instant funds” abuse to…
FINRA Announces Updates to the Interpretation on FINRA’s Margin Rule for Day Trading
On March 24, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-13 (Notice) announcing updates to its interpretations regarding FINRA’s Margin Rule 4210(f)(8)(B)(ii) (Rule). The Rule provides (1) the numerical determination of when a customer is classified as a…
CFTC Staff Issues Guidance Regarding Risk Assessment of Customer Accounts for Futures Commission Merchants
On March 29, the Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission issued guidance regarding the implementation of revised Regulation 39.13(g)(8)(ii). Regulation 39.13(g)(8)(ii) provides that a derivatives clearing organization (DCO) must require its clearing members to…
NFA Issues Notice Regarding Effective Date of NFA’s Swap Dealer Capital Requirements
On March 31, the National Futures Association (NFA) issued Notice I-21-14 advising member firms that are registered with the Commodity Futures Trading Commission as swap dealers (SDs), that NFA rules adopting minimum capital and financial reporting requirements will become effective…
AML: HM Treasury Updates Advisory Notice on Money Laundering and Terrorist Financing Controls in Higher-Risk Jurisdictions
On March 24, HM Treasury revised its advisory notice on money laundering and terrorist financing controls in overseas jurisdictions (AML/CTF). This replaces all previous notices issued by HM Treasury on this subject. The updated notice follows two statements published by…
AML: UK Government Publishes Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021
On March 25, the UK Government published the Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021 (SI 2021/392) on its website together with an explanatory memorandum (the Regulations).…
UK Treasury Announces Technical Discussions on MoU on UK-EU Regulatory Cooperation in Financial Services
On March 26, HM Treasury published a press release announcing it had concluded technical discussions on the text of the Memorandum of Understanding (MoU) for UK-EU regulatory cooperation in financial services (the Press Release).…
ESAs Opinion on Jurisdictional Scope of the Securitisation Regulation
On March 26, the European Supervisory Authorities (ESAs) published an opinion to the European Commission on the jurisdictional scope of the Securitisation Regulation ((EU) 2017/2402).…