Topic
Proprietary Trading
68 published works
Global Regulation Tomorrow
AFM MiCAR newsletter – Update on proprietary trading under MiCAR and information session
By Floortje Nagelkerke (NL), Julia van der Grint
On 30 September 2025, the Dutch Authority for Financial Markets (Autoriteit Financiële Markten, the AFM) issued a newsletter on the Markets in Crypto-Assets Regulation (MiCAR). In this newsletter, the AFM,…
Free Writings + Perspectives
SEC Significantly Narrows Exemption from FINRA Membership for Proprietary Trading Firms
By Anna T. Pinedo, Stephen Vogt, Steffen Hemmerich
On August 23, 2023, the U.S. Securities and Exchange Commission (“SEC”) adopted amendments (the “Amendments”) to Rule 15b9-1 under the Securities Exchange Act of 1934 that generally eliminate the exemption…
Global Financial Regulatory Blog
SEC Proposes to Expand Interpretation of “Dealer” and “Government Securities Dealer” Definitions
By Laura Ferrell, Marlon Q. Paz, Nabil Sabki, Stephen P. Wink, Naim Culhaci, and Deric Behar On March 28, 2022, the US Securities and Exchange Commission (SEC) proposed rules (Proposing…
Global Regulation Tomorrow
RFPT Review Final Report
By Simon Lovegrove (UK), Jochen Vester (UK)
On 16 March 2022, HM Treasury laid in Parliament the Final Report of the Ring-fencing and Proprietary Trading Independent Review. The Final Report sets out the final conclusions and recommendations…
Global Regulation Tomorrow
Interim statement of the independent review panel on ring-fencing and proprietary trading
By Jochen Vester (UK), Simon Lovegrove (UK)
The Financial Services (Banking Reform) Act 2013 required HM Treasury to appoint an independent panel to review the operation of the legislation relating to ring-fencing and banks’ proprietary trading activities.…
Global Regulation Tomorrow
Letter – Ring-fencing and Proprietary Trading Independent Review: 1 June 2021
On 1 June 2021, the Financial Markets Law Committee (FMLC) sent a letter to Keith Skeoch, chair of the independent panel that HM Treasury has appointed to review the operation…
Global Regulation Tomorrow
Members of the ring-fencing and proprietary trading independent review panel announced and Terms of Reference for the review published
On 2 February 2021, HM Treasury announced that John Flint, Patrick Honihan, Betsy Nelson, Preben Prebensen and Linda Yueh have been appointed as members of the independent review panel on…
Source Code
Proprietary Trading – Follow the Golden Rule
When it comes to trading in your firm’s own investment accounts (proprietary trading), it’s never cherry-picking season. Instead, when allocating investment opportunities, you should follow the golden rule – treat…
Investment Management Regulatory Update
Proprietary Trading – Follow the Golden Rule
When it comes to trading in your firm’s own investment accounts (proprietary trading), it’s never cherry-picking season. Instead, when allocating investment opportunities, you should follow the golden rule – treat…
Global Regulation Tomorrow
PRA report on proprietary trading
On 21 September 2020, the PRA published a report which reviews the extent of proprietary trading engaged in by PRA-authorised deposit takers and investment firms incorporated in the UK. The…