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News & Insights

WSJ – Fed to Relocate 250 On-Site Bank Examiners

August 15th, 2016

WSJ – Fed to Relocate 250 On-Site Bank Examiners Recurring Theme:  Market Transparency Summary Analysis:  Late last week, the Wall Street Journal exclusively reported an anticipated change in the Federal Reserve Bank of New York’s regulatory structure. Apparently the regional Federal Reserve Bank plans to break from its practice of […]

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MAR – the new market soundings regime

July 5th, 2016

In our first update on MAR we highlighted the broadening of the scope of the Market Abuse rules that come into force on 3 July 2016.  We focused on how the new regime significantly extends the prohibition on abusive activity, capturing new instruments and behaviours. Our second update focused on […]

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Hong Kong Sees Spike in AML Violations

July 1st, 2016

Hong Kong Sees Spike in AML Violations Recurring Theme:  Market Transparency Summary Analysis:  Last week, Reuters reported an increase in violations of anti-money laundering (AML) rules in Hong Kong. The country’s financial regulator, the Securities and Futures Commission (SFC), reported a year-over-year increase of more than 90 percent, from 117 […]

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NYDFS to Release Tough New AML Standards Today

July 1st, 2016

NYDFS to Release Tough New AML Standards Today Recurring Theme:  Market Transparency & Individual Accountability Summary Analysis:  After an exclusive preview, the Wall Street Journal reported that the New York Department of Financial Services (NYDFS) plans to release tough new anti-money laundering (AML) rules. The New York financial regulator is […]

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With UK Preoccupied, CFTC Steps Up to Monitor Commodities

June 29th, 2016

United States (US) regulators are concerned that the frenzy created by Brexit will absorb increasing attention from United Kingdom (UK) and European Union (EU) regulators, so much so that market oversight might suffer. On June 27, 2016, the Commodity Futures Trading Commission (CFTC) convened a meeting of the Market Risk […]

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Brexit – what does the stunning news of UK’s departure mean for Financial Services in the UK?

June 27th, 2016

The first thing is to say that nothing will happen immediately as there will be a minimum of two years of negotiation before withdrawal occurs. In the meantime, the UK’s financial services regulation will continue to operate within the framework set by the European regulatory bodies. Single Market To attempt […]

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European Banks Lose Billions in Value after Brexit Results

June 24th, 2016

European Banks Lose Billions in Value after Brexit Results Summary Analysis:  European banks are already experiencing the impacts of the United Kingdom’s (UK) referendum to leave the European Union (EU).  Global markets have been down since the results of yesterday’s vote were released, with the British Pound falling to the […]

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MAR – the new suspicious activity reporting regime

June 24th, 2016

In our last update on MAR we highlighted the broadening of the scope of the Market Abuse rules that come into force on 3 July 2016. We focused on how the new regime significantly extends the prohibition on abusive activity, capturing new instruments and behaviours. In this update, we analyse […]

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FTC Joins Calls for Better Regulation of Marketplace Lending

June 13th, 2016

FTC Joins Calls for Better Regulation of Marketplace Lending Recurring Theme:  Market Transparency Summary Analysis:  Yesterday, Thursday, June 9, 2016, the Federal Trade Commission (FTC) hosted a half-day forum as part of its FinTech Series to consider the consumer protection implications of marketplace lending.  The FTC joins a growing number […]

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Obama Continues DOL Fiduciary Debate with Veto

June 13th, 2016

Obama Continues DOL Fiduciary Debate with Veto Subject:  Market Transparency & Individual Accountability Summary Analysis:  This week, President Obama vetoed a resolution passed by Congress to amend the Department of Labor’s (DOL) definition of “fiduciary” according to the Employee Retirement Income Security Act (ERISA).  The definition was amended by recent […]

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Industry Pushes Back Against New Basel Proposal

June 13th, 2016

Industry Pushes Back Against New Basel Proposal Theme:  Changing Regulatory Tide A coalition of industry stakeholders is ramping up opposition to a plan proposed by the Basel Committee on Banking Supervision to standardize financial institutions’ methods for assessing risk and exposure. The new model was proposed in March and would […]

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GOP Proposes Dodd-Frank Alternative

June 7th, 2016

GOP Proposes Dodd-Frank Alternative Subject:  Changing Regulatory Tide Summary Analysis:  Ahead of scheduled remarks today at the Economic Club of New York, Representative Jeb Hensarling (R – TX), Chairman of the House Financial Services Committee, announced plans to propose an alternative framework for financial regulation. The new Republican-backed framework would […]

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