SEC fines Citigroup for compliance and surveillance failures
August 19, 2015 - The Securities and Exchange Commission today announced that Citigroup Global Markets has agreed to settle charges that it failed to enforce policies and procedures to prevent and detect securities transactions that could involve the misuse of material, nonpublic information.
Esma rethinks Emir framework
August 13, 2015 - The European Securities and Markets Authority (ESMA) has published four reports focused on how the European Markets Infrastructure Regulation (EMIR) framework has been functioning and providing input and recommendations to the European Commission's (EC) EMIR Review.
FIX Trading Community announces new Regulatory subgroups focused on MiFID
August 11, 2015 - FIX Trading Community, the non-profit, industry-driven standards body at the heart of global financial trading, today announced that it has formed six new subgroups focused on MiFID II regulation for the industry to collaborate on the most critical issues in this time of regulatory change.
DTCC urges legislative action to overcome G20 obstacles
July 30, 2015 - The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today urged legislative and industry action to address three key obstacles that are hindering achievement of the G20 transparency goals set forth by policymakers in the aftermath of the 2008 financial crisis.
Goldman Sachs fined $1.8m for reporting failures
July 27, 2015 - The Financial Industry Regulatory Authority (Finra) announced today that it has fined Goldman Sachs Execution & Clearing, L.P. $1.8 million for systemic Order Audit Trail System (Oats) reporting violations spanning a period of more than eight years, failure to accurately submit required trade reports to the appropriate Finra Trade Reporting Facility (TRF), and related supervisory failures.
Citi faces $700m bill over illegal credit card practices
July 21, 2015 - The Consumer Financial Protection Bureau (CFPB) has ordered Citibank, N.A. and its subsidiaries to provide an estimated $700 million in relief to eligible consumers harmed by illegal practices related to credit card add-on products and services.
Legal framework for Russia’s corporate actions reform approved
July 14, 2015 - The year 2014 saw the launch of the corporate actions reform in Russia which was initiated by the Russian central securities depository and backed by securities market participants.
Bank regulator IT examiners need more training - report
July 3, 2015 - American banking regulators are sending staffers with "little or no" tech training to carry out IT examinations at smaller institutions, according to a report from the US Government Accountability Office (GAO).
