SEC Approves New Rule Requiring Consolidated Audit Trail to Monitor and Analyze Trading Activity
July 11, 2012 - The Securities and Exchange Commission today voted to require the national securities exchanges and the Financial Industry Regulatory Authority (FINRA) to establish a market-wide consolidated audit trail that will significantly enhance regulators' ability to monitor and analyze trading activity.
Lords call for halt to "rushed" MiFID II reforms
July 10, 2012 - The UK's House of Lords has urged the European Commission to call a halt to proposed changes to the Markets in Financial Instruments Directive (MiFID II), labelling the reforms as "ill-thought out" and potentially damaging to the City of London.
SEC Approves Rules and Interpretations on Key Terms for Regulating Derivatives
July 9, 2012 - The Securities and Exchange Commission late Friday took another step toward regulating the over-the-counter derivatives market by unanimously approving rules and interpretations for key definitions of certain derivative products.
IOSCO and Basel Committee outline new requirements to cut derivatives risk
July 9, 2012 - The Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) have published a consultative paper on margin requirements for non-centrally-cleared derivatives, and have invited public feedback on the scope, feasibility and impact of its proposed measures.
EU drives ahead with regulating OTC derivatives by year end
July 5, 2012 - The Council of the European Union has adopted a regulation requiring financial firms to clear over-the-counter derivatives contracts through a central clearing counterparty and report them to trade repositories.
CFTC Approves Phased Compliance Proposal for Certain Swap Regulations
June 29, 2012 - The Commodity Futures Trading Commission (Commission) today voted to propose a phased compliance program regarding certain swaps to non-U.S. swap dealers, non-U.S. major swap participants, U.S. swap dealers, U.S. major swap participants, and foreign branches of U.S. swap dealers and U.S. major swap participants.
SEC Adopts New Procedures for Reviewing Clearing Submissions Under Dodd-Frank Act
June 28, 2012 - The Securities and Exchange Commission has adopted rules that establish procedures for its review of certain clearing agency actions. The rules were required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which called for a new regulatory framework for trading in over-the-counter derivatives, including swap agreements.
Trade associations' unveil EU regulation guidebook
June 28, 2012 - Four trade associations, including the Association of Private Client Investment Managers and Stockbrokers (APCIMs), the European Federation of Energy Traders (EFET), the Futures and Options Association (FOA) and the Wholesale Market Brokers' Association (WMBA), have announced their joint development of a business-friendly guide to assist firms in complying with the complex set of new European-wide regulatory standards.
