A Quick Look: ESMA’s analysis of 2020 short selling ban

Financial regulators in Austria, Belgium, France, Greece, Italy, and Spain banned short sales of equities for two months in 2020 in response to Covid-19 market turmoil. Staff at the European Securities and Market Authority (ESMA) collected data on how equities...

A Quick Look: CFTC No-Action Letter 22-3

In the Commodity and Futures Trading Commission (“CFTC”) staff’s third letter of 2022, the Division of Data gave no-action relief for swap data reporting amendments adopted by the CFTC in November, 2020. Those amendments were accompanied by technical specifications...

A Quick Look: CFTC staff advisory letters 22-1 and 22-2

On January 5, 2022 the Market Participants Division of the Commodity Futures Trading Commission (“CFTC”) issued two no-action letters directed towards swap dealers permitting them to prepare annual audited financial statements in accordance with other countries’...

Looking Lackluster: FICC fined by SEC

In an order entered October 29, 2021, the Securities and Exchange Commission (“SEC”) fined Fixed Income Clearing Corporation (“FICC”) $8,000,000 and set additional documentation and compliance requirements for FICC’s operation over the next three years. FICC is a...

Looking askance: CFTC fines Bitfinex

The Commodity Futures Trading Commission (“CFTC”) fined iFinex Inc., BFXNA Inc., and VFXWW Inc. (collectively, “Bitfinex”) $1,500,000 for offering financed retail commodity transactions sans regulations by a board of trade designated or registered by the CFTC....