In the first major trading and markets initiative under SEC Chairman Jay Clayton, on March 14, 2018, the SEC proposed to establish a transaction fee pilot program to study the effects of ...
Authored by Jai R. Massari, Annette L. Nazareth, Byron B. Rooney, Jeanine P. McGuinness, Zachary J. Zweihorn, Trevor I. Kiviat, Zachary B. Shapiro, Daniela Dekhtyar-McCarthy and Andrew Ru...
The past few days have seen several interesting developments in the law and regulation of digital tokens. Each action reflects an intense focus by U.S. regulators to clarify the treatmen...
Responding to a 2016 request by the SEC (in consultation with the Treasury Department), FINRA recently reviewed the extent to which various FINRA rules apply to U.S. Treasury securities. ...
In a move that took some by surprise, SEC Chairman Jay Clayton on Tuesday rejected requests from the SROs to delay the implementation of the Consolidated Audit Trail (“CAT”), despite ...
On October 26, 2017, the Division of Investment Management and the Division of Trading and Markets of the SEC issued three related no-action letters to address certain issues raised by cr...
FINRA announced that new rules governing the registration and qualification of member firms’ associated persons will become effective on October 1, 2018. The new rules will require subs...
The Treasury Department’s recent report on capital markets regulation includes a robust discussion of equity market structure issues. The report does not break new ground or raise issu...
The U.S. Treasury’s new Capital Markets Report recommends additional administrative requirements for regulatory actions by the SEC and the CFTC (the “Agencies”). If adopted, the pr...
In the wake of a highly-publicized cybersecurity breach involving the SEC’s EDGAR system, SEC Chairman Jay Clayton has been in the hot seat at recent congressional hearings, fielding po...
