FINRA’s 2017 Regulatory and Examination Priorities

Emily HayesBest Practices, Market Rules & Responsibilities

FINRAs-2017-regulatory-examination-priorities

Earlier this year, FINRA published its Annual Regulatory and Examination Priorities Letter to provide the industry with insights into the areas FINRA plans to review in its 2017 exams and to assist financial firms with reviewing and strengthening their own supervisory and compliance systems.  The letter states five priority areas the authority will focus on in its 2017 exams with … Read More

Amendments to CME/CBOT/NYMEX/COMEX/CME SEF Rule 432 (General Offenses) Chapter 4, Enforcement of Rules

Emmett McGrathMarket Rules & Responsibilities

chicago-mercantile-exchange-building-cme-rules-and-regulations

Amendments to CME Rule 432 (General offenses) went into effect February 16, 2017. These amendments expand upon the protective measures previously found in CME Rule 432. The amended rule now extends liability for fraud and bad faith (432.B.1); manipulative devices, schemes, and artifices to defraud (432.H.); and delivery of false, misleading or inaccurate crop or market information (432.J.) to include … Read More

Citi Agrees to Adopt Compliance Program and Pay CFTC $25 Million for Alleged Spoofing

Emily HayesCase Studies, Market Rules & Responsibilities

citi-cftc-spoofing

Citigroup Global Markets Inc. (Citi) settled with the Commodity Futures Trading Commission (CFTC) on January 19, 2017 over the CFTC’s allegations that five traders at Citi “spoofed” the U.S. Treasury futures markets and that Citi failed to supervise the trading activity of its employees.  Pursuant to the Order, Citi must pay a fine of $25,000,000 and must maintain systems and … Read More

Brexit Supreme Court Ruling and Article 50

Julianne DardanesCase Studies

brexit-supreme-court-ruling

Last June British voters shocked the world by answering affirmatively to a referendum that, if acted on, would remove the United Kingdom from the European Union. The political and economic implications of this decision were and still remain largely unknown, but we outlined some of the possibilities in our initial post about this topic over the summer.