SEC proposes new rules to tackle the misuse of artificial intelligence in investment processes
New rules are focused on tackling the way predictive data and similar technologies can allow firms to place their interests ahead of those of investors.
Tag: SEC
Buy-side ‘aware and worried’ about T+1 as implementation and testing ramps up
Europe and Asia Pacific firms are honing their focus in recent months amid mounting pressure surrounding the shift to T+1 in North America.
Regulation
Challenges for the buy-side and research providers become a reality as SEC allows ‘no-action’ research letter to lapse
With the expiry of the SEC ‘no-action’ letter based on enforcement surrounding research services, industry experts provide insights on the impacts and possible solutions.
JP Morgan to pay $4 million civil monetary penalty to SEC for mistakenly deleting 47 million emails
The SEC claims the records were requested as part of at least 12 regulatory investigations; findings follow two previous orders settled by JP Morgan for failure to preserve records.
PIMCO charged by the SEC for swaps disclosure and procedures failures
Without admitting or denying the regulator’s findings, PIMCO has agreed to a cease-and-desist order and a censure; will pay a combined penalty of $9 million.
BlackRock dives deeper into crypto as it files for bitcoin ETF with the SEC
If approved by the regulator, this would be the first publicly traded spot bitcoin ETF in the US.
One year to T+1: ‘Time to roll up your sleeves’
Thoughts from across the industry as the countdown to T+1 drops below 12 months.
SEC proposes rule changes to enhance risk management and resilience of covered clearing agencies
New proposals would include the requirement for covered clearing agencies to have policies to establish a risk-based margin system which monitors intraday exposure on an ongoing basis.
HSBC and Scotia Capital charged by SEC for off-channel communication recordkeeping failures
Both firms acknowledged that they violated recordkeeping provisions of the federal securities laws, with HSBC and Scotia agreeing to pay penalties of $15 million and $7.5 million, respectively.
Chatham Asset Management and its founder charged by SEC for improper fixed income securities trading
Without admitting or denying the SEC’s findings, Chatham and its founder agreed to pay over $19.3 million in combined disgorgement, prejudgment interest and civil penalties to settle the charges.