Regulation

S&P Global Ratings’ settlement with the US Securities and Exchange Commission (SEC) specifically resolves violations of recordkeeping rules.

BAML have submitted a letter of Acceptance, Waiver and Consent (AWC) in order to propose a settlement of the alleged rule violations from FINRA, in which the respondents "accept and consent to the findings without admitting or denying them".

Following the UK’s Financial Conduct Authority (FCA) confirming final rules, the likelihood is for less of a regulatory clash between the US, the EU and the UK going forward, according to Substantive Research.

The US Securities and Exchange Commission has charged 26 firms a combined total of almost $400 million; three firms will pay reduced penalties following self-reporting.

Watchdog is introducing a new payment option which facilitates joint payments for third-party research and execution services, provided a firm meets requirements.

The AMF and Banque de France are calling for a coordination between the UK and Europe in their plans to shorten the settlement cycle.

If approved by the SEC, the Green Impact Exchange (GIX) is expected to begin operations in early 2025; founders previously served in senior positions at the New York Stock Exchange (NYSE).

The watchdog has confirmed that it will consider all input by 16 October 2024 before submitting a final report of technical standards on order execution policies to the European Commission.