The European Securities and Markets Authority (ESMA) has published a press release sharing its view that the pre-trade controls that investment firms have implemented warrant further convergence. The EU Markets in Financial...more
Fiat Chrysler and France’s Peugeot are in the midst of merger talks that, if finalized, could “create a nearly $50 billion trans-Atlantic auto giant.” One option being bandied about in the “fluid” talks is an “all-share...more
It's been a year since the European Commission published its Fifth Report on the application of the European Product Liability Directive (the "Directive") and set up expert panels to develop its thinking on next policy steps....more
We recently discussed the topic of risk management as it relates to artificial intelligence (AI) in financial services, and suggested certain tips for the financial services sector. This article is the first of a series that...more
The European Securities and Markets Authority has published a decision (dated September 26, 2018) of its Board of Supervisors to withdraw its existing Guidelines for trading platforms, investment firms and national regulators...more
The revised EU Markets in Financial Instruments package—known as MiFID II—takes effect on January 3, 2018. Some aspects of this legislation are extra-territorial. New rules on inducements, the unbundling of research, legal...more
SEC/CORPORATE - SEC Commissioners Announce Search for First-Ever Advocate for Small Business Capital Formation - On September 13, the Commissioners of the Securities and Exchange Commission (SEC) announced the launch of...more
The revised EU Markets in Financial Instruments package—known as MiFID II—takes effect on January 3, 2018. New rules on trading inducements, research, best execution, market transparency and the regulation of algorithmic...more
On 30 March 2017, the German Parliament (Bundestag) finally approved a complete revision of the German Securities Trading Act (Wertpapierhandelsgesetz) as part of the Second Financial Markets Reform Act (2....more
The Brexit referendum result in June last year created many uncertainties for the British economy and continues to do so. In this Breakfast Seminar, Robert Bell will focus his remarks on what he sees will be the likely...more
A Commission Delegated Regulation, outlining the Regulatory Technical Standards on ratios of unexecuted orders to transactions, was adopted by the European Commission. The adopted RTS will supplement the requirements set out...more
Industry Comments to Regulation AT Argue CFTC Proposed Rules Too Prescriptive; Registration and Source Code Requirements Particularly Objectionable - After declining multiple requests to extend the comment period that...more
It’s a whole new ballgame for Wall Street traders—and one suspects it’s involving a lot fewer actual ballgames and a lot more algorithms, as the advanced-degree coders and their ETF firms take on the old guard – NYTimes...more
2015 was not exactly the year of the hedge fund, and 2016’s starting off with its worst start for the industry since 2008. But if you think that’s keeping managers from starting new portfolios with an eye toward hitting it...more