News & Analysis as of

Market Participants Risk Management

Goodwin

European Commission Issues Comprehensive Code of Practice for General-Purpose AI: A New Era of AI Governance

Goodwin on

The European Commission published its final code of practice (the Code) for general-purpose artificial intelligence (GPAI) models on 10 July 2025, delivering on its promise to provide practical guidance for AI governance....more

BakerHostetler

CFTC Provides Clarifying Guidance on Material Violations Regarding Self-Reporting, Cooperation, and Remediation System

BakerHostetler on

As we previously reported, in February, the CFTC’s DOE issued an enforcement advisory (the DOE Advisory) to provide guidance to market participants on how the DOE will evaluate a company’s or an individual’s conduct in the...more

Fisher Phillips

México Impone el Reporte de Sostenibilidad para Emisoras de Valores y Otros Participantes del Mercado de Valores: Puntos Clave...

Fisher Phillips on

Una reforma reciente en México introduce cambios regulatorios significativos, que incluyen requisitos de reporte anual para emisoras de valores y otros participantes del mercado de valores, incluidas las emisoras extranjeras....more

Fisher Phillips

Mexico Mandates Sustainability Reporting for Securities Issuers and Other Securities Market Participants: Key Takeaways for...

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A recent reform in Mexico creates significant regulatory changes, including annual reporting requirements for securities issuers and other securities market participants – including foreign issuers. Under the resolution,...more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA’s Approach to Non-Bank Leverage and Implications for Market Participants

On 25 February 2025, Sarah Pritchard, executive director of consumers, competition, and international at the UK Financial Conduct Authority (FCA), delivered a speech at the Investment Association Roundtable where she outlined...more

Jones Day

IOSCO Releases Consultation on Pre-Hedging Practices

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Pre-hedging has been the subject of significant debate within the financial industry in recent years, with concerns often raised over potential conduct and market integrity issues. The regulatory landscape remains fragmented,...more

Troutman Pepper Locke

After Initiating Credit Risk Show Cause Proceedings in 2022, FERC Finds that CAISO’s, ISO-NE’s, and NYISO’s Tariffs Remain Just...

Troutman Pepper Locke on

On September 21, 2023, the Commission issued separate orders on show cause proceedings finding that the existing tariffs of the California Independent System Operator Corporation (“CAISO”), ISO New England Inc. (“ISO-NE”),...more

White & Case LLP

Operational resilience, third party risk management and impact tolerance in the time of Coronavirus

White & Case LLP on

On 5 December 2019 the Bank of England (Bank), UK Prudential Regulation Authority (PRA) and UK Financial Conduct Authority (FCA) published coordinated consultation papers and policy on new requirements to strengthen...more

Sheppard Mullin Richter & Hampton LLP

SEC and FINRA Signal Renewed Focus on Vendor Management in Two Key Areas: Cybersecurity and Market Access Rule Compliance

The Securities and Exchange Commission (“SEC”) and Financial Industry Regulatory Authority (“FINRA”) recently issued guidance in connection with firms’ relationships with third-party service providers. These publications...more

Jones Day

ISDA Proposals to Minimize Impact of Sanctions on Derivatives Transactions

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The Situation: The increased use of financial sanctions (in particular "sectoral" or targeted sanctions) by the United States and European Union has the potential to cause short-term illiquidity, contagion, and market...more

WilmerHale

CFTC Ends 2019 with Rulemaking Flurry

WilmerHale on

The Commodity Futures Trading Commission (CFTC or Commission) at year-end issued one final and two proposed rulemakings. The proposed rules are potentially significant for all swap market participants, and the final rules are...more

Eversheds Sutherland (US) LLP

Regulatory guidance on the transition away from LIBOR

Earlier this month, staff of the Securities and Exchange Commission (SEC) published guidance that encourages market participants to move away from LIBOR (the Staff Statement). The interest benchmark rate is expected to...more

Herbert Smith Freehills Kramer

SEC Issues Statement on LIBOR Transition

On July 12, the staffs of the Division of Corporation Finance, Division of Investment Management, Division of Trading and Markets, and Office of the Chief Accountant (the “Staffs”) of the Securities and Exchange Commission...more

A&O Shearman

International Organization for Securities Commissions Publishes Report on Liquidity in Corporate Bond Markets Under Stressed...

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The International Organization for Securities Commissions has published a report studying the effect of stressed market conditions on liquidity in corporate bond markets. The report arose out of concerns about liquidity in...more

A&O Shearman

New UK Standard on Risk Management Transactions for New Issuances for the Fixed Income Markets

A&O Shearman on

The U.K. Fixed Income, Currency and Commodities Markets Standards Board has published a new Standard on Risk Management Transactions for New Issuances for the Fixed Income markets....more

McGuireWoods LLP

New CFTC Cybersecurity Standards Are Coming Soon

McGuireWoods LLP on

On September 29, 2015, Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad delivered a “State of the Derivatives Marketplace” speech before the 3rd Annual OTC Derivative Summit North America. The speech...more

Snell & Wilmer

Brokers Beware: Will the SEC Extend New Cyber Guidance to Brokers and Investment Advisers?

Snell & Wilmer on

Against the backdrop of a steady stream of cyber-attacks and data breaches, Securities and Exchange Commissioner Luis A. Aguilar recently spoke about his hope to expand upcoming SEC cyber security guidance, known as...more

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