News
(Best Execution)
Following the 2022 BCBS-CPMI-IOSCO review of margining practices, and recent reports on stress in commodities markets, the FSB has published a consultation report listing eight proposed policy recommendations for the enhancement of liquidity risk management in the non-bank financial intermediation (NBFI) sector.
(WSJ)($)
The maker of the popular stock-trading app Webull is facing a multistate inquiry over its ties to China. Fourteen states are seeking information on Webull’s measures to protect sensitive investor data from the Chinese Communist Party, according to a letter posted Tuesday by Indiana attorney general Todd Rokita, whose office is leading the inquiry.
(Bloomberg)($)
Sixteen financial firms agreed to pay more than $81 million in civil fines after a federal probe found their employees used personal text messages for business purposes, marking the latest round of penalties to emerge from regulators’ so-called WhatsApp investigations.
(CoinDesk)
Sherrod Brown (D-Ohio), a crypto-skeptic who runs the influential Senate Banking Committee, is open to advancing long-sought legislation for stablecoins, Bloomberg reported Tuesday, citing an interview with him. Brown, according to Bloomberg, said that his concerns would have to be addressed before he would fully get behind a stablecoin law, however.
(Bloomberg)($)
The US Securities and Exchange Commission was sued by a conservative think tank and a pair of individual investors who claim the regulator’s new market surveillance tool violates their constitutional privacy rights. Filed Tuesday in federal court in Waco, Texas, the suit led by the National Center for Public Policy Research accuses the SEC of acting without authority to create the Consolidated Audit Trail, a database intended to collect virtually all US trading data.
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OpenYield Trading prints first trade
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