The TRADE’s Crystal Ball 2021: Regulation
Gaze into The TRADE's crystal ball for insights from market participants on their regulation and market structure predictions for the year ahead.
Regulation
ESMA reports huge €78 million increase in market abuse sanctions in 2019
The EU regulator said that a total of €88 million in fines relating to 339 actions under the market abuse regulation were imposed in 2019, up from €10 million in 2018.
ESMA opens consultation on impact of algorithmic trading under MiFID II
The consultation paper seeks industry feedback on the market impact of requirements relating to algorithmic trading under the MiFID II regulations.
Redfearn tenure as SEC trading and markets director to end this year
Brett Redfearn has been director of the trading and markets division at the SEC since October 2017.
US to decentralise SIP model and add depth of book data in major overhaul
The decision to overhaul market data feeds in the US could bring more competition to the space and decrease escalating data costs for investors.
CFTC chair Tarbert to step down early next year
Heath Tarbert was appointed chair and commissioner of the CFTC in 2019 and will resign as chair when Joe Biden takes office in 2021.
US authorities urged to investigate ‘illegal’ changes to CME market data fee policies
EDI has called on the CFTC, House of Representatives, and the US Senate to investigate fee changes at CME Group that would increase costs each year for the firm.
European Commission launches consultation to review CSDR and buy-in regime
The majority of industry bodies and market participants will most likely focus their feedback on the settlement penalties and the buy-in components of CSDR.
US derivatives watchdog issued highest number of enforcements in its history during 2020
The CFTC set a new record for the number of enforcements during 2020 totalling $1.3 billion, despite operating through the pandemic.
JP Morgan to pay $250 million penalty for risk management failures
The OCC said JP Morgan had failed to maintain adequate internal controls and internal audit over its fiduciary business.