The bank has been accused of “policies and procedures failures” involved with multiple funds marketed as ESG investments, as the industry struggles to manage rising ESG research and compliance costs.
US and European regulators look set to be taking starkly different stances on the contentious practice of paying for order flow.
The regulator’s proposed rule changes look to lower risk through improved central clearing within the US Treasury market.
Professors from the University of California conducted a detailed academic study of brokerage accounts, concluding that payment for order flow does not appear to impact price.
Survey finds firms left flailing after regulator confirmed plans last month to allow its no-action letter allowing EU asset managers to pay US brokers in cash for research to expire next year.
William Birdthistle, director of the SEC’s division of investment management, attributed research services market developments as a reason behind choosing not to extend the temporary position.
A federal court has ruled that the SEC’s decision to approve a controversial type of market order from IEX Group was lawful, in the latest twist of the Flash Boys drama.
Following the recent dismissal of the so called ‘Flash Boys Case’ made against exchanges for favouring high frequency traders, Annabel Smith explores how Michael Lewis’ original novel has shaped the market... and why it drove asset managers to take legal action.
The past week saw appointments from Coinbase, Citi, UBS, Tradeweb, the SEC and Newton Investment Management Group.
New commissioner has been sworn into the position after serving at the SEC in a variety of roles since 2006.