Category: Regulations

CAT Numbers are Out of Whack

After four years of waiting for the self-regulatory organizations to submit their plan for the Consolidated Audit Trail, the Securities and Exchange Commission unanimously approved to release it for comment. In the next few days, the plan will appear in the Federal Register and the SEC will have 180 days from then to select a…

Bitcoins! Bitcoins! Bitcoins!

Kicking of the second season of The Daly Post Podcast, I sit down with Wall Street Bitcoin Alliance executive director Ron Quaranta and discuss what institutional investors, broker-dealers, exchanges and vendors need to do to take part in the ever-growing Bitcoin market. Although these cryptocurrencies have strong libertarian, over-the-counter, and retail roots, Quaranta sees the markets maturing…

Fed Calls for Further Non-bank Transparency

Speaking before German Finance Ministry and Bundesbank officials earlier today, Federal Reserve Vice Chairman Stanley Fischer warned his audience that non-bank are less vulnerable than they were during the global financial crisis, but now is not the time to relax. “Regulation is a ‘cat and mouse’ game,” said Fischer. “Regulators need to respond to existing…

Brokers, Synchronize Your Watches

BATS Market Structure Reform: The Devil Take the Hindmost

The industry might have rung out 2014 discussing the “grand compromise” on the US equity market structure led by the Intercontinental Exchange that would lower access fees in exchange for a trade-at rule, but BATS Global Trading wasted no time in the new to offers its market-structure alternative. In an open letter to the industry, exchange CEO…