Views on improving the integrity of global capital markets

Securities Market Regulation


No Third-Party Exams for Investment Advisers

The SEC does not intend to pursue the use of third-party examiners to conduct their investment adviser examinations.

Payment for Order Flow: UK Market More Competitive in Retail Trades After Ban?

Ban on payment for order flow positive for the quality of the UK market. Study finds that the proportion of retail trades executing at best quoted prices increased — a win for market integrity.

SEC’s Regulation Crowdfunding: Benefit for Investors and Industry or Concern?

Crowdfunding as an option for the offer and sale of securities became a reality when the SEC’s Regulation Crowdfunding went into effect in May.

SEC OKs IEX Application; Can “Flash Boys” Hero Improve Market for Investors?

IEX got approval from the SEC on 17 June to become the 13th registered stock exchange, as of August. Can IEX bring its intended benefits to investors? Will NASDAQ challenge the SEC’s decision?

How Are the UK and Australia Able to Avoid HFT Pitfalls Ravaging the US Market Scene?

The UK’s Financial Conduct Authority has released a report that aims to determine if high-frequency traders are anticipating order flow across markets. It finds …

The IEX Application: Some Further Comments

Our TabbFORUM article on the IEX exchange application generated a lot of feedback. Will the SEC OK the current application? Will encouraging time-delay competition among exchanges benefit investors?

IEX Exchange Application: SEC’s Reassessment of Reg NMS Critical to Decision

Market structure issues rarely attract mainstream media attention. But IEX application gets to the heart of the integrity of the market, the efficacy of the regulatory framework, and whether investors have a fair opportunity to earn a return.

European Market Infrastructure Regulation: Starting Point for OTC Derivatives Union?

EMIR’s aim is to make the clearing and reporting of OTC derivatives mandatory.

New EU Law to Enhance Transparency of Securities Financing Transactions

CFA Institute supports greater transparency over SFT activities and better monitoring of potential financial stability risks.

SIFMA Best Interests Standard for Broker-Dealers: Right Words, Wrong Substance

SIFMA proposal clings to antiquated idea that product sales is reasonable substitute for quality investment advice.

Hong Kong Regulator Brings in Outside Market Monitoring; SEC Considers Doing the Same

As regulators balance budget constraints with the need for proper market oversight, some are tapping external resources for support. Is it in the long-term interests of investors?

DC Policy Update: What to Expect after the Midterm Elections (Podcast)

Jim Allen, CFA, hones in on three financial policy issues and their likely future in Congress post-mid-term elections.

Volcker Rule: Gauging Its Impact on Global Debt, Currency, Derivatives Markets

Have investors noticed any changes in liquidity as a result of the Volcker Rule?

Six Ways to Empower Investors in Financial Malpractice Cases (Video)

Philip Bradford, CFA, discusses need for regulatory structure to support investor redress in retail markets and related developments in South Africa.

SEC Displays “Full Enforcement Arsenal” in 2014 Report

SEC’s recent enforcement record posts significant numbers for a division that not long ago was struggling for respect.



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