Securities and Exchange Commission

How Now and What’s Next for Retail Forex?

by JLN Staff | Jun 2, 2016

As the self-proclaimed regulatory expert at John Lothian & Co., with my first three years here spent building our regulatory database MarketsReformWiki, I am generally the go-to person on stories involving rule changes. But when I was asked about the June 1 letter...

Disruption is Not Innovation

by JLN Staff | Apr 9, 2016

By Dr. Holly Bell Prior to 1975, stocks often traded at different prices on different venues making it difficult for traders to find the best market prices. To resolve this problem, the SEC began its pursuit of a national market system, which has experienced several...

Let’s Pause a Moment: Keith Ross Talks Dark Pool Rules and IEX

by JLN Staff | Mar 10, 2016

The addition of high speeds and multiple execution venues has altered the equity market structure in recent years. Now the SEC is weighing in with newly proposed rules on dark pools. Meanwhile, IEX, which rose to fame with Michael Lewis' Flash Boys, is trying to move...

Haim Bodek, Decimus Capital Markets – A Flash Course on Market Structure

by JLN Staff | Dec 30, 2015

"In the market there are edges that are permissible, and edges that are impermissible. It is the impermissible ones that you should care about. If it doesn't smell right, leave."The 2014 publication of Michael Lewis' Flash Boys ignited a firestorm of accusations and...

John Lothian Newsletter: No Exchange for You! NYSE Channels Seinfeld in IEX Critique; CME boosts top executives’ pay; From Pits to Algos, an Old-School Trader Makes Leap to Spoofing

by JLN Staff | Nov 13, 2015

First Read Goldman Sachs Names 425 New Managing Directors By LIZ MOYER - NY Times Nearly a third of the Goldman Sachs Group's 425 newly minted managing directors are millennials, or people born after 1980. Forty percent were hired as analysts. Roughly 21 percent are...

John Lothian Newsletter: SEC Set to Approve CEO Pay-Gap Disclosure Rule; An Exchange in Australia Woos Listings From China; China Hopes to Defy History of Market Bailouts

by JLN Staff | Aug 5, 2015

First Read ++++ MarketsWiki Education Summer Intern Series - Day One By Sarah Rudolph, Managing Editor, JLN Our Chicago Summer Intern Series kicked off with a packed auditorium at IIT and five lively speakers, who all spoke about their passion for the trading...

The Life of SCI: John Rapa Looks at the SEC’s Reg SCI

by JLN Staff | Mar 17, 2015

After several high-profile market disturbances, from the 2010 "flash crash" to the Knight Capital algorithmic meltdown in 2012, the SEC considered a new set of rules to tighten up system compliance and integrity. The rules, known collectively as "Reg SCI" became...

John Lothian Newsletter: BATS Moves Toward Another Try at an IPO; Volatility Has Natural-Gas Traders Scrambling; SEC Sees Pervasive Bad Behavior in Complex Debt

by JLN Staff | Feb 18, 2015

First Read Ivers Riley: A Man for All Markets Jim Kharouf - JLN There are pioneers, innovators and leaders in every industry. Ivers Riley is one of the rare individuals to wear all three titles. Riley, who died yesterday at the age of 82, is one of those executives...

John Lothian Newsletter: Bunge says China lenders distorting soyabean trade; U.S. Treasurys Carry Weight of the World; Lost Comment Letter Triggers (Another) SEC Dissent

by JLN Staff | Feb 13, 2015

First Read FINRA Board Approves $50 Million Contribution to the FINRA Foundation FINRA Contribution to Provide Ongoing Support for Research and Education Aimed at Improving the Financial Capability of Individuals and Families Nationwide The Board of Governors of the...

John Lothian Newsletter: ICE bans ‘disruptive trading’ strategies; SEC Plans to Fix Flaw in Electronic Distribution System; FINRA fines Pershing LLC $3m for violating customer protection rule

by JLN Staff | Dec 30, 2014

First Read ICE bans 'disruptive trading' strategies Gregory Meyer in New York, FT Intercontinental Exchange has explicitly banned an array of market strategies — from flooding its systems with data to tricking others by cancelling orders — in a tougher stance towards...

“Gimme Some Money”: Money Market Gets Another Regulatory Look

by JLN Staff | Jul 22, 2014

Editor's note: On Wednesday, July 23, the SEC approved final money market reform rules, which have introduced a floating NAV and retention gates during times of market stress. VIEW SEC PRESS RELEASE On July 23, traders, fund managers and other big buy-siders will be...

Compliance Advice on SEC’s Market Access Rule from Julie Dixon of Titan Regulation

by JLN Staff | Jun 13, 2013

Regulating the U.S. financial markets is an increasingly difficult task for the Securities and Exchange Commission and other regulators. Not only must the commission enforce the rules currently on the books, it must also respond to new crises that may be threatening...

SEC Tables Money Market Fund Regulation: Michael Markowitz Analysis

by JLN Staff | Aug 30, 2012

Michael Markowitz is chief investment officer at Horizon Cash Management LLC, an investment advisory firm specializing in the managing of cash portfolios for hedge funds, managed futures funds, family offices and institutional investors. Markowitz spoke with John...

George Bollenbacher of Kinetix Trading Solutions & Kim Olson of Deloitte & Touche Discuss the Volcker Rule

by JLN Staff | Apr 12, 2012

Section 619 of the Dodd-Frank Act, the so-called "Volcker Rule," would prohibit banking entities from engaging in proprietary trading of and limit the ownership or sponsorship of hedge funds and other private funds, subject to certain narrow exceptions. The statutory...