John Lothian

John Lothian

Executive Chairman and CEO


The John Lothian Daily Update is a podcast turning the daily JLN hits and takes comments, our original content and the stories and quips in the top box of First Read into a daily podcast.

Hits & Takes

JLN Staff

John Lothian & JLN Staff

Nasdaq is holding a panel discussion titled “The Evolution of Retail Investing and Related Obligations” today at 12 PM ET. The moderator will be John Zecca, EVP & Global Chief Legal and Regulatory Officer, Nasdaq. Speakers are Phil Mackintosh, chief economist, Nasdaq, Gerri Walsh, senior vice president of investor education, FINRA, Lori Schock, head of office of investor education and advocacy, SEC, Ken Bentsen, CEO, SIFMA and Joe “JJ” Kinahan, managing director and chief strategist, TD Ameritrade. Register HERE.

The Financial Times has a special report about exchange traded funds. Here are the headlines from the report:

    • Investors salve pandemic wounds with gold in flight to safety
    • How best to invest for Brexit
    • US-China trade war hits passive investors
    • Subscale markets ‘coming of age’ push growth in Asia
    • Gold rush points to structural shift
    • Stockpickers fight back by modifying the design of ETFs
    • ESG surges as investors search for better corporate citizens

Brendan Kalb is now the general counsel of ExodusPoint Capital Management LP in New York. Previously, he was a partner at Morgan, Lewis & Bockius LLP and before that the general counsel of AQR Capital Management, LLC.

Phillip Futures has appointed Thair Hussain as executive director. Previously Hussain was the sales director, overseeing global sales operations.

On Friday JLN announced the launch of a new MarketsWiki Education video series, The Path to Electronic Trading. If you are interested in being part of the series, either as a session subject or advertiser, please contact me at

Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality and justice.~JJL


Brad Rosen, JD, has a post on Jim Hamilton’s blog detailing a panel discussion hosted by the Bipartisan Policy Center on climate risks in the financial markets. The conversation featured Senator Sheldon Whitehouse (D-RI), Representative Garret Graves (R-LA), CFTC Commissioner Rostin Behnam, and Bob Litterman, Chair of the CFTC’s Climate-Related Market Risk Advisory Subcommittee. The web-based discussion followed the CFTC’s recent report titled “Managing Climate Risk in the U.S. Financial System.” Jason Grummet, Bipartisan Policy Center’s president, moderated the discussion. ~Thom Thompson


First Read

Illinois’ Social Equity License Applicants Get Their Day in Court
By Suzanne Cosgrove – John Lothian News

Controversy over the application process for the state of Illinois’ 75 social equity licenses to open cannabis dispensaries found its way into court on Friday and is expected to be given a full hearing next Thursday, September 17.

U.S. District Court Judge Jorge L. Alonso heard preliminary arguments Friday from both sides of a lawsuit that was filed on behalf of 21 plaintiffs, applicants that did not make the final cut to win the licenses.

At the heart of the complaint (officially titled Southshore Restore and Heartland Greens v. Illinois Department of Financial and Professional Regulation; Brett Bender, Deputy Director), is the way hundreds of applications were scored by state contractor KPMG, and whether applicants who had incomplete or deficient applications were given a 10-day notice from the state to “cure” those problems.

To read the rest of this report, go here.

****And for more insight on the same subject, see JLN’s podcast below.


The Spread: Softbank’s Hard Knocks

This week (and last week) on The Spread – regulators publish their takes on global warming, Softbank gets in deep while Robinhood adds guardrails, and more.

Watch the video »


Were Illinois’ Social Equity Applicants Burned?

Heated debate and a lawsuit quickly followed the release on September 3 of a list of 21 finalists for the state’s social equity cannabis dispensary licenses. John Lothian News talked to Sparky Rose of the consultancy Supercritical to make sense of the social equity application process and learn why things have blown up.

Listen to the podcast »


Not enough Covid vaccine for all until 2024, says biggest producer; Serum Institute warns that companies are not increasing production capacity quickly enough
Stephanie Findlay in New Delhi and Anna Gross – FT
The chief executive of the world’s largest vaccine manufacturer has warned that not enough Covid-19 vaccines will be available for everyone in the world to be inoculated until the end of 2024 at the earliest. Adar Poonawalla, chief executive of the Serum Institute of India, told the Financial Times that pharmaceutical companies were not increasing production capacity quickly enough to vaccinate the global population in less time.

****** I wanted to make this the lead story, but I did not want to create any panic.~JJL


Victims of New York Ponzi Scheme Recover Over $1 Billion Following CFTC Enforcement Action
The Commodity Futures Trading Commission today announced that, pursuant an order entered on Monday, August 24, 2020 by the U.S. District Court for the Southern District of New York, the court-appointed receiver has completed a final distribution to victims in a $1.3 billion Ponzi scheme case brought by the CFTC in 2009. [See CFTC Press Release No. 5621-09] Specifically, the distribution pertains to customers in a commodity pool operated by defendants Paul Greenwood and Stephen Walsh, who, among other defendants, were charged in the case. The court-appointed receiver for this matter is Robb Evans & Associates LLC.

*****”The assets marshalled in this case include over $88 million in funds clawed back from fully redeemed customers, a $14 million horse farm in North Salem, NY, a collection of antique teddy bears sold at auction at Christie’s for over $3.7 million, and an estate in Sands Point, NY.”~JJL


Yoshihide Suga wins landslide in Japanese leadership contest; Shinzo Abe’s closest ally set to become next prime minister after winning LDP race
Robin Harding – FT
Yoshihide Suga will be the next prime minister of Japan after winning a landslide victory in elections to lead the ruling Liberal Democratic Party. The 71-year-old, who has been at the centre of Japan’s government as chief cabinet secretary for the past eight years, will replace Shinzo Abe, who is stepping down because of ill health.

*****The sweet puns have already started.~JJL


Dan Snyder says ‘Washington Football Team’ could become permanent name
NBC Sports
The name ‘Washington Football Team’ may be here to stay.
In an email sent to the Wall Street Journal earlier this week, Washington majority owner Dan Snyder said there is a chance ‘Washington Football Team’ remains the team’s permanent name going forward.

*****They should go for a market related term for their name, like “The Scalpers.”~JJL


These 5 Habits Will Help You Stay Focused All Day. A Psychologist Explains WhyFinding it hard to concentrate these days? Here’s how to get back on track.
Minda Zetlin –
Are you having a hard time staying focused on work, especially in these high-stress days? Some simple techniques can make a big difference, psychologist Traci Stein, Ph.D. explains in a recent Psychology Today post. Give her techniques a try and see how your own focus improves, and build them into daily habits to keep that benefit going into the future. You can find the full list here. These are some of her best tips.

*****I am sorry, what did you say?~JJL


Friday’s Top Three
Our top story Friday was John Lothian News Announces The Path To Electronic Trading Video Series from John Lothian. Second was JLN’s Gerry Corcoran’s One Day Of Working On The Cbot Trading Floor Started A Path To Electronic Trading. Third was Fauci says U.S. needs to ‘hunker down’ for fall and winter, from NBC News.

John Lothian Newsletter

Today’s Newsletter

We visit more than 100 websites daily for financial news (Would YOU do that?)

Now Read This

Pin It on Pinterest

Share This Story