In response to a request for comments, ISDA provided feedback on a consultative report outlining potential governance arrangements for OTC derivatives data elements other than the Unique Transaction Identifier and the Unique Product Identifier (collectively, "data"). The consultative report was part of a series conducted by the Committee on Payments and Market Infrastructures ("CPMI") and IOSCO. As previously covered, the consultative report was commissioned as part of an effort to harmonize data reported to trade repositories to improve transparency, alleviate risk and deter market abuse. In

CFTC Chair J. Christopher Giancarlo proposed an alternative cross-border swaps framework to "better balance systemic risk mitigation with healthy swaps market activity in support of broad-based economic growth." In a new white paper, he previewed weeks ago, Mr. Giancarlo outlined his views on the current CFTC approach to regulating cross-border activities and suggested a new approach that would encourage greater cooperation with non-U.S. jurisdictions. Mr. Giancarlo recommended, among other things: Non-U.S. Central Clearing Parties ("CCPs") : expanding the use of the CFTC's exemptive authority

The CFTC filed charges against an interdealer broker (registered as an introducing broker) (i) for deceiving clients by communicating fake bids and offers and fake trades in the foreign exchange options market and (ii) for supervisory failures. The Chairman of the Board of the interdealer broker agreed to pay $250,000 to settle the CFTC charges for failing to supervise. According to the Complaint, the purpose of the fictitious quotes and trades, a practice known as "flying prices" and "printing trades," was to give clients a favorable impression of the liquidity on the broker's platform and to

The CFTC charged an introducing broker ("IB") and an associated person for (i) misusing customer information to benefit the account of a customer for whom the associated person exercised discretionary authority, (ii) failing to maintain required records, and (iii) failing to supervise employees. According to the Complaint filed in the U.S. District Court for the Southern District of New York, a broker at EOX Holdings LLC ("EOX") shared with a client and friend ("Customer A") material nonpublic information regarding other EOX customers, and used his discretionary trading authority to trade on

FINRA will consolidate its Examination and Risk Monitoring Programs into a unified program to promote oversight and consistency, eliminate duplication and create a "single point of accountability for the examination of firms." Currently, there are three different programs divided into business conduct, financial and trading compliance. The undertaking is expected to continue through 2019.