In the latest issue of Energy Metro Desk, an article titled "Jail Time for Spoofing?" discusses the implications of the recent Department of Justice ("DOJ") criminal charges against Michael Coscia of Panther Energy Trading for spoofing. According to the article, spoofing is believed to be "rampant in the gas and oil markets, such that human traders will now often bypass certain closing windows and weekly report release times for fear of being run over by high-speed firms." The article refers to a New York Times Dealb%k blog post by Wayne State University professor Peter Henning, who notes that

At the 15th Annual A.A. Sommer Jr. Lecture on Corporate, Securities and Financial Law, SEC Commissioner Daniel M. Gallagher spoke about the future of the SEC, stating that it and the U.S. capital markets face an existential threat: "the encroaching imposition of so-called prudential regulation on markets wholly unsuited to that regulatory paradigm." The way that the SEC handles this encroachment, explained Commissioner Gallagher, will determine whether the SEC remains as relevant in the 21st century as it was in the 20th. Commissioner Gallagher identified two key "guideposts" that will ensure

The SEC made available analyses of data on the reporting and dissemination of security-based swap transaction information through two memorandum. The memos, which are available on the SEC's website, examine the effect of the CFTC-mandated post-trade transparency in the index credit default swaps ("CDS") market on total credit exposure, trading volume, and trade size in the index CDS market. They also discuss if and how dealers may hedge any large notional exposures that result from executing trades with their customers. The first memo, titled "Analysis of Post-Trade Transparency under the CFTC

The Financial Stability Board ("FSB") reissued the Key Attributes of Effective Resolution Regimes for Financial Institutions ("Key Attributes Document"), incorporating additional guidance on the FSB's application to non-bank financial institutions and on arrangements for information sharing. The Key Attributes Document was adopted by the FSB in October 2011, and set out twelve essential features that should be part of the resolution regimes of all jurisdictions. The 2014 version of the Key Attributes Document incorporates additional guidance that elaborates on information sharing for

The FINRA-proposed rule change regarding the implementation date for market participant identifier requirements for Alternative Trading Systems ("ATSs") was published in the Federal Register. FINRA proposed to postpone the implementation date to February 2, 2015, at which time ATSs will be required to use unique market participant identifiers when reporting order and trade information to FINRA. While the rule change was filed for immediate effectiveness, comments can be submitted until November 7, 2014. See: 79 FR 62500; FINRA Rule Filing. Related news: FINRA May Delay Implementation Date of