The CFTC had previously issued an order designating DTCC–SWIFT as the provider of the legal entity identifiers (LEIs), which must be used by entities entering into swaps in compliance with the CFTC’s swap data reporting regulations. This Order includes findings of fact by the CFTC that DTCC–SWIFT is the only available identifier which satisfies all requirements of its swap data reporting rules and which provides an LEI that can be made available to market participants sufficiently in advance of the initial compliance date for swap data reporting to enable compliance with the rules. The

The UK government commissioned a survey (linked below, though I had some trouble opening the link without help from my help desk) to consider the benefits of various types of regulation of computerized algorithmic trading. Among the regulatory requirements considered in the study were (i) order to execution ratios, (ii) minimum resting times for orders, (iii) changes to tick size, (iv) circuit breakers, (v) requiring algo traders to act as market makers (providing continuous bid offers) and (vi) requiring traders to provide their algos to the regulators. The linked working paper presents

The SEC is adopting revisions to the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual and related rules to reflect updates to the EDGAR system. The revisions are primarily to support submission of Confidential Registration Statements; require Form ID authentication documents in PDF format; automate LTID generation for Large Trader registrations; support minor updates to Form D; remove superseded XBRL Taxonomies; remove the OMB expiration date from Form TA-1, TA-2, TA-W, 25-NSE; and request of unused funds. Note that the changed requirements are relevant to a broad

FINRA had previously proposed amendments to its Rule 4210 (margin requirements). The proposed amendments (a link is below) relate to the following issues: (1) revise the definitions and margin treatment of option spread strategies; (2) clarify the maintenance margin requirement for non-margin eligible equity securities; (3) clarify the maintenance margin requirements for non-equity securities; (4) eliminate the current exemption from the freeriding prohibition for designated accounts; (5) conform the definition of "exempt account"; and (6) eliminate the requirement to stress test portfolio

The IRS issued temporary regulations that extend until January 1, 2014 the current U.S. federal withholding tax regime that applies to “dividend equivalent payments” on equity swaps and derivatives under section 871(m) of the Internal Revenue Code. After January 1st 2014, U.S. withholding tax is expected to apply to dividend equivalent payments on a broader class of financial instruments. Cross-Reference(s): IRC Sec. 871(m). View full text of temporary regulations here (links to GPO website). For more information on section 871(m) and the proposed regulations issued thereunder, please see our