Regulation
SEC gunning to take over CAT in 2027
Chairman Atkins has plans for the SEC to run the Consolidated Audit Trail directly. Industry participants are split on the idea.
Cyber audit leaves Eiopa with a credibility problem
The Dora supervisor charged with overseeing critical tech vendors has been critiqued for IT security failings.
The danger of prediction markets is precisely how useful they are
The Waters Wrap: Prediction markets may seem like a gamer’s paradise or a honey pot for those looking to corrupt betting. But they have another use in forming institutional prices. At least, that’s what Max Bowie is putting his money on.
The Clarity Act enters the Last Chance Saloon
The US’ landmark crypto bill’s future looks uncertain. Crypto fans may still see the bill pass before fall, but it’s the hope that kills you, Eliot writes.
Red alert: how Nasdaq’s Smarts became surveillance blind spot
Software that looks for shifty trades has been asleep on the job, affecting alerts for hundreds of products.
Are recordkeeping rules ripe for updates?
The Waters Wrap: SEC Rule 17a-4 appeared back on the SEC’s 2026 agenda two weeks ago. Some in the industry are hoping for relief, Reb writes.
The first overnight trading puzzle pieces fall into place
The Waters Wrap: The NSCC moved to 24x5 clearing hours last week. What comes next is worth paying attention to, Nyela writes.
EU exchanges shake up data policies ahead of new pricing rules
As each EU exchange interprets the RCB regulation differently, market data users across the industry are left to grapple with the new pricing policies changes
Where a US antitrust case and a data law meet
The Waters Wrap: Regulators’ choice not to endorse a securities identifier under a new law keeps business as usual for firms required to pay Cusip license fees—but Reb isn’t ruling out a shake-up just yet.
How gatecrashers could spoil the tokenization party
Blockchain can curb settlement risks, but that could come at the expense of new third-party risks.
US regulators remove FIGI proposal from joint FDTA rules
The Financial Data Transparency Act’s final rules omit an earlier proposal to establish the FIGI as a common financial instrument identifier across regulatory reporting activities.
Can Canada follow in the US’s footsteps in overnight trading?
Canadian marketplaces and trading venues are in a race to see who can first authorize overnight equities trading, but not everyone is convinced of its value.
Will SEC reporting proposal supercharge alt data providers?
An SEC proposal that would let companies opt out of quarterly reporting disclosures could be a boon for alternative data providers.
Paxos wins temporary approval for blockchain clearing push
Blockchain infrastructure company will have a period of 18 months to “ramp up” readiness for operations, per the SEC’s approval letter.
Is a 2027 T+1 move too soon for Hong Kong?
The Waters Wrap: Wei-Shen examines HKEx’s discussion paper on moving to T+1 in Q4 2027. A move so soon has its benefits but still requires careful consideration, she says.
EU AI Act leaves agents in regulatory limbo
A new paper published by AI ethicists draws attention to a hole in the EU AI Act surrounding high-risk agentic systems.
AI governance rules coming soon, says CFTC chair
Selig doesn’t want to stifle innovation, but says trading or advice algos will need guardrails.
Hitting the Great Wall: Details scarce on China’s Xinchuang initiative
In a quest to learn more about China’s Xinchuang initiative, Wei-Shen finds trying to get information feels like running into a wall over and over again.
24X says requested SIP exemption won’t break the market
In a new letter to the SEC, the startup exchange says data infrastructure that operates like the SIP is available as it looks to launch overnight trading this summer.
How banks are utilizing new AI forms in their KYC process
Execs from JP Morgan, ING, and Standard Chartered explain how they are looking to use agentic AI to streamline KYC workflows.
T+1 in Asia-Pacific: Preparing post-trade operations for what’s ahead
There are benefits of Asia-Pacific markets moving to T+1, but there are unique complexities to tackle, says DTCC’s Val Wotton.