The Death Knell Sounds for Reg AT's Source-Code Provision

With chairman Massad leaving the CFTC and commissioner Giancarlo likely to have a greater say, the source-code provision may be in trouble...if not the rule as a whole.

goddess-of-justice

On Tuesday, Commodity Futures Trading Commission (CFTC) chairman Timothy Massad announced he would step down from his post later this month. On Wednesday, President-Elect Donald Trump announced that he would appoint attorney Jay Clayton to head the Securities and Exchange Commission (SEC). Even though we're still 15 days away from Inauguration Day, the regulatory pieces are starting to take shape.

Reading the tea leaves, it appears that we're about to head into a period of—if not deregulation

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A rough race begins: Industry faces uphill transition to T+1 settlement

With T+1 compliance set to begin next May, firms will likely be burdened by reduced IT budgets, existing legacy systems and manual processes over the next 15 months. So, while faster settlement will help innovate the middle and back office, some argue industry needs a longer timeline.

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