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dismal-jellyfish

"Unrelated to the data conversion issue, Instinet experienced late reporting issues in connection with at least 26 billion events from 11/2020 through 12/2022, which constituted approximately 8% of the firm's CAT reporting obligation for this period"

"Unrelated to the data conversion issue, Instinet experienced late reporting issues in connection with at least 26 billion events from 11/2020 through 12/2022, which constituted approximately 8% of the firm's CAT reporting obligation for this period"

FINRA says they knew & did not care! https://www.finra.org/sites/default/files/fda_documents/2020067139101%20Instinet%2C%20LLC%2C%20CRD%207897%20AWC%20gg.pdf Wut Mean?: * Instinet was mandated to start reporting order data to the CAT Central Repository from June 22, 2020. * Instinet hired a third-party
dismal-jellyfish ๐Ÿ“ฐ News
"These vulnerabilities will remain for some time." Fitch Ratings lowered the operating environment score for U.S. banks in June to โ€˜aa-โ€˜ from โ€˜aaโ€™

"These vulnerabilities will remain for some time." Fitch Ratings lowered the operating environment score for U.S. banks in June to โ€˜aa-โ€˜ from โ€˜aaโ€™

Fitch Ratings-New York-17 August 2023: Fitch Ratings lowered the operating environment (OE) score for U.S. banks in June to โ€˜aa-โ€˜ from โ€˜aaโ€™ mainly due to structural uncertainty around the path and rate of monetary tightening and gaps in in the regulatory framework. The lowering of the OE score did
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
SEC to hold an OPEN Meeting Wednesday, August 23, 2023 at 10:00 a.m. They appear to be considering eliminating conditions under which broker-dealers can bypass the requirement to join a national security association

SEC to hold an OPEN Meeting Wednesday, August 23, 2023 at 10:00 a.m. They appear to be considering eliminating conditions under which broker-dealers can bypass the requirement to join a national security association

Wut mean?: * SEC is thinking about reducing or eliminating certain conditions under which broker-dealers can bypass the requirement to join a national securities association (like FINRA) if they make securities trades outside of the specific exchanges where they are registered members. They are also going to consider introducing new regulations
dismal-jellyfish ๐Ÿงฑ Market Reform
FINRA 'discipline' Alert! "From the start of its Consolidated Audit Trail (CAT) reporting obligation on June 22, 2020, through the present, Instinet failed to timely and accurately report data for tens of billions of order events to the CAT."

FINRA 'discipline' Alert! "From the start of its Consolidated Audit Trail (CAT) reporting obligation on June 22, 2020, through the present, Instinet failed to timely and accurately report data for tens of billions of order events to the CAT."

CAT reporting requirements: Wut Mean?: * All proprietary trading, including market-making, falls under CAT reporting. * FINRA relies heavily on CAT data for its automated market surveillance to detect potential market manipulations and violations. * Proper, timely reporting ensures a quality regulatory audit trail and assists in accurate market event reconstruction. Instinet failed
dismal-jellyfish ๐Ÿ“ฐ News
Between July 2018 & September 2021, Goldman Sachs failed to report, or inaccurately reported, OTC options positions to the LOPR in approximately 1,035,000 instances.

Between July 2018 & September 2021, Goldman Sachs failed to report, or inaccurately reported, OTC options positions to the LOPR in approximately 1,035,000 instances.

Wut mean?: * Between July 2018 and September 2021, Goldman failed to report, or inaccurately reported, OTC options positions to the LOPR in approximately 1,035,000 instances, * FINRA mandates its member firms to report significant options positions to the LOPR. * The LOPR data helps FINRA spot large options position holders
dismal-jellyfish ๐Ÿ“ฐ News