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FIC-MBS Alert! MBSD Pair-Off available in PSE. Given the complexity of To-Be-Announced (TBA) trading and the potential for misuse, there are several potential areas where unscrupulous actors could take advantage of such systems. Details inside.

https://www.dtcc.com/-/media/Files/pdf/2023/6/14/MBS1233-23.pdf What is happening? "EPN Pair-Off" service is a newly introduced feature by the Fixed Income Clearing Corporation (FICC), specifically their Mortgage-Backed Securities Division (MBSD). This service seems to aim at streamlining the process of pairing

FINRA 'discipline' RBC Capital Markets from 8/28/15-11/2/20, reported to FINRA a total of 1,554,311,898 orders & from 8/28/15-11/2/20 11,623,033 orders with an inaccurate capacity code. Penalties? $1,005,000 in fines & censure.

Good morning Superstonk! Jellyfish here with you to share something I saw via FINRA's discipline: RBC Capital Markets from 8/28/15-11/2/20, reported to FINRA a total of 1,554,311,898 orders & from 8/28/15-11/2/20 11,623,033 orders with an

SEC Alert! SEC Charges Investment Adviser and Principal in Abusive Naked Short Selling Scheme.

* SEC Complaint https://www.sec.gov/files/litigation/complaints/2023/comp-pr2023-107.pdf Press Release: The Securities and Exchange Commission today charged investment adviser Sabby Management LLC and its managing partner, Hal D. Mintz, with fraud in connection with a long running scheme involving misrepresentations and violations of rules for short

Between January 2016 and June 2021,TD Ameritrade sent its customers confirmations for ~9.8 million transactions that omitted required disclosures regarding customers' purchase of Exchange Traded Notes ETNs.

ETN is an unsecured debt security that tracks an underlying index of securities--a short tool https://www.finra.org/sites/default/files/fda_documents/202107054701%20TD%20Ameritrade%20Clearing%2C%20Inc.%20CRD%205633%20AWC%20lp.pdf Punishment? What Are Exchange-Traded Notes (ETNs), and How Do They Work? Exchange-traded notes (ETNs) are

SEC Chair Gary Gensler: "Given that most crypto tokens are subject to the securities laws, it follows that most crypto intermediaries have to comply with securities laws as well."

"In other parts of our securities markets, the exchange, broker-dealer, and clearing functions are separate." Source: https://www.sec.gov/news/speech/gensler-remarks-piper-sandler-060823 Before getting to Gary's speech: A DEX is an exchange and proof of delivery for assets one to one, so it is not

Commissioner Hester M. Peirce: "Although I agree with the objectives of these rules—namely, to reduce the incidence of misconduct in the security-based swap markets—these final rules leave unaddressed concerns I had at the proposing stage"

Commissioner Hester M. Peirce: "Although I agree with the objectives of these rules—namely, to reduce the incidence of misconduct in the security-based swap markets—these final rules leave unaddressed concerns I had at the proposing stage about their breadth, and I accordingly cannot support them." Source: https:

SEC Alert! Whistleblower Left Hanging: SEC Comissoners Hester Peirce & Mark Uyeda skirt duty, cite SEC overload of Rules Review. I am glad supporting whistleblowers is only something we can do when we are not busy... /s

https://www.sec.gov/news/statement/peirce-uyeda-murray-v-ubs-20230706 Wut Mean? The Supreme Court is about to play ball with a case called Murray v. UBS Securities. This is about a guy (Murray) who blew the whistle on some sketchy stuff happening at UBS Securities, and then was shown the door. Now,