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How the Need to Better Monitor the Crypto Market is Driving Innovative Surveillance White Paper

As regulatory clarity could be years away, corporate leaders in digital asset markets are building their own risk management strategies for trade surveillance, transaction monitoring and AML compliance. This white paper summarizes why banks, platforms, brokers and trading firms will require access to mature surveillance and risk-monitoring solutions such as Eventus’ Validus solution in order […]

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Traders Magazine: Building an Effective Surveillance and Compliance Program For the Digital Asset Market

Originally published by Traders Magazine By Joe Schifano, Global Head of Regulatory Affairs, Eventus Legacy financial regulations assume the existence of intermediaries and asset classes well-defined in legal code. The emergence and growth of digital assets has forced regulators, the traditional financial sector, and the crypto community to discuss new paradigms. The absence of designated

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SEC Proposes New Rules for Short Sale Disclosures and Order Marking Requirements

On February 25, 2022 the SEC proposed new Rule 13f-2 to provide greater transparency through the publication of certain short sale data to investors and other market participants. It also proposed Rule 205, which would establish a new “buy to cover” order marking requirement for certain purchase orders effected by a broker-dealer for its own

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The Canadian Securities Administrators Signals Increased Attention on Cross Market Surveillance

At the end of January, the Canadian Securities Administrators (CSA) announced that the Investment Industry Regulatory Organization of Canada (IIROC) and the Montréal Exchange (MX) have entered into a Memorandum of Understanding (MoU) regarding cross-market surveillance. The primary objective is to “assist in the development, administration, coordination and fulfillment of the cross-market surveillance mandate.” The

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Crypto Regulation in APAC: What to Expect in 2022

By: Vince Turcotte, Director, Digital Assets, APAC Understand the digital asset compliance landscape in the APAC region This white paper dives into the regulatory landscape within top digital asset hubs in Asia including Singapore, Hong Kong and the United Arab Emirates. Read about their latest developments, trends and key approaches to navigating the crypto compliance

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Crypto Regulation Asia – DeFi-CeFi Outlook: Risk, Regulation and the Rise of Decentralised Financial Crime

  In the opening panel of the Crypto Regulation Asia 2022  conference, featured panelists including our Sales Director, Vince Turcotte discuss how crypto markets have been undergoing a period of rapid development and adoption worldwide, with regulators taking notice. It explores the regulatory landscape for crypto markets, the benefits and risks of DeFi, and the

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FINRA Issues Annual Guidance Regarding Compliance Programs

On February 9, 2022, FINRA published the eagerly awaited 2022 Report on FINRA’s Examination and Risk Monitoring Program (the “Report”). The purpose of the Report is to provide firms with information concerning recent examination findings, outline effective practices observed by FINRA during their exams and generally highlight key considerations for firms’ compliance programs. At a

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Necessary Controls to Risk-Manage Cross-Border Trading Practices within FX

On January 27, 2022, the Hong Kong Securities and Futures Commission (SFC) and the Australian Securities and Investments Commission (ASIC) jointly released a circular that detailed their observations following a collaborative thematic review into the governance arrangements and internal controls within the FX business of selected SFC and ASIC licensed firms. The review covered a

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FINRA Issues Notice Regarding the Proper Handling of Marketable Customer Orders

On January 21, 2022, FINRA issued Regulatory Notice 22-04 reminding broker-dealers of the requirements under Rule 5310.01 to execute marketable customer orders fully and promptly.  The definition of what “prompt” means has never been clearly delineated in the rule itself although industry practice, based upon the timing requirements of other order handling-type rules, has been

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