Bridging the Week by Gary DeWaal: July 10 to 14 and July 17, 2017 (Regulators Kumbaya; Reviewing Swap Data Reporting; Recordkeeping; Insider Trading)

Published Date: July 17, 2017

In an inaugural-type speech last week, Jay Clayton, newly appointed Chairman of the Securities and Exchange Commission, advocated for kumbaya with other regulators, particularly with the Commodity Futures Trading Commission. Mr. Clayton singled out working with the CFTC in order to achieve greater harmonization of rules required under Dodd-Frank, as well as to reduce unwarranted complexity and costs to both market participants and the two agencies. Separately, the Financial Industry Regulatory Authority settled more disciplinary actions for the alleged failure of  broker-dealers to fully comply with the SEC’s current recordkeeping requirements related to electronic brokerage records. The requirements are the same obligations that the CFTC is eliminating effective August 28 for being antiquated and not accommodating new technologies. As a result, the following matters are covered in this week’s edition of Bridging the Week:

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Gary DeWaal

Gary DeWaal is currently Special Counsel with Katten Muchin Rosenman LLP in its New York office focusing on financial services regulatory matters. He provides advisory services and assists with investigations and litigation.

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Gary DeWaal
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