Banking & Finance

ESMA Withdraws MiFID II/MiFIR Market Data Guidelines

The European Securities and Markets Authority (ESMA) has withdrawn its guidelines on MiFID II/MiFIR obligations concerning market data. This action aligns the regulatory framework with new technical standards that entered into force in November 2025, aiming to simplify rules for market participants.

ESMA Consults on CCP Collateral and Investment Policy

The European Securities and Markets Authority (ESMA) has launched a public consultation on proposed changes to central counterparty (CCP) collateral and investment policies, stemming from EMIR 3. The consultation seeks feedback on the acceptance of various guarantees as collateral and the eligibility of debt instruments for CCP investment policies, with a deadline for responses on April 30, 2026.

OSFI Superintendent Discusses Mortgage Regulation and Financial System Resilience

OSFI Superintendent Peter Routledge discussed the future of mortgage regulation, including the retention of stress tests and LTI limits, and OSFI's ongoing regulatory modernization efforts. The speech highlighted OSFI's commitment to adapting its framework based on feedback from regulated institutions.

ESMA Supervisory Briefing on CCP AAR Representativeness Obligation

The European Securities and Markets Authority (ESMA) has issued a supervisory briefing clarifying the representativeness obligation for Central Counterparties (CCPs) regarding their Approved Alternative Arrangements (AARs). This guidance aims to ensure consistent application of the obligation across the EU.

SEC Charges C-Hear, Inc. and Former CEO with Fraud

The SEC charged C-Hear, Inc. and its former CEO, Adena Harmon, with securities fraud in connection with a $4.2 million stock offering. The complaint alleges misleading statements about the company's technology and concealment of Harmon's criminal convictions, as well as misappropriation of investor funds.

California DFPI Enforcement Actions Summary - January 2026

The California Department of Financial Protection and Innovation (DFPI) issued a summary of enforcement and non-enforcement actions taken in January 2026. These actions include citations, desist and refrain orders, consent orders, and accusations related to violations of financial laws, including mortgage lending and securities regulations.

ESMA Supervisory Briefing on AAR Representativeness Obligation

The European Securities and Markets Authority (ESMA) has published a supervisory briefing clarifying expectations for counterparties regarding the active account requirement (AAR) representativeness obligation. The briefing provides guidance on identifying relevant subcategories, reporting trades, and includes an example of compliance.

SEC Obtains Default Judgment Against Bluesky Eagle Capital Management Ltd

The SEC has obtained a final default judgment against Bluesky Eagle Capital Management Ltd. for making misrepresentations in its Form ADV filing. The judgment includes a permanent injunction and a civil penalty of $1,182,254.

SEC v. Cutter Financial Group, LLC and Jeffrey Cutter - Investment Adviser Fiduciary Duty Breaches

The SEC announced a final judgment against investment adviser Jeffrey Cutter and Cutter Financial Group, LLC for breaches of fiduciary duties. The judgment orders civil penalties totaling $150,000 and requires client notification and injunctions against future violations.

SEC charges North Texas brothers in real estate fraud

The SEC has charged two brothers and their companies in North Texas for allegedly conducting a real estate offering fraud, raising over $12 million through misrepresentations. The SEC seeks permanent injunctions, disgorgement, and civil penalties.