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Takeaways for In-House Counsel from the SEC’s “Shadow Insider Trading” Trial

JD Supra: Mergers

On April 5, 2024, a jury in California federal court found a former corporate executive liable for insider trading in SEC v. Panuwat, a novel enforcement action involving a theory known as “shadow trading.” In Panuwat, the U.S.

Trading 185
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FIS acquires post-trade platform Torstone Technology

The TRADE

Fintech giant FIS has acquired SaaS post-trade platform Torstone Technology, according to multiple sources close to the matter. Some of its major recent mandates include a 10-year agreement to provide post-trade technology to BNP Paribas and $1.5

Trading 109
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Coinbase’s digital finance trading head returns to State Street as automation, analytics and platform services lead

The TRADE

Delikaris rejoins the firm from Coinbase, where he most recently served as head of digital finance trading. Previously, he served as State Street’s global head of algorithmic trading, securities finance. Welcome back to State Street, Nick!”

Finance 104
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Bank of England and FCA to launch joint Digital Securities Sandbox

The TRADE

The Bank of England (BoE) and the UK Financial Conduct Authority (FCA) are working together to operate a new Digital Securities Sandbox (DSS) – a regime that will allow firms to use developing technology in the issuance, trading and settlement of securities.

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Expansion of US equity options consolidated tape go live delayed

The TRADE

Speaking to The TRADE, David Taylor, chief executive of trading infrastructure provider, Exegy, explained: “That’s an enormous amount of data. In terms of how prepared the market is for such a move, Taylor told The TRADE: “I think most firms are prepared or preparing as well as they can.

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People Moves Monday: Weekly round up

The TRADE

Citi appointed Leo Arduini as interim head of FX, effectively immediately, according to an internal memo seen by The TRADE. According to the internal memo seen by The TRADE, the bank is conducting a search for a permanent head of FX, with the expectation to fill the position in the coming weeks.

Trading 62
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Unpacking the 20 most impact financial regulations from the last 20 years

The TRADE

The importance of these rules can be linked to the reshaping of the regulatory environment and ultimately creating a more robust trading environment and promoting investor confidence. A key objective of the regulation was to increase market transparency through the promotion of regulated trading venues and encouraging price discovery.