In an increasingly digital sector with divergent rule sets, the ability to manage the global compliance deltas in complex senior management accountability rules  is fast becoming a critical differentiator for senior management seeking to work across borders.   As we summarized in our latest Beacon, JWG’s surveillance community has covered quite a patchwork of regulatory obligations


The European Securities and Markets Authority (ESMA) will look at potential risks in neo-brokers’ business models after MEPs raised concerns about payment for order flow (PFOF), short selling and market abuse. Tuesday’s ECON session at the European Parliament was dedicated to discussing the GameStop market event and its impact on EU markets. Steven Maijoor, ESMA’s


As we summarized in our latest Beacon, JWG’s surveillance community has covered quite a patchwork of regulatory obligations over the past 2. In all that time, nothing has pulled all into focus like GameStop. JWG has been digging beyond the broadsheet news to examine what roars from Reddit chat groups will mean to wholesale and


Many UK firms are far from fully compliant with the Market Abuse Regulation ( MAR) applied in July 2016, requiring the Financial Conduct Authority (FCA) to continue its supervisory visits to check firms’ progress. More than four years into the regime, FCA supervisors still find basic flaws in firms’ systems and controls, including poorly calibrated


The European Securities and Markets Authority’s (ESMA) extensive proposed guidance to the Market Abuse Regulation (MAR) could force the UK Financial Conduct Authority (FCA) to make some early decisions to diverge from the regime. “One of the questions is what does the FCA really think about the MAR review? This is where the rubber begins


Key surveillance takeaways from the MAR review

In Partnership with:

By PJ Di Giammarino and Sam Tyfield, Partner, Shoosmiths. The MAR review report was finally released on 23 September and clocked in at 276 pages. It raises a number of key issues for senior management at financial institutions, already struggling to form a holistic view of their communications surveillance obligations under COVID. The extensive review


Sabre rattling: Trade surveillance, RegTech and COVID obligations

In Partnership with:

By Sam Tyfield, Partner, Shoosmiths. On 12 October, a speech by Julia Hoggett, FCA’s Director of Market Oversight, was published here. She speaks of having “rattled [her] sabre” about market abuse and surveillance. She started with some good news; activity the FCA regards as abusive, manipulative or insider dealing has not changed, so far as


The State of Holistic Trade Surveillance – JWG research published 

In Partnership with:

By PJ Di Giammarino Over the past few years, financial services firms have been investigating how to improve trade-related surveillance capabilities and techniques. Expectations from regulators and senior management have been placed under the microscope, mainly due to high surveillance noise levels across all communication channels and asset classes. In tracking this evolution of technologies