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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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CFTC Targets ‘Runaway Robotic Trades’
Outspoken CFTC Commissioner Bart Chilton said that regulators should look for ways to hold traders accountable for market disruptions caused by computer-generated algorithmic trades that run amok - that's occured on more than one occasion this year. “Mini-flash crashes occur all too often” after a surge in high-frequency trading.
The SEC and the CFTC, along with their SROs, have been trying to develop a way to prevent another Flash Crash. The CFTC is scheduled to will announce today new draft rules to clamp down on disruptive trading practices. “They don’t cause as much of a disruption as that of May 6, but more than once this year, runaway algos have disrupted markets. By that I mean, cost people money,” Mr. Chilton said in prepared remarks for an energy conference in Las Vegas. [NYT Dealbook, 10/26]
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