The SEC is proposing significant updates to transfer agent rules that have remained largely unchanged since 1986. These changes aim to modernize securities infrastructure by improving transparency, streamlining reporting for fund handling, and aligning regulations with current electronic transaction standards like T+1 settlement.
The SEC is proposing updates to rules and forms for registered transfer agents to better accommodate modern electronic recordkeeping and communication technologies. Compliance teams should prepare for changes in how market intermediaries manage data and documentation.
The Financial Conduct Authority (FCA) has established a dedicated Scale-up Unit to assist fast-growing firms in navigating complex regulatory hurdles during expansion phases. For compliance teams, this provides a structured pathway for discussing product innovations and policy impacts while maintaining high regulatory standards.
The SEC is proposing significant updates to transfer agent rules to modernize the regulatory framework for tokenized securities and combat microcap fraud. Compliance teams must prepare for a shift toward accommodating digital identifiers and enhanced anti-fraud measures within the securities ecosystem.
The Financial Conduct Authority has introduced new rules (COCON 1.1.7FR) and guidance (PS25/23) to address non-financial misconduct, such as bullying and harassment. Compliance teams must now integrate these broader conduct definitions into their internal policies and "fit and proper" assessment frameworks to mitigate reputational and operational risks.
Finland’s Financial Supervisory Authority (FIN-FSA) has published updated principles on October 1 for determining the size of penalty payments and administrative fines. The principles themselves are not new. The authority published an earlier version in 2022, and the latest changes largely put greater precision around practices that have since become established.
The Czech Office for the Protection of Competition has imposed fines totaling approximately $89.7 million (CZK 1.942 billion) on four companies after finding that six cable manufacturers coordinated the calculation of a “metal surcharge” used in the pricing of telecommunications and power cables containing copper or aluminum. It is a record fine for the Office. The decision, announced Oct. 1, is not yet final, and the parties can appeal to the Chairman of the Office.
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