Week of June 8 - 14, 2026

🗓️ June 8, 2026

• SEC Establishes Joint Data Standards as Required Under the Financial Data Transparency Act of 2022. Washington D.C. - The U.S. Securities and Exchange Commission established joint data standards under the Financial Data Transparency Act of 2022, with eight additional agencies expected to adopt them. These standards aim to enhance interoperability by using common identifiers for entities, locations, dates, and certain products and currencies, easing data collection burdens for financial institutions and improving accessibility for investors. The standards also include a principles-based approach for data transmission and schema formats, enabling high-quality, machine-readable data submissions. 🔗 Read more
• SEC Charges Chicago Man and His Companies in Alleged Multi-Million Dollar Investment Fraud. The Securities and Exchange Commission charged John Sterling Myers and his companies, Sterling Capital, LLC and Sterling Capital Management, LLC, with a multi-year fraud involving misappropriating investor money and falsifying account statements. From January 2022 through at least July 2025, Myers allegedly operated a “premier” investment pool, raising approximately $4 million from 28 investors, while secretly draining over $3.6 million through unsuccessful trading and personal spending. Myers is accused of sending fabricated account statements, failing to issue tax forms, and misappropriating at least $1.8 million for personal expenses. The SEC’s complaint, filed in the U.S. District Court for the Northern District of Illinois, seeks permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties, with the investigation led by the SEC’s Chicago Regional Office. 🔗 Read more
• CFTC Establishes Joint Data Standards as Required Under the Financial Data Transparency Act of 2022.  Washington - The Commodity Futures Trading Commission established joint data standards under the Financial Data Transparency Act of 2022, with eight additional agencies expected to adopt them. These standards aim to enhance interoperability by using common identifiers for entities, locations, dates, and certain products and currencies, reducing costs for firms and improving data quality for regulators. Chairman Michael S. Selig highlighted the importance of these standards in addressing the inefficiencies caused by inconsistent data reporting requirements across multiple federal agencies. 🔗 Read more
• The EBA launches Discussion Paper on Pillar 3 Data Hub for small banks. The European Banking Authority (EBA) has published a Discussion Paper proposing a simplified process for small and non-complex institutions (SNCIs) to implement the Pillar 3 Data Hub (P3DH), aiming to reduce their operational burden by collecting and publishing Pillar 3 disclosures on their behalf. The paper outlines the methodology for these calculations and highlights the benefits of improved transparency and accessibility of data. Additionally, the EBA released a new P3DH FAQ and IT solutions for large and other institutions, clarifying the nomination of contact persons for automatic notifications upon publication. 🔗 Read more
  

🗓️ June 9, 2026

• Federal Reserve Board announces that results from its annual bank stress test will be released on Wednesday, June 24, at 4 p.m. EDT. The Federal Reserve Board announced that the results of its annual bank stress test will be released on Wednesday, June 24, at 4 p.m. EDT. This year’s test involved 32 large banks and assessed their resilience under a hypothetical severe global recession scenario, focusing on commercial and residential real estate, as well as corporate debt markets. The results will not affect large bank capital requirements, as the Board plans to maintain current stress test capital buffer requirements until 2027. 🔗 Read more
  

🗓️ June 10, 2026

• CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Event Contracts Involving Enumerated Activities. Washington - The Commodity Futures Trading Commission has published a Notice of Proposed Rulemaking to seek public comment on amendments to CFTC Regulation 40.11 and the addition of Appendix F to part 40. The proposal aims to establish a structured framework for evaluating event contracts, such as those referencing sporting events, to determine if they involve activities prohibited under the Commodity Exchange Act and whether they are contrary to the public interest. It includes a 90-day review process and defines key statutory terms, ensuring procedural protections and allowing legitimate markets to progress. 🔗 Read more
  

🗓️ June 11, 2026

• Federal Reserve Board announces final rule that establishes data standards for certain information collections. The Federal Reserve Board announced a final rule establishing data standards for information collections submitted to financial regulatory agencies, approved by several other federal agencies. These standards aim to enhance interoperability by setting data standards for identifiers of legal entities and other elements, reflecting feedback from the public since the August 2024 proposal. This initiative is part of implementing the Financial Data Transparency Act of 2022. 🔗 Read more
• SEC Proposes Rescission of Regulation NMS Rules 611 and 610(e). Washington D.C. - The Securities and Exchange Commission proposed amendments to rescind Rules 611 and 610(e) of Regulation NMS, aiming to simplify market structure and reduce costs for market participants. These changes would eliminate the trade-through prohibition and restrictions on locking and crossing quotations, with a 60-day public comment period following the proposal’s publication in the Federal Register. SEC Chairman Paul S. Atkins emphasized the need to review the unintended consequences of Rule 611 to foster long-term market growth. 🔗 Read more
• SEC Charges North Carolina Resident and Utah Attorney in Alleged Fraudulent Stock Scheme. The Securities and Exchange Commission filed charges against Charles J. Cole, his lawyer Torben M. Welch, and three entities controlled by Cole for allegedly defrauding Infinite Reality, Inc. out of 239 million shares by falsely promising a $3.36 billion investment and misrepresenting asset control. The SEC seeks permanent injunctions, disgorgement with interest, and civil penalties, while the U.S. Attorney’s Office has announced parallel criminal charges against Cole. The investigation is ongoing, with assistance from the U.S. Attorney’s Office and the U.S. Postal Inspection Service. 🔗 Read more
• CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Whistleblower Rules. Washington - The Commodity Futures Trading Commission has published a Notice of Proposed Rulemaking to amend its whistleblower rules, introducing a 30 percent presumption for awards of $5 million or less, subject to discretion and regulatory analysis. This proposal aligns with the SEC’s rule 21F-6(c) to enhance harmonization between the two Commissions, aiming to improve the efficiency, transparency, and predictability of processing whistleblower award claims. The comment period will last 30 days after publication in the Federal Register, with submissions available via Regulations.gov. 🔗 Read more
• Report From FINRA Board of Governors Meeting – June 2026. FINRA’s Board of Governors met on June 3-4 and approved four rule proposals and its 2025 Annual Financial Report, reflecting feedback from the FINRA Forward rule modernization initiative aimed at improving investor protection and market integrity. The approved proposals include making the Remote Inspections Pilot Program permanent, modernizing supervision and non-branch location requirements, adjusting continuing education requirements, and modernizing corporate financing rules, all designed to reduce regulatory burdens and costs while maintaining robust protections. The Board also received briefings on various programs, including enforcement, technology modernization, ethics, compliance, and cybersecurity, and heard from SEC Chairman Paul Atkins on industry issues. 🔗 Read more
• The EBA launches early consultation on simplified EU-wide stress test, with climate risk integration. The European Banking Authority (EBA) has published the draft methodology, templates, and guidance for the 2027 EU-wide stress test, which introduces significant simplifications to improve efficiency and risk sensitivity. Key changes include a 55% reduction in data requirements by aligning with harmonised supervisory reporting, the integration of climate risks, and an earlier industry consultation to enhance banks’ preparedness. The stress test will involve 63 banks from the EU and Norway, covering 75% of the EU banking sector, and climate risks will be assessed through a dedicated module without affecting core results. 🔗 Read more
  

🗓️ June 12, 2026

• SEC Appoints John Moses as Director of the Office of Investor Education and Assistance. Washington D.C. - The Securities and Exchange Commission has appointed John Moses as Director of the Office of Investor Education and Assistance, a role he has been acting in since 2020. Mr. Moses, who joined the SEC in 2016, has held various positions, including Managing Executive in the Office of the Chairman, and brings extensive experience in investor outreach and education. SEC Chairman Paul S. Atkins praised his communication skills and passion for investor education, emphasizing its importance to the agency’s mission. 🔗 Read more
• SEC Obtains Default Judgment Against Santos Kidd for Role in Alleged Fraudulent Real Estate Investment Scheme. The U.S. District Court for the Western District of Texas entered a final judgment by default against Santos Kidd for his role in a fraudulent mobile-home investment scheme involving Chimene Van Gundy and her company, Outstanding Real Estate Solutions, Inc. (ORES). Kidd, who distributed ORES materials and misrepresented his commission earnings, is permanently enjoined from violating antifraud and broker registration provisions and ordered to pay a total monetary judgment of $607,779.12. The SEC’s litigation is being handled by the staff of the SEC’s Fort Worth Regional Office. 🔗 Read more
• SEC Obtains Final Judgment as to Former Registered Representative Charged with Defrauding Customers. The United States District Court for the Northern District of Texas issued a final judgment against Rajesh Markan, following the SEC’s civil enforcement action. Markan was found guilty of soliciting approximately $2.9 million from brokerage customers for a fake private equity fund, falsely claiming association with a New York firm and misappropriating the funds. The judgment permanently enjoins him from securities violations and orders him to disgorge $2,305,025, with restitution in a parallel criminal case deemed satisfactory. 🔗 Read more
• CFTC Issues No-Action Letter for DCMs Converting Existing Perpetual-Style Digital Commodity Futures into True Digital Commodity Perpetual Futures. Washington - The Commodity Futures Trading Commission’s Division of Market Oversight has issued no-action relief to designated contract markets for converting perpetual style digital commodity futures contracts into true digital commodity perpetual futures. This follows recent Commission actions clarifying the regulatory treatment of true perpetual futures contracts. DCMs can remove expiration dates and implement these amendments upon meeting certain customer protection and procedural conditions, such as soliciting feedback, providing advance notice, offering risk disclosures, and ensuring no other material contract terms are modified. 🔗 Read more
• CFTC Sues New Mexico as the State Becomes the Latest Attempting to Infringe on Federal Jurisdiction. Washington - The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against New Mexico to block the state’s application of gaming laws on CFTC-registered contract markets. This action follows New Mexico’s lawsuit against KalshiEX LLC, claiming its prediction markets are unlawful online sports betting. The CFTC seeks a declaratory judgment affirming its exclusive authority over event contracts and a permanent injunction against New Mexico’s enforcement of state laws, emphasizing its longstanding jurisdiction under the Commodity Exchange Act. 🔗 Read more