Week of June 15 - 21, 2026

🗓️ June 15, 2026

• SEC Obtains Judgment as to Gerard Ryan for Alleged Insider Trading. The U.S. District Court for the Southern District of New York entered a bifurcated consent judgment against Gerard Ryan for insider trading in Kadmon Holdings, Inc. securities ahead of the FDA’s approval announcement on July 16, 2021. Ryan allegedly bought 16,480 shares, generating $9,260 in profits, and tipped a friend, leading to a parallel criminal action where he pled guilty to securities fraud. The SEC’s investigation, conducted by the Market Abuse Unit, is being led by Elisa S. Solomon and others, with the judgment reserving monetary relief for future determination. 🔗 Read more
• SEC Files Settled Action as to Former Investment Advisory Firm Employee Charged with Insider Trading. The Securities and Exchange Commission filed a settled action against Rakesh Ahuja, a former employee of an investment advisory firm, for allegedly insider trading using confidential information obtained during his employment. Ahuja allegedly breached his duty by trading through a relative’s brokerage account based on nonpublic information, resulting in approximately $65,000 in profits. Without admitting the allegations, Ahuja consented to a final judgment, agreeing to be enjoined from certain activities and to pay disgorgement, interest, and a civil penalty totaling $143,097.51. 🔗 Read more
• CFTC Chairman Selig Announces Senior Staff Appointments. Washington - Commodity Futures Trading Commission Chairman Michael S. Selig announced two senior staff appointments: Donald Battle as Chief Data Innovation Officer and J Matthew Haws as Senior Advisor and Chicago Regional Administrator. Battle, with expertise in data science and blockchain forensics, joins from the SEC and will contribute to innovation at the CFTC, while Haws, with over 13 years of experience in derivatives markets, will enhance the agency’s Chicago office and support market integrity. 🔗 Read more
• EIOPA publishes its 2025 Annual Report. The European Insurance and Occupational Pensions Authority (EIOPA) published its Annual Report for 2025, highlighting its efforts to maintain the stability and sustainability of the European financial system amidst geopolitical instability, AI advances, and cyber threats. Key achievements included supporting the Savings and Investments Union, promoting regulatory simplification, and enhancing financial stability. EIOPA also defined a new strategy focusing on strengthening the Single Market, enhancing resilience, and simplifying supervision to protect consumers’ rights and foster public trust. 🔗 Read more
  

🗓️ June 16, 2026

• SEC Settles Litigation with Texas Resident Charged with Insider Trading. The Securities and Exchange Commission filed a complaint against Bruce Cameron Conway, alleging insider trading involving a biotechnology firm’s merger with Cancer Genetics. Conway, without admitting the allegations, consented to a final judgment that includes a permanent injunction and payments totaling $240,819.56. The SEC’s litigation and investigation were led by John Dwyer and others, with assistance from the Financial Industry Regulatory Authority. 🔗 Read more
• CFTC Issues a Request for Information to Facilitate Innovation and Competition for Fintech Firms. Washington - The Commodity Futures Trading Commission issued a Request for Information to identify CFTC regulatory items that hinder fintech firms from partnering with federally regulated institutions and to find items that could be amended to streamline application processes. This initiative supports compliance with Executive Order 14405 and aims to update regulatory items to promote innovation and competition for fintech firms. The comment period will last 21 days after publication in the Federal Register. 🔗 Read more
• The EBA publishes its 2025 Annual Report outlining key achievements. The European Banking Authority (EBA) published its 2025 Annual Report, highlighting its achievements in streamlining the EU regulatory framework and expanding its supervisory role under the Digital Operational Resilience Act (DORA) and Markets in Crypto-Assets Regulation (MiCA). Key accomplishments include enhancing the Single Rulebook, confirming banking system resilience through a stress test, advancing data integration and ESG analytics, and assuming new supervisory responsibilities in digital finance. Additionally, the EBA focused on consumer protection, supervisory convergence, and supported major legislative initiatives. 🔗 Read more
• The EBA proposes simplifications to the EU bank capital framework in a holistic manner to strengthen its efficiency. The European Banking Authority (EBA) has published a comprehensive review of the EU bank capital framework, proposing simplification measures to reduce complexity while maintaining banks’ resilience and authorities’ tools. The recommendations include simplifying the microprudential, macroprudential, and resolution stacks by clarifying roles, removing unnecessary considerations, and combining buffers, all while adhering to international standards and ensuring proportionality. The Report emphasizes the importance of consistency, predictability, and effectiveness in the regulatory framework, without advocating for a fundamental redesign. 🔗 Read more
• Monitoring Group Invites Applications to the Public Interest Oversight Board. The Monitoring Group has issued an open call for applications for board members to serve on the Public Interest Oversight Board (PIOB), with an initial term commencing on or before 1 January 2027. The PIOB oversees the IAASB and IESBA standard-setting process to ensure that international audit, assurance, ethics, and independence standards are responsive to the public interest. Applications are open until 31 July 2026, with the selection process focused on leadership, expertise, and a broad range of backgrounds and experiences. 🔗 Read more
  

🗓️ June 17, 2026

• Federal Reserve Board and Federal Open Market Committee release economic projections from the June 16-17 FOMC meeting. The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the June 16-17 meeting. 🔗 Read more
• Federal Reserve issues FOMC statement. The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent to support the Federal Reserve’s dual mandate and reaffirmed its policy of maintaining ample reserves in the banking system. Economic activity is expanding at a solid pace despite elevated uncertainty, with strong productivity growth, capital investment, and job gains keeping pace with the workforce. Inflation remains elevated relative to the Committee’s 2 percent goal, partly due to supply shocks, but the Committee is committed to delivering price stability. 🔗 Read more
• CFTC Staff Issues No-Action Letter for Swap Post-Trade Risk Reduction Services. Washington - The Commodity Futures Trading Commission’s Divisions have taken no-action positions regarding a request from Capitolis Partners LLC, Quantile Technologies Limited, and TriOptima AB, which offer post-trade risk reduction services for swaps. The letter provides no-action relief for not registering as swap execution facilities, as they are registered as introducing brokers, and clarifies that their services do not meet the definition of a publicly reportable swap transaction. The no-action letter is time-limited and subject to specific terms and conditions. 🔗 Read more
• FINRA Expels Reid & Rudiger, Bars Cofounders. Washington - FINRA has expelled Reid & Rudiger LLC and barred its cofounders, Clifford Reid and Edward Rudiger, Jr., from association with any member firm for churning and excessively trading customer accounts, violating Regulation Best Interest and FINRA rules. The firm’s supervisors, Marc Harrison and Kelli Mezzatesta, were suspended for three months, fined $5,000 each, and required to complete 20 hours of continuing education for failing to address the misconduct, which resulted in approximately $2 million in commissions and trading costs and $2.7 million in customer losses over six years. 🔗 Read more
• FSI and IAIS publish note on the cyber insurance market. The Financial Stability Institute (FSI) and the IAIS have published a joint Insights note on the cyber insurance market, highlighting the growing threat of cyber risks to economic and financial stability due to technological advances and geopolitical tensions. Despite the potential of cyber insurance to support resilience and mitigate financial losses, coverage remains limited, with challenges in coverage ambiguity, pricing, and accumulation risk. The note provides an overview of how frontier AI models may transform the cyber threat landscape and offers insights into the evolving cyber insurance landscape, including product coverage, pricing, underwriting practices, and the insurance protection gap. 🔗 Read more
• ESMA 2025 Annual Report: focus on stronger supervision, regulatory simplification, and innovation. The European Securities and Markets Authority (ESMA) published its Annual Report for 2025, highlighting progress in strengthening EU financial markets through enhanced supervision, regulatory simplification, and innovation. Key achievements included the implementation of major legislative frameworks like MiCA, DORA, and EMIR 3, progress on the T+1 settlement cycle, and the selection of consolidated tape providers, all contributing to more integrated, transparent, and competitive EU markets. ESMA also focused on sustainable finance, regulatory simplification, and digital innovation, reinforcing the resilience of the EU financial system and promoting transparency and investor protection. 🔗 Read more‍
  

🗓️ June 18, 2026

• Federal Reserve Board issues enforcement action with former employee of Bank of Eufaula and S N B Bancshares, Inc. The Federal Reserve Board announced that Thomas Engelbrecht is prohibited from future participation in the banking industry and fined him $125,000. Engelbrecht, the former CEO of Bank of Eufaula and director of the bank and its holding company, S N B Bancshares, Inc., misused his position to secure imprudent credit extensions for his relative’s company and was involved in fabricating board meeting minutes. 🔗 Read more
• Federal Reserve Board issues enforcement action with former employee of Manufacturers and Traders Trust Company. The Federal Reserve Board announced a consent prohibition order against Matthew Cheong, a former employee of Manufacturers and Traders Trust Company, for embezzlement by a bank employee. 🔗 Read more
• Federal Reserve Board requests comment on proposal to require certain payment stablecoin issuers to maintain an effective customer identification program. The Federal Reserve Board, along with four other agencies, has proposed requiring certain payment stablecoin issuers to implement an effective customer identification program, similar to those for banks and credit unions. Comments on this proposal are due 60 days after its publication in the Federal Register. 🔗 Read more
• SEC, CFTC Seek Public Comment to Further Clarify and Harmonize Derivatives Product Definitions. Washington D.C. - The Securities and Exchange Commission and the Commodity Futures Trading Commission have issued a joint request for public comment to update and clarify derivatives product definitions and interpretive issues. This initiative aims to address longstanding ambiguities within Title VII of Dodd-Frank, promoting fair competition and innovation. The public comment period is open for 60 days following the request’s publication in the Federal Register. 🔗 Read more
• SEC, CFTC Seek Public Input on Data Reporting Frameworks for Security-Based Swap and Swap Markets. Washington D.C. - The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have issued a joint request for public comment on harmonizing, modernizing, and streamlining data reporting requirements in the security-based swap and swap markets. The agencies aim to enhance market transparency, reduce operational complexity, and improve regulatory oversight while maintaining their distinct statutory mandates under the Dodd-Frank Act. The public comment period is open for 60 days following the request’s publication in the Federal Register. 🔗 Read more
• CFTC Resolves Action Against Celsius Founder. Washington - The Commodity Futures Trading Commission announced a consent order resolving its 2023 enforcement action against Alexander Mashinsky, founder and former CEO of Celsius Network LLC, imposing permanent trading and registration bans and enjoining him from further violations of anti-fraud provisions. The complaint alleged that Mashinsky and Celsius defrauded customers by misrepresenting the safety and profitability of their digital asset platform, leading to devastating losses and eventual bankruptcy after receiving approximately $20 billion in funds. Mashinsky pled guilty to commodities and securities fraud in December 2024 and was sentenced to 12 years in prison in May 2025. 🔗 Read more
• EU/EEA banks remain resilient amid rising geopolitical, market and technological risks. The European Banking Authority’s Spring 2026 Risk Assessment Report indicates that EU/EEA banks are strong, with solid capital, liquidity, asset quality, and profitability, despite challenging and rapidly evolving risks. These risks include geopolitical tensions, operational and cyber threats in a digital environment, and increased interconnectedness with non-bank financial institutions and the private sector. The report emphasizes the need for continued vigilance and strong operational resilience to navigate these challenges. 🔗 Read more
• The EBA publishes its annual assessment of banks’ internal approaches for capital requirements calculation. The European Banking Authority (EBA) published its 2025 Reports on market and credit risk benchmarking, showing progress in the consistency and reliability of banks’ internal models across the EU. The reports highlight stable market risk metrics and improved data quality, with the Internal Model Approach (IMA) and Alternative Standardised Approach (ASA) providing enhanced transparency. While the IMA shows improved data quality for Initial Market Valuation, variability remains in stressed VaR and Incremental Risk Charge, whereas the ASA demonstrates increased stability and consistency, particularly in the Sensitivities-Based Method. 🔗 Read more
• IOSCO publishes Report on Supervisory Technology (SupTech). IOSCO has published a Report on Supervisory Technology (SupTech), based on a survey of 49 jurisdictions on the current and expected future use of SupTech tools for supervision and regulatory oversight. Authorities are increasingly integrating SupTech into core supervisory functions, with artificial intelligence, data access, and cloud infrastructure seen as critical enablers, while consumer and investor protection and capital markets supervision remain the most developed areas of application. The report also highlights funding gaps, cyber risks, resource constraints, and the need for more structured long-term workforce planning to support further SupTech adoption. 🔗 Read more
  

🗓️ June 19, 2026

• ESMA contributes to global CCP fire drill exercise. In November 2025, 38 central counterparties and clearing members conducted the CCP Global International Default Simulation (CIDS) to simulate the failure of a hypothetical common participant, aiming to enhance preparedness and coordination. The report published by the lead authorities, including ESMA, Bundesbank, BaFin, the Commodity Futures Trading Commission, and the Bank of England, summarizes the exercise outcomes and provides feedback and recommendations for future improvements. Key areas for progress include reducing procedural fragmentation, enhancing porting arrangements, and considering a voluntary “market stress overlay” module to test operational capacity under stressed market conditions. 🔗 Read more