Week of June 1 - 7, 2026

🗓️ June 1, 2026

• IOSCO publishes Final Report on Valuing Collective Investment Schemes, strengthening global standards for fund valuation. IOSCO published its Final Report on Valuing Collective Investment Schemes, updating its recommendations to strengthen the reliability, consistency, and transparency of fund valuation practices. The report focuses on governance, conflicts of interest, valuation methodologies, third-party valuation providers, and investor disclosure, especially as funds increasingly invest in less liquid and harder-to-value assets. The recommendations aim to support a more harmonized and globally consistent framework for fund valuations. 🔗 Read more
• SEC Announces Four New Members of Investor Advisory Committee. Washington D.C. - The Securities and Exchange Commission announced four new members to its Investor Advisory Committee, with three serving four-year terms and one representing senior citizens. These members join nine current members to advise on regulatory priorities and initiatives to protect investors and promote market integrity. The new members include Patrick Daugherty, John Liu, Sheldon L. Ray Jr., and Adriana Z. Robertson. 🔗 Read more
• CFTC Grants Five Whistleblower Awards Totaling Over $8M. Washington - The Commodity Futures Trading Commission announced it is awarding over $8 million to five whistleblowers whose information led to the resolution of a fraudulent scheme. “These whistleblowers reported to the CFTC soon after recognizing the fraud,” said Director of the Whistleblower Office Raagnee Beri. “Their contributions of information and assistance helped the CFTC bring and complete an enforcement action with a substantial recovery of funds for defrauded investors.” 🔗 Read more
• CFTC Implements Technical Enhancements to Streamline Product Self-Certification Process. Washington - The Commodity Futures Trading Commission announced enhancements to its electronic filing system, allowing exchanges to submit a single set of product certification documents for multiple closely related contract certifications. This change aims to streamline the process, reduce unnecessary burdens, and increase efficiency by minimizing duplication. The update supports the goal of eliminating bureaucratic duplication and inefficiency as outlined in Executive Order 14243. 🔗 Read more
• CFTC Chairman Selig Announces Dr. Patrick J. Schorno as Chief Economist. Washington - Commodity Futures Trading Commission Chairman Michael S. Selig announced Dr. Patrick J. Schorno as the agency’s chief economist, tasked with providing economic advice and integrating economic analysis into the CFTC’s mission. Dr. Schorno, who previously served as deputy chief economist at the Public Company Accounting Oversight Board, brings extensive experience in financial regulation and the financial services industry. He holds a Ph.D. in finance from the University of North Carolina at Charlotte and has published research in several prominent finance journals. 🔗 Read more
• FINRA Publishes 2026 Industry Snapshot. Washington - FINRA published its 2026 Industry Snapshot, an annual report offering aggregate data on member firms, registered representatives, and market activity. The report highlights a growing securities industry with registered representatives reaching 639,723 in 2025, a 5% increase since 2021, despite a decline in the number of FINRA member firms due to concentration. Dual registration is now the predominant model, with over half of FINRA-registered representatives maintaining both broker-dealer and investment adviser registration. U.S. stock trading and listed options trading have reached record levels, with significant growth in extended-hours and zero days to expiration options trading. 🔗 Read more
• ESMA publishes latest edition of its newsletter. The European Securities and Markets Authority (ESMA) has released its latest Spotlight on Markets newsletter, highlighting its activities and publications from April and May 2026. The edition features key takeaways from ESMA’s 15th anniversary conference, focusing on integrated and efficient capital markets, and includes updates on EU reporting framework simplification, a stress test for Central Counterparties, and guidance on CCP crisis planning. It also covers a call for evidence on European equity markets, reporting templates for EMIR 3, the Joint Committee Annual Report, enforcement activities, ESEF implementation progress, and upcoming events. 🔗 Read more‍
  

🗓️ June 2, 2026

• Agencies remove additional references to reputation risk. The federal bank regulatory agencies have updated interagency documents to remove references to reputation risk, complementing earlier actions to end its use in supervision. This change aims to prevent misuse of reputation risk by supervisors, ensuring decisions are based on material financial risks and enhancing clarity and precision. The updates are currently limited to removing references to reputation risk, with further reviews and potential updates to other documents ongoing. 🔗 Read more
• SEC Publishes Draft Strategic Plan for Public Comment. Washington D.C. - The Securities and Exchange Commission has published a Draft Strategic Plan aimed at refocusing on its core mission of protecting investors, maintaining fair markets, and facilitating capital formation. SEC Chairman Paul S. Atkins emphasized the importance of adhering to this mission and encouraged public input to ensure the regulatory framework remains robust. The plan outlines three main goals: renewing regulatory policies to support innovation and investor protection, increasing stakeholder engagement and compliance, and optimizing operational efficiency through technology modernization. 🔗 Read more
• The EBA updates list of other systemically important institutions. In 2025, 172 institutions were identified as O-SIIs, with buffer rates ranging from 0.25% to 3%, and the number of identified institutions remained broadly stable compared to 2024. The European Banking Authority (EBA) updated the list based on notifications from national authorities to increase transparency and provide a consistent overview across Member States. The assessment of systemic importance is managed by national competent or designated authorities. 🔗 Read more
• The EBA and the New York State Department of Financial Services sign a Memorandum of Understanding to foster cooperation in the supervision of international stablecoin activities. The European Banking Authority (EBA) and the New York State Department of Financial Services (NYDFS) have signed a Memorandum of Understanding (MoU) under the Markets in Crypto-Assets Regulation (MiCA) to enhance cooperation in supervising cross-border stablecoin activities. The MoU establishes principles for information exchange and coordination of supervisory activities related to stablecoins issued in New York State and the European Union, providing a framework for mutual assistance and crisis coordination. EBA Chair François-Louis Michaud and Acting Superintendent Kaitlin Asrow emphasized the importance of this agreement in strengthening transatlantic cooperation and ensuring high standards for cross-border activities.  🔗 Read more
• The GMTF presents its findings on EU gas and gas derivative markets. The Gas Market Task Force (GMTF) has published a report on the functioning of EU gas and gas derivatives markets, summarizing its analytical work conducted in 2025. The report suggests further work in several areas to ensure that European gas and gas derivatives markets continue performing as expected and to the benefit of European competitiveness and consumers. The GMTF, established in February 2025 under the Action Plan for Affordable Energy, includes the European Commission’s services, ACER, and ESMA. 🔗 Read more
  

🗓️ June 3, 2026

• SEC Obtains Final Judgment in Fraudulent Offering. The U.S. District Court for the Central District of California issued a final judgment against Ross Gregory Erskine in the SEC’s civil enforcement action, finding him guilty of violating federal securities laws through a fraudulent securities offering by LFS Funding Limited Partnership. The Court permanently enjoined Erskine from further violations and soliciting securities transactions, ordering him to pay $60,625 in disgorgement with $15,450.03 in prejudgment interest and a $100,000 civil penalty. The case was managed by Charles Canter and supervised by Stephen Kam of the SEC’s Los Angeles Regional Office. 🔗 Read more
• CFTC Rescinds Policy Regarding Denials of Settlements in Enforcement Actions. Washington - The Commodity Futures Trading Commission has rescinded a policy that required defendants to stop denying allegations in order to settle, aligning with most federal agencies and allowing for more flexible settlements. This change conserves resources, provides certainty, and may expedite the return of money to investors, while recognizing that public interest effects from denials may be minimal. The Commission will no longer enforce existing no-deny provisions but retains discretion in settling with defendants who do not admit facts or liability. 🔗 Read more
• CFTC Staff Issues No-Action Position Related to Designated Contract Market Procedures. Washington - The Commodity Futures Trading Commission’s Division of Market Oversight today announced it has issued a no-action letter to Cboe Digital Exchange, LLC, a designated contract market, which addresses certain procedures related to dormancy. The no-action position is time-limited and subject to the terms and conditions in the letter. 🔗 Read more
• ESAs publish the first report on DORA major ICT-related incidents. The European Supervisory Authorities have published their first annual overview of major ICT-related incidents in the EU financial sector, highlighting the increasing borderless and interconnected nature of ICT risks. The Digital Operational Resilience Act (DORA) aims to harmonize reporting requirements, ensuring faster and more coordinated responses to incidents. The report shows that about one-third of the 3,383 incidents had a cross-border impact, with system failures and external events being the main causes, emphasizing the need for robust third-party risk management. Although only 10% of incidents were cybersecurity-related, maintaining high cybersecurity standards is crucial due to the potential use of AI-driven tools. 🔗 Read more
  

🗓️ June 4, 2026

• SEC Announces New Members of Small Business Capital Formation Advisory Committee. Washington D.C. - The Securities and Exchange Commission announced five new members to the Small Business Capital Formation Advisory Committee, who will serve four-year terms alongside 15 current members. The committee advises the Commission on rules and policies to facilitate capital formation for entrepreneurs, with new members Anya Coverman, Joseph Lucosky, Andrew Prystai, Rodrigo Seira, and Erik Syvertsen bringing diverse experiences. The committee also includes non-voting and observer members from various organizations, providing a broad range of expertise. 🔗 Read more
  

🗓️ June 5, 2026

• SEC Charges Former New York Investment Analyst for Alleged Insider Trading. The Securities and Exchange Commission charged JianQing Li, a former investment analyst, with insider trading in securities of at least twelve healthcare companies from February 2024 through October 2025, using confidential information to trade for personal gain and realizing over $320,000 in illicit profits. The SEC’s complaint, filed in the U.S. District Court for the Southern District of New York, accuses Li of violating antifraud provisions and seeks various penalties, including a permanent injunction and disgorgement. A parallel criminal action was brought by the U.S. Attorney’s Office for the Southern District of New York on June 5, 2026, and the SEC’s investigation was conducted by Kim Han, Janna Berke, and Melissa Coppola. 🔗 Read more
• SEC Files Settled Action as to Real Estate Investment Manager and its President for Allegedly Making Untrue Statements to Retail Investors. The Securities and Exchange Commission filed a settled action against Phoenix American Hospitality, LLC, and its president, William Lee “Perch” Nelson, for allegedly making untrue statements to retail investors about the assets and profitability of two hotel-focused investment funds. PAH and Nelson raised approximately $86 million from over 2,000 investors by falsely claiming one fund owned multiple hotels and both funds made regular profit distributions, when neither was profitable. Without admitting the allegations, they consented to final judgments enjoining them from future violations, with PAH ordered to pay a $591,127 penalty and Nelson a $118,225 penalty, along with a five-year officer and director bar on Nelson. 🔗 Read more
• FDIC Issues List of Banks Examined for CRA Compliance. Washington - The Federal Deposit Insurance Corporation (FDIC) released a list of state nonmember banks evaluated for compliance with the Community Reinvestment Act (CRA) in March 2026. The CRA, a 1977 law, requires the FDIC to assess a bank’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods. Under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Congress mandated public disclosure of CRA examination evaluations and ratings for banks or thrifts examined on or after July 1, 1990. 🔗 Read more