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VIX Manipulation Costs Investors Billions, Whistle-Blower Says; High-Speed Traders Profit From Return of Loophole at CME; Tighter monitoring for computer trading demanded John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The SEC’s 2019 budget request of $1.658 billion is a 3.5 percent increase over 2018. The majority of that extra funding, $45 million, would go to “technology enhancements to support the agency’s cybersecurity capabilities, risk and data analysis, enforcement and examinations, and automation of business processes.”~SD The CFTC’s budget request of $281.5 million for fiscal year 2019 would support 716 full time employees. CFTC Commission Brian Quintenz pointed out that in FY 2016, the agency had 714 full time employees, 689 in 2017 and 670 this year.~JK Economist/Stanford professor/auction theorist Paul Milgrom received…

Correction: NFA and FINRA Do Recognize Other Regulator’s Bans Americas,Blog,Commentary,Investing & Trading,Mwiki,Regulation,Regulation & Enforcement

John Lothian

It turns out that the NFA and FINRA do jointly recognize the bans of other regulators already. In the specific case I mentioned, that of Jon Corzine, he would register if necessary with the SEC. Whether the SEC will recognize the ban of another regulator is a question I am still awaiting an answer. There is a loophole that was expanded by Dodd-Frank that allows hedge funds with less than $150 million to not have to register with the SEC. Tom Sexton of the NFA responded to my inquiry by saying: With regard to your column last week, you should…