FiSolve Weekly News Digest: July 3, 2026

Here is what we are reading in the news this week...

SEC Sanctions Broker-Dealer for Widespread Inaccurate Trading Data Reporting

The SEC instituted and settled administrative proceedings against a broker-dealer for repeatedly submitting incomplete and inaccurate electronic blue sheet data to regulators over a multi-year period, impairing the agency’s ability to oversee markets and conduct investigations. From March 2018 through December 2023, the firm made over 19,000 deficient submissions affecting at least 51.8 million transactions, with errors stemming largely from coding and system issues that led to omitted trades, incorrect transaction details, and misclassified activity. The SEC found these failures violated federal recordkeeping and reporting requirements, which mandate accurate and complete transaction data reporting. The SEC order notes the firm undertook remedial measures, such as improving validation tools, enhancing compliance oversight, and self-reporting certain issues. The SEC censured the firm, ordered it to cease and desist from further violations, and required it to pay a $1.9 million civil penalty as part of a settlement. Read more here.

SEC, CFTC Orders Two Foreign Firms to Pay $2.5 Million for Illegal Off-Exchange Transactions with U.S. Customers

The Commodity Futures Trading Commission announced an order filing and settling charges against two foreign firms for facilitating illegal off-exchange leveraged or margined retail commodity transactions involving U.S. customers who were not eligible contract participants. The order includes $2.5 million in combined penalties. Each firm must also cease-and-desist from the unlawful conduct. The Securities and Exchange Commission announced the filing and settling of charges against the two firms based on the same underlying conduct. Read more here.

Fully Remote Companies Are Hiring

Fewer Entry-Level Workers

The Wall Street Journal is reporting that fully remote companies are increasingly hiring fewer entry‑level workers because remote work makes training, mentoring, and supervising inexperienced employees more challenging. This is leading employers to favor candidates with more experience and who can work independently from day one. The article cites research showing that as remote roles have expanded, qualification requirements have risen. Early‑career hiring, however, has declined with companies seeking workers who already have skills instead of investing in developing them. This shift is contributing to fewer opportunities for recent graduates and young professionals, widening the gap between entry‑level and experienced workers and making it harder to get a first job in remote-friendly fields. Read more here.

SEC Seeks Public Comment on

Novel Exchange-Traded Funds

The Securities and Exchange Commission issued a request for public comment on exchange-traded funds (ETFs) seeking to invest in innovative asset classes or engage in novel investment strategies. The request focuses on ways to facilitate innovation in the ETF space while protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation. In its press release, the SEC recognizes ETFs have grown from $4 trillion in 2019 to over $12 trillion at the end of 2025. The comment period is open for sixty days. Read more here.

Individual Pleads Guilty in Securities Spoofing Case

The Department of Justice announced a California man pleaded guilty to engaging in more than 3,000 instances of manipulative trading and spoofing during a years-long scheme to manipulate the securities markets. Spoofing is a manipulative trading tactic of placing a non-bona fide order, with the intent to cancel the order before it is executed, to give the false appearance of genuine supply or demand to other investors and move the price in the spoofer’s favor. The individual pleaded guilty to one count of using interstate commerce for the purpose of securities fraud and agreed to forfeit over $1.3 million in securities fraud proceeds. The man is scheduled to be sentenced on Sept. 30 in the Northern District of California and faces a maximum penalty of five years in prison. Read more here.

Agencies Finalize Financial Data Transparency Act (FDTA) Data Standards

A coalition of federal financial regulators—including the OCC, Federal Reserve, FDIC, CFPB, SEC, CFTC, NCUA, FHFA, Treasury, and others—issued a final joint rule establishing uniform data standards under the Financial Data Transparency Act of 2022. The rule adopts common identifiers and standards for regulatory data to improve interoperability and machine readability across agencies. Importantly, the rule itself does not immediately change reporting requirements but creates the framework that future regulatory reporting will use. Read more here.

FCA Sets Landmark Crypto Rules 

The Financial Conduct Authority announced new rules applicable to firms designed to support people in buying, trading and holding crypto. All firms must meet financial resilience requirements including capital and stress testing. The FCA is also introducing new market integrity rules covering areas such as insider trading and market manipulation. The new framework also sets out specific rules for stablecoins, a type of cryptoasset designed to maintain a stable value, typically by being linked to a currency such as the pound. Stablecoins will be subject to clear, strong and transparent standards, helping to build trust in how they are used over time. Read more here.

FCA to Simplify Investment Disclosure Regime

The Financial Conduct Authority (FCA) is proposing to simplify how platforms, advisers and wealth managers communicate the costs of investing while reminding firms to communicate with consumers about investing in plain English. The proposals are designed to allow firms to innovate, test and compete to inform and engage retail investors, communicate clearly in plain English, not jargon and give information in engaging ways. This will also help consumers compare products more easily and invest with greater confidence, supporting a stronger investment culture. Read more here.

💡FiSolve's Negotiation Tip of the Week💡

Constant Delays in Performance

When addressing constant delays in performance, anchor the negotiation in objective, time-bound metrics and the downstream risk they create in a business. This is particularly relevant in a financial services context where latency can translate directly into compliance exposure, missed market opportunities, or client dissatisfaction. Rather than framing the issue as blame, present a concise pattern of delays supported by data (e.g., turnaround times, missed SLAs, or execution lags) and tie it to quantifiable impacts on revenue, risk, or client retention. Then, shift the discussion toward solutions by proposing clear performance benchmarks, interim checkpoints, and accountability structures, while inviting the counterparty to identify structural constraints (such as resourcing, process bottlenecks, or system limitations). This approach keeps the conversation professional and forward-looking, aligning both parties around measurable improvements and shared business outcomes rather than defensiveness.

Happy 250th Birthday to the United States of America!

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