Last updated October 2012
Shearman & Sterling LLP, Update: German Government Adopts Draft Legislation to Regulate High-Frequency Traders and Algorithmic Trading Strategies on German Trading Venues (Oct. 10, 2012) (describing the adoption of German federal draft legislation entitled "Act for the Prevention of Risks and the Abuse of High Frequency Trading")
Sullivan & Cromwell LLP, Circuit Breakers, SEC Order Approves Proposals to Address Extraordinary Volatility in Individual Stocks and Broader U.S. Stock Market (June 11, 2012) (detailing the two national-securities-exchange-and-FINRA proposals that the SEC approved: (1) a "limit up, limit down" mechanism to protect against trading volatility in individual stocks; and (2) revisions to the existing market-wide circuit breakers that pause trading in all exchange-listed equities in the National Market System)
Davis Polk & Wardwell LLP, SEC Approves "Limit Up, Limit Down" Plan and Tighter Circuit Breakers (June 6, 2012) (client news flash describing the SEC's new "limit-up, limit-down" plan, setting price bands for individual securities as well as the tightening of existing market-wide circuit breakers)
Sullivan & Cromwell LLP, French Financial Transaction Tax (Mar. 6, 2012) (discussing an August 1, 2012 French tax on high-frequency trading of 0.01% on, with exceptions, the value of canceled or modified transactions that exceed a threshold)
Skadden, Arps, Slate, Meagher & Flom LLP, European Securities and Markets Authority Publishes New Guidelines to Apply from May 2012 for Regulation of Automated and Algorithmic Trading in the E.U. (Jan. 10, 2012) (providing a brief overview of the European Securities and Markets Authority' guidelines for automated trading in the European Union that were issued in December 2011 in an attempt to mitigate the chances of a United States-type Flash Crash occurring in European securities markets)
Skadden, Arps, Slate, Meagher & Flom LLP, Skadden's 2012 Insights: Financial Regulation (Jan. 2012) (describing, among other developments in a broader publication on financial regulation, a European Commission proposal for a Financial Transaction Tax in the European Union that would, in part, be aimed at reducing the level of high-frequency trading)
Davis Polk & Wardwell LLP, SEC Large Trader Rule: Impact on Corporations and Related Individuals (Oct. 5, 2011) (opining on the reach and impact of the SEC's large-trader rule)
Sullivan & Cromwell LLP, Financial Transaction Tax: European Commission Draft Directive on Financial Transaction Tax (Oct. 4, 2011) (detailing the European commission proposal for a financial transaction tax aimed at, among other things, discouraging risky trading activities including high-frequency trading)
Davis Polk & Wardwell LLP, Tighter Circuit Breakers in Equities Markets (Oct. 4, 2011) (briefly articulating the then-proposed rules regarding the tightening of the existing market-wide circuit breakers for the National Market System for the trading of equity securities)
Davis Polk & Wardwell LLP, SEC Adopts Large Trader Reporting Requirements (Aug. 1, 2011) (discussing the SEC's adoption of a rule requiring large-trader registration and reporting)
Davis Polk & Wardwell LLP, New Trading Pause Proposals to Include More Issuers (June 30, 2010) (client news flash discussing the SEC's modifications of market circuit breakers after the Flash Crash of 2010)