The CFTC Enforcement Division issued a prediction markets advisory, 99 FOCUS reports set an all-time single-day filing record, the Federal Reserve issued two prohibition orders in a single day, and Apex acquired ownership of GlobaCap Private Markets across 197 total events.
CFTC Enforcement Division Issues Prediction Markets Advisory
The CFTC Enforcement Division issued a prediction markets advisory — the latest in a series of February regulatory actions shaping the Commission's approach to event contracts and prediction markets. Following the withdrawal of the event contracts rule earlier this month and the circuit court filing asserting exclusive jurisdiction, this enforcement advisory provides operational guidance to market participants on compliance expectations for prediction market platforms.
The advisory's issuance by the Enforcement Division rather than the Division of Market Oversight signals that the CFTC intends to regulate prediction markets through enforcement precedent rather than through formal rulemaking — at least for now. For platforms like Kalshi, Polymarket, and their broker-dealer intermediaries, the advisory defines the compliance boundaries within which they must operate.
99 FOCUS Reports Shatter Every Record
Ninety-nine FOCUS Reports were filed along with one amendment — obliterating the previous record of 65 set just one day earlier. The filing volume is staggering: nearly 100 broker-dealers submitted their financial disclosures on a single day, representing the largest batch of FOCUS filings ever recorded on the Finleet Terminal.
February's cumulative FOCUS count now exceeds 350 reports. The concentration of filings in the final week of February confirms that the fiscal year-end reporting deadline is driving institutional-scale submissions. FOCUS data from this filing wave will provide the most comprehensive snapshot of broker-dealer financial health available to regulators and the public.
Federal Reserve Issues Two Prohibition Orders
The Federal Reserve Board issued two prohibition orders in a single day — the first time this month that multiple prohibition orders were recorded simultaneously. The two bans bring February's total Fed prohibition orders to five, making this one of the most active months for individual-level banking enforcement in recent memory. Prohibition orders permanently bar named individuals from participating in the affairs of any FDIC-insured institution.
Apex Acquires GlobaCap Private Markets
GlobaCap Private Markets Inc. (CRD 328777) in New York recorded a change in ownership: GlobaCap Inc. departed as owner and Apex US Holdings LLC was added. The acquisition by Apex — a fintech infrastructure company known for its clearing, custody, and digital securities capabilities — adds a private markets broker-dealer to Apex's growing portfolio of financial services entities. CCO Ann Margaret Griffith (CRD 2936554) departed, replaced by Gerard Michael Visci (CRD 2066721).
The GlobaCap acquisition fits Apex's strategy of building a full-stack digital securities infrastructure. GlobaCap specializes in private capital markets technology, and its integration into the Apex ecosystem could accelerate the development of tokenized securities distribution platforms.
Five BD Status Changes
Five broker-dealer status changes were recorded — the highest single-day count for this event type this month. Status changes can indicate transitions between active, suspended, and terminated states, and often correlate with other structural events like mergers, closures, or regulatory actions.
Eight New Firms, Four Closures
Eight new broker-dealer registrations were recorded while four firms closed, producing a net gain of four. February's cumulative net new firm count now exceeds 30 — a remarkable pace that continues to exceed recent years.
Across the Wire
Ten registration changes, six personnel changes, five role changes, 11 executive departures, seven new hires, four address changes, and two disclosure changes rounded out the BD vertical. One firm name change was filed. Three RIA firms graduated. Thirteen SEC announcements were published. The OCC processed one action, one branch establishment, and two branch closings. Seven BIS central bank speeches and one BIS press release were published.
All data sourced from FINRA BrokerCheck, SEC EDGAR, Federal Reserve, CFTC, OCC, BIS, and the Finleet Terminal as of February 25, 2026. Entity profiles are available at terminal.finleet.com.