After issuing two proposals, the Securities and Exchange Commission (SEC) adopted final rules (Final Rules) to establish its trading regime for security-based swaps (SBS) as required under the Dodd-Frank Wall Street Reform...more
KEY POINTS -
- The Commodity Futures Trading Commission (CFTC) has finalized its proposed new rule (Final Rule) relating to the cross-border application of certain of its swap regulations.
- The Final Rule supersedes...more
Key Points
- The Commodity Futures Trading Commission (CFTC) has proposed new rules (Proposal) for the cross-border application of certain of its swap regulations.
- The Proposal includes certain changes relative to the...more
3/4/2020
/ CFTC ,
Collective Investment Schemes ,
Comment Period ,
Commodity Exchange Act (CEA) ,
Cross-Border Transactions ,
Derivatives ,
Employee Retirement Income Security Act (ERISA) ,
Foreign Branch Offices ,
Foreign Branches of U.S. Banks ,
Foreign Investment ,
Foreign Jurisdictions ,
Major Swap Participants ,
New Rules ,
Principal Place of Business ,
Public Comment ,
Securities and Exchange Commission (SEC) ,
Swap Dealers ,
Swaps
BROKER-DEALER -
SEC Issues Guidance on Substituted Compliance Applications by Non-US Security-Based Swap Dealers and Major Security-Based Swap Participants -
On November 25, the Securities and Exchange Commission’s...more
12/16/2019
/ Broker-Dealer ,
Capital Requirements ,
CFTC ,
Cryptocurrency ,
Economic and Financial Affairs Council (ECOFIN) ,
Emissions Trading System ,
European Banking Authority (EBA) ,
Final Rules ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Green Finance ,
Popular ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Senior Management Regime (SMR) ,
Swap Dealers ,
Swaps
SEC/CORPORATE -
SEC Issues Legal Bulletin Regarding Shareholder Proposals Exclusion -
On October 16, the staff of the Division of Corporation Finance (Staff) of the Securities and Exchange Commission issued Staff...more
10/21/2019
/ AML/CFT ,
Asset Management ,
Broker-Dealer ,
CFTC ,
Corporate Governance ,
Derivatives ,
Digital Assets ,
Financial Conduct Authority (FCA) ,
FinCEN ,
Rule 14a-8 ,
Rule 14a-8(i)(7) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Shareholder Proposals ,
Swaps ,
Virtual Currency
SEC/CORPORATE -
SEC Adopts Additional Rules for Security-Based Swaps -
On June 21, the Securities and Exchange Commission adopted a panoply of final rules dealing with the following
aspects of the regulation of...more
7/1/2019
/ Broker-Dealer ,
CFTC ,
Cross-Border ,
European Securities and Markets Authority (ESMA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Instruments ,
Investment Adviser ,
MSBSPs ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Stand-Alone SBSDs ,
Swap Dealers ,
Swaps
BROKER-DEALER -
FINRA Issues Report on Examination Findings -
This month, the Financial Industry Regulatory Authority (FINRA) issued a report summarizing various findings from recent examinations of its member firms...more
12/17/2018
/ Article 50 Treaty of the EU ,
Binary Options ,
CFTC ,
CPOs ,
Cryptoassets ,
Derivatives ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Internal Controls ,
NFA ,
No-Deal Brexit ,
Swaps ,
UK ,
UK Brexit
BROKER-DEALER -
FINRA Proposes Rule Change Relating to Rule 4512 (Customer Account Information)
On November 28, the Financial Industry Regulatory Authority filed a proposed change to Rule 4512(a)(3) (Customer Account...more
12/10/2018
/ Corporate Governance ,
ECON ,
EMIR ,
EU ,
Nasdaq ,
Privacy Notice Rule ,
Proposed Amendments ,
Proxy Season ,
Securitization ,
SEFs ,
Swaps ,
UK ,
UK Brexit
CFTC -
CFTC’s LabCFTC Releases Primer on Smart Contracts -
On November 27, the Commodity Futures Trading Commission’s LabCFTC released “A CFTC Primer on Smart Contracts” to provide information on a variety of financial...more
12/3/2018
/ CFTC ,
Derivatives ,
EU ,
LabCFTC ,
Margin Requirements ,
Payment Systems ,
Smart Contracts ,
Swap Clearing ,
Swaps ,
UK ,
UK Brexit
DERIVATIVES -
SEC Reopens Comment Period for Unfinished Security-Based Swap Rules -
On October 11, the Securities and Exchange Commission demonstrated renewed interest in completing the regulatory regime for...more
10/22/2018
/ Climate Change ,
Comment Period ,
Derivatives ,
Financial Conduct Authority (FCA) ,
Green Finance ,
New Guidance ,
Securities and Exchange Commission (SEC) ,
Securitization ,
Security-Based Swaps ,
Swaps ,
UK ,
UK Brexit
CFTC -
CFTC Approves Proposed Regulations for CPOs and CTAs -
On October 9, the Commodity Futures Trading Commission approved proposed rules intended to simplify regulations for commodity pool operators (CPOs) and...more
10/15/2018
/ CFTC ,
Commodities ,
Commodity Trading Advisors (CTAs) ,
Consultation ,
CPOs ,
Derivatives ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
MiFID II ,
Natural Gas ,
Swaps ,
UK Brexit
SEC/CORPORATE -
California Adopts Law Regarding Female Representation on Boards of Directors of Publicly Held Companies -
On September 30, California Governor Jerry Brown signed into law California Senate Bill 826 (SB...more
10/8/2018
/ Australia ,
Bank Secrecy Act ,
Benchmarks ,
Board of Directors ,
CFTC ,
Commodity Trading Advisors (CTAs) ,
Corporate Governance ,
CPOs ,
Cross-Border Transactions ,
Diversity ,
EU Market Abuse Regulation (EU MAR) ,
FinTech ,
Gender Equity ,
Libor ,
MiFID II ,
MiFIR ,
Swaps ,
UK Brexit ,
Woman Board Members
BROKER-DEALER -
Amended FINRA Registration Rules To Take Effect October 1 -
Amended Financial Industry Regulatory Authority registration, qualification and continuing education rules will become effective on October 1....more
9/10/2018
/ CFTC ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Industry Regulatory Authority (FINRA) ,
MiFIR ,
NFA ,
Registration Requirement ,
Regulation Technical Standards (RTS) ,
Swaps ,
Volcker Rule
SEC/CORPORATE -
SEC Approves NYSE Rule to Facilitate Listing Without an IPO -
On February 2, the Securities and Exchange Commissions approved a New York Stock Exchange (NYSE) rule change that facilitates the listing...more
2/13/2018
/ Banks ,
Broker-Dealer ,
Derivatives ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
General Data Protection Regulation (GDPR) ,
Government Securities ,
Listing Rules ,
Margin Requirements ,
MiFID II ,
NYSE ,
OCIE ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Short Selling ,
Swaps ,
UK
EU and Prudential Regulators Issue Statements on March 1 Compliance With Swap Margin Rules -
Lacking the ability to issue formal no-action relief from strict compliance with the variation margin rules for uncleared swaps...more
BROKER-DEALER -
SEC Approves FINRA’s Proposed Expansion of Supplement Schedule for Derivatives and Off-Balance Sheet Items -
On April 5, the Financial Industry Regulatory Authority released Regulatory Notice 16-11...more
4/11/2016
/ CFTC ,
Corporate Governance ,
EU ,
Exchange-Traded Products ,
FDIC ,
Filing Requirements ,
Financial Industry Regulatory Authority (FINRA) ,
Guidance Update ,
MiFIR ,
Natural Gas ,
Remuneration ,
Swaps ,
UCITS V
SEC/CORPORATE -
SEC Settles With Adviser That Allegedly Overcharged Management Fees and Misled Investors -
On January 19, the Securities and Exchange Commission announced that it had settled with Equinox Fund...more
SEC/CORPORATE -
ISS Publishes Results of 2015–2016 Annual Global Policy Survey -
On September 28, Institutional Shareholder Services (ISS), a leading proxy advisory firm, published the results of its 2015–2016...more
10/5/2015
/ Banks ,
Broker-Dealer ,
Bylaws ,
CEOs ,
CFTC ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Corporate Governance ,
Derivatives ,
Derivatives Clearing Organizations ,
Director Compensation ,
EU ,
European Securities and Markets Authority (ESMA) ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
GAAP ,
Independent Boards ,
Institutional Shareholder Services (ISS) ,
Liquidity Risk Management Rule ,
Proxy Access Rule ,
Proxy Season ,
Regulation Technical Standards (RTS) ,
Securities and Exchange Commission (SEC) ,
Swaps ,
Trade Market Abuse
In This Issue:
- Meeting of the SEC Advisory Committee on Small and Emerging Companies
- FINRA Requests Comment on a Proposed Rule to Require Delivery of an Educational Communication to Customers of a Transferring...more
6/15/2015
/ Bank Fraud ,
Bank of England ,
British Bankers' Association ,
Business Development ,
Capital Requirements ,
CFTC ,
Commodity Trading Advisors (CTAs) ,
Crowdfunding ,
Derivatives ,
Disclosure Requirements ,
Diversity ,
Dodd-Frank ,
DSIO ,
Employment Policies ,
Equal Employment Opportunity Commission (EEOC) ,
EU ,
European Banking Authority (EBA) ,
Fair and Effective Markets Review (FEMR) ,
FICC ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
Finders ,
GameStop ,
IMF ,
JOBS Act ,
LGBTQ ,
OMWI ,
Privacy Policy ,
Regulation S-K ,
Rule 147 ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Swaps ,
UK ,
World Bank
In this issue:
- New Law Aligns Clearing and Margin Exceptions for Swaps
- CFTC Staff Extends No-Action Relief to Certain Reporting Counterparties Masking Identifying Information Pursuant to Non-US Law
-...more
1/19/2015
/ Appraisal ,
CFTC ,
Compliance ,
EMIR ,
Enforcement Actions ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Fixed Income Investments ,
LiquidAlts ,
MiFID ,
No-Action Relief ,
SEC Examination Priorities ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Shareholders ,
Swap Clearing ,
Swaps ,
Terrorism Insurance ,
TRIA
In this issue:
- Delaware Chancery Court Declines to Dismiss Fraud Claims Against Private Equity Fund and Directors
- Agencies Amend Regulatory Capital and Liquidity Coverage Ratio Rules
- FINRA Proposes...more
12/22/2014
/ Affiliates ,
Banking Sector ,
Banks ,
Bitcoin ,
BitLicense ,
Capital Requirements ,
CFTC ,
CPOs ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
Fraud ,
Liquidity Coverage Ratio ,
Market Participants ,
NFA ,
Private Equity Funds ,
Push-Out Requirements ,
Recordkeeping Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Swaps ,
Whistleblower Protection Policies
In this issue:
- Council of Institutional Investors Issues Report on Board Evaluation Disclosure
- FINRA Revises Proposal to Adopt Consolidated FINRA Rule 2231
- IRS Considers Whether Management Fees of...more
9/22/2014
/ Broker-Dealer ,
CFTC ,
Corporate Governance ,
Dodd-Frank ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
Insider Trading ,
Institutional Investment ,
IRS ,
Limited Liability Company (LLC) ,
Margin Requirements ,
Swaps
In this issue:
- ISS Launches New Equity Plan Data Verification Portal
- ISDA Publishes Protocol for 2014 Credit Derivatives Definitions
- FinCEN Issues Advisories for US Financial Institutions
-...more
8/25/2014
/ CFTC ,
Class Action ,
Class Certification ,
Compliance ,
Contests & Promotions ,
Derivatives ,
EMIR ,
Equity Plans ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FinCEN ,
Fraud ,
Institutional Shareholder Services (ISS) ,
ISDA ,
Judge Rakoff ,
OCC ,
Rule 10(b) ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
SEFs ,
Social Media ,
Swap Dealers ,
Swaps
On April 9, 2014, the Division of Market Oversight (DMO) and Division of Swap Dealer and Intermediary Oversight (DSIO) (together, the Divisions) of the United States Commodity Futures Trading Commission (CFTC) issued...more
On July 12, 2013, the Commodity Futures Trading Commission ("CTFC") approved final guidance addressing the extent to which the swap provisions of the Commodity Exchange Act ("CEA") added by Title VII of the Dodd-Frank Wall...more