Five Year Plan: DTCC's Marisol Collazo Offers a Progress Report on Global Data Repository Issues
On December 13, 2023, the Securities and Exchange Commission (the “SEC” or the “Commission”) voted 4-1 to approve Standards for Covered Clearing Agencies for U.S. Treasury Securities and Application of the Broker-Dealer...more
As many of you are aware, with some minor exceptions, the United States bifurcates export controls responsibility between the Department of State, which administers the International Traffic in Arms Regulations (the “ITAR”),...more
UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
On 27 July 2023, Depository Trust & Clearing Corporation (“DTCC”) announced its decision to exit the Global Markets Entity Identifier (“GMEI”) business by 22 August 2023. Through its GMEI business, DTCC issued Legal Entity...more
The Deposit Trust & Clearing Corp. (“DTCC”) released a February 24 roadmap for shortening the settlement cycle for US equities by half over the next two years. The proposal anticipates DTCC’s completion of its “Project ION”...more
Friday’s “anemic” jobs report (just 49,000 jobs added in January, and precious few of those in the private sector) “underscored the pandemic’s brutal damage to the job market” and likely made President Biden’s sale of his...more
The close of 2019 witnessed a significant development in data security law that impacts companies regulated with respect to or engaged in the trading of public securities, as well as those companies that provide services to...more
Fund and Investment Management January 2019 (No. 1) REGULATORY UPDATES Policy Initiatives Set Forth by the U.S. Securities and Exchange Commission’s (“SEC”) Investment Management Division On September 28, 2018, Division of...more
The FLIR Systems settlement is an extraordinary event given the sheer number of violations, the systemic breakdown that occurred, and the absence of any meaningful compliance controls. ...more
Many may have heard of Cede and Company, but what exactly is it and who owns it? Cede is a New York partnership, of which Depository Trust Company and The Depository Trust and Clearing Corporation are partners. The former,...more
SEC Proposes Amendments To Update and Simplify Disclosure Requirements: A Closer Look - On July 13, the Securities Exchange Commission proposed and requested comment regarding rule amendments to update and simplify...more
Imagine a perfect world where every financial transaction has an electronic chain of proof of title and a history of all prior owners. This is the world of blockchain technology – a world that already exists for Bitcoin, and...more
The Depository Trust & Clearing Corporation, or DTCC, is integrally involved with settlement of trades in public company stocks. It has issued a white paper examining the use of blockchain technology to settle securities...more
On July 20, the Commodity Futures Trading Commission issued an order extending the designation of the Depository Trust and Clearing Corporation and Society for Worldwide Interbank Financial Telecommunications joint venture...more
The Australian government has released draft regulations implementing a single sided exemption from the trade reporting regime for over-the-counter (OTC) derivatives. Consultation on the regulations closed in late June and...more
The Commodity Futures Trading Commission issued an amended order that expands the list of acceptable legal entity identifiers (LEIs) for purposes of swap data reporting and recordkeeping obligations under Parts 45 and 46 of...more
On April, 30, 2013, Raytheon Company, a major military electronics and weapons manufacturer, agreed with the U.S. Department of State to pay $8 million in civil penalties and remedial expenditures to settle alleged violations...more