In a prior post, we discussed the recent proposed rules from the Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (“CFTC”) regarding certain non-public information reported to the SEC and...more
The Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (“CFTC”) (collectively, the “Agencies”) jointly proposed a rule (the “Proposed Rule”) that would impact existing confidential reporting...more
A Bloomberg article last week suggests potentially more bad news is on the way for Coinbase Global Inc. (“Coinbase”). Coinbase is reportedly facing an investigation by the U.S. Securities and Exchange Commission (“SEC”) into...more
8/11/2022
/ CFTC ,
Coinbase ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Securities ,
Enforcement Actions ,
Illegal Tipping ,
Insider Trading ,
Investigations ,
Popular ,
Securities and Exchange Commission (SEC)
This is an update to a previous post. This update highlights the formal endorsement of Term SOFR by the ARRC, expands the discussion to include Ameribor and dives more deeply into the issues associated with Term SOFR swaps...more
8/4/2021
/ Alternative Reference Rates Committee (ARRC) ,
Bank Loan Markets ,
Broker-Dealer ,
CFTC ,
Compliance ,
End-Users ,
Federal Reserve ,
Financial Institutions ,
Fixed-Rate Loans ,
Interest Rates ,
Lenders ,
Libor ,
Liquidity ,
Secured Overnight Funding Rate (SOFR)
Wednesday, the ARRC announced (HERE) the expectation to endorse CME’s Term SOFR in late July or early August. One of the bigger pieces to this announcement is the announcement that U.S. regulators will also permit Term SOFR...more
In a recent speech, the new SEC Chairman, Gary Gensler, came out questioning the use of BSBY as a replacement to LIBOR, by highlighting a number of “concerns” he has with BSBY and why SOFR is preferable....more
In a press release on June 8th, the Commodity Futures Trading Commission (the “CFTC”) published its first release in a series called the “SOFR First Transition Initiative” as a best practice. One goal for this sort of “best...more
6/10/2021
/ Best Practices ,
Broker-Dealer ,
CFTC ,
Compliance ,
Dealers ,
Financial Institutions ,
Over The Counter Derivatives (OTC) ,
Regulatory Oversight ,
Secured Overnight Funding Rate (SOFR) ,
SEFs ,
Swap Dealers