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
On February 15, the Securities and Exchange Commission (SEC) adopted rule changes to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (T+2) to one business...more
The Commodity Futures Trading Commission (CFTC) voted to adopt new rules on position limits (Final Rules) in an open meeting on October 15. Once effective, the Final Rules will implement one of the remaining key provisions of...more
On October 15, the Commodity Futures Trading Commission adopted new rules on position limits. The new rules mark an important step forward in a decade-long journey to enact one of the remaining key provisions of Title VII of...more
Eight years after the Commodity Futures Trading Commission (CFTC or Commission) established a comprehensive swap data reporting and public dissemination regulatory regime, on September 17, the Commission adopted extensive...more
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
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
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
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 Advisory Committee on Small and Emerging Companies to Discuss Capital Formation Landscape for Small and Emerging Companies -
The Securities and Exchange Commission announced that its Advisory...more
The staff of the Commodity Futures Trading Commission has published for comment draft technical specifications for certain swap data elements, including data that are currently reportable under Part 45 of CFTC Regulations as...more
The Commodity Futures Trading Commission has issued an order to ICE Trade Vault, LLC that adds two additional asset classes of swaps—interest rate and foreign exchange—to the list of asset classes that ICE Trade Vault may...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
National Futures Association (NFA) will hold an audio conference on Thursday, September 24, at 11:00 a.m. ET to help prepare swap dealers (SDs) and major swap participants (MSPs) for their upcoming examinations. Interested...more
SEC/CORPORATE -
US District Court Orders SEC To Revise Resource Extraction Issuer Rule -
On September 2, the US District Court for the District of Massachusetts ordered the SEC to file with the District Court in 30...more
9/14/2015
/ Banking Sector ,
Broker-Dealer ,
C-Suite Executives ,
CFTC ,
Commodities ,
Consultation ,
Corporate Executive Boards ,
Failure To Disclose ,
FFIEC ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Investment Funds ,
Major Swap Participants ,
NFA ,
NYSE ,
Oxfam America ,
Resource Extraction ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Swaps ,
Trade Market Abuse ,
UCITS ,
UK
The Commodity Futures Trading Commission has proposed to amend Part 45 of its regulations insofar as they relate to the reporting to a swaps data repository of swaps that are cleared by a derivatives clearing organization...more
In this issue:
- US Court of Appeals for the District of Columbia Circuit Upholds Decision on Conflict Minerals Rule
- CFTC Issues Order of Exemption From Registration as a DCO to ASX Clear (Futures) Pty Limited and...more
8/24/2015
/ Appeals ,
CFTC ,
Conflict Mineral Rules ,
Derivatives ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Prudential Regulation Authority (PRA) ,
Registration Requirement ,
Securities and Exchange Commission (SEC) ,
Swap Clearing ,
Swaps ,
Websites
The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) has further extended no-action relief from the valuation data reporting requirements for cleared swaps under CFTC Regulation 45.4(b)(2)(ii)....more
In 2012, the Commodity Futures Trading Commission issued an interpretation that identifies the circumstances in which an agreement, contract or transaction would fall within the forward contract exclusions from the “swap” and...more
The Commodity Futures Trading Commission has proposed to amend the “special entity” de minimis exception from swap dealer designation to exclude certain swaps with public utility providers. The proposed regulations are...more
The Division of Swap Dealer and Intermediary Oversight and the Division of Market Oversight of the Commodity Futures Trading Commission have issued relief from certain recordkeeping obligations for persons that are not...more
In this issue:
- Delaware Legislation Banning Fee-Shifting in Bylaws and Charters
- CFTC Proposes to Amend De Minimis Threshold for Swaps with Utility Providers
- CFTC Grants Recordkeeping Relief for...more
6/2/2014
/ Arbitration ,
Broker-Dealer ,
Bylaws ,
CFTC ,
Commodities ,
De Minimis Claims ,
Derivatives ,
Fee-Shifting ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Fraud ,
Instrumentality ,
Mandatory Arbitration Clauses ,
SEFs ,
Swaps ,
Utilities Sector
CME Group has issued an advisory notice prohibiting transitory exchange for related positions (EFRPs) on each of the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange...more
ICE Swap Trade, LLC, a swap execution facility temporarily registered with the Commodity Futures Trading Commission, recently self-certified amendments to its rules (ICE Rules) to allow market participants to execute...more
On February 12, the Commodity Futures Trading Commission’s Division of Market Oversight (DMO) issued relief from registration as a swap execution facility (SEF) to multilateral trading facilities (MTFs) regulated within the...more