Corporate & Financial Weekly Digest, Featuring Articles on FINRA's Proposed Supplemental Liquidity Schedule and ESMA's Exploration of a Lower Threshold for Net Short Position Reporting

BROKER-DEALER -

Notice of Filing of a Proposed Rule Change to Adopt a Supplemental Liquidity Schedule -

The Securities and Exchange Commission is seeking comments on a Financial Industry Regulatory Authority (FINRA) proposal to adopt a Supplemental Liquidity Schedule (SLS), and instructions thereto, pursuant to FINRA Rule 4524. FINRA Rule 4524 provides in part that each member, as FINRA shall designate, shall file as a supplement to FOCUS Reports such additional financial or operational schedules or reports as FINRA may deem necessary. The proposed SLS, which would be filed as a supplement to the FOCUS Report, would be required to be filed by each carrying member with at least $25 million in free credit balances, as outlined under Securities Exchange Act of 1934 (SEA) Rule 15c3-3(a)(8); and (2) any member with at least $1 billion in aggregate outstanding repurchase agreements, securities loan contracts and bank loans, as reported on their most recent FOCUS Report.

Please see full Newsletter below for more information.

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Katten Muchin Rosenman LLP
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