Events listed in United States
SEC Adopts Rule to Prohibit Conflicts of Interest in Certain Securitizations
ID 25935
Following a corresponding consultation earlier this year (please see EventID 19373 in this context), the U.S. Securities and Exchange Commission has announced the adoption of a final rule to enhance the conflicts of interest requirements pertaining to securitizations. To recall, the Commission sought to implement a new rule under the Securities Act of 1933, namely 17 CFR Part 230 § 230.192, to prohibit sponsors, ...
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order ...
ID 25931
On November 24, 2023, the U.S. Securities and Exchange Commission (SEC) published in the Federal Register (FR) its decision to approve proposed rule change requested by the Financial Industry Regulatory Authority (FINRA) as regards the adoption of „Supplementary Material .18 (Remote Inspections Pilot Program) under FINRA Rule 3110 (Supervision)“ as modified by Amendment No. 1. Specifically, the aim of the „Supplementary Material .18“ was/is ...
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; ...
ID 25927
The U.S. Securities and Exchange Commission (SEC) has published in the Federal Register an order in relation to a „proposed“ rule amendment of the Financial Industry Regulatory Authority (FINRA) – as modified by amendment No. 1 and 2 – concerning the inspection of residential locations used for business purposes by associated persons of FINRA member firms. In this order, **the SEC confirms that it ...
Agencies extend comment period on proposed rule to require large banks to maintain ...
ID 25893
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FED), and the Federal Deposit Insurance Corporation (FDIC) (collectively referred to as the „agencies“ or „regulators“) have published a press statement to **announce the extension of the comment period up to January 16, 2024 on their proposed rule amendments to require certain large depository institution holding ...
FinCEN Alert on COVID-19 Employee Retention Credit Fraud
ID 25890
On November 22, 2023, the Financial Crimes Enforcement Network (FinCEN) along with the IRS Criminal Investigation (CI) released an alert warning financial institutions about potential fraud schemes linked to the so-called COVID-19 Employee Retention Credit (ERC). This credit is/was part of the relief measures provided to businesses affected by the pandemic and involves the provision of tax credit to those businesses that decide(d) not ...
Investment of Customer Funds by Futures Commission Merchants and Derivatives ...
ID 25888
As announced at the beginning of November 2023 (EventID 23782), the U.S. Commodity Futures Trading Commission (CFTC) has now published in the Federal Register its consultation on proposed revisions to the regulations governing the safeguarding and investment of client funds by futures commission merchants (FCMs) and derivatives clearing organizations (DCOs). To recall, the CFTC seeks to expand the scope of permissible investments by FCMs ...
Information Notice 11/20/23
ID 25874
The Financial Industry Regulatory Authority (FINRA) has published an information notice to remind member firms that – due to the early closing of the US option exchanges on Friday, November 24, 2023, the day following Thanksgiving – **holders of options expiring that day must make their final decision as to whether or not they intend to exercise their options by 2:30 p.m. Eastern Time ...
US Department of Labor releases informational copies of 2023 Form 5500 Series ...
ID 25862
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) have published informational copies of the 2023 – Form 5500 Annual Return/Report, – Form 5500-SF Annual Return/Report for small pension plans, – Form 5500-EZ Annual Return of a one-participant retirement plan or a foreign pension plan, – *Form 5558 for an application ...
Federal Reserve Board announces pricing, effective January 2, 2024, for payment ...
ID 25861
The Board of Governors of the Federal Reserve System (FED) has announced on its website and meanwhile published in the Federal Register its 2024 fee schedule for services provided to financial institutions which in this case relates to banks and credit unions only. According to the accompanying statement, the FED has increased fees – on average – by 1.8% based on the newly determined ...
Counter Terrorism Designations; Issuance of Venezuela-related Frequently Asked ...
ID 25851
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added seven individuals and one entity to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (31 CFR Part 594 and Executive Order 13224) for their engagement in or affiliation with Kata’ib Hizballah, an organization designated by ...