Events listed in United States
Financial Action Task Force Identifies Jurisdictions with Anti-Money Laundering and ...
ID 25652
The Financial Crimes Enforcement Network (FinCEN) has published a press release relating to the recent statements by the Financial Action Task Force (FATF) regarding jurisdictions with Anti-Money Laundering (AML) and Combating the Financing of Terrorism and Counter-Proliferation (CFT) deficiencies. Specifically, FATF announced the following re-classification of jurisdictions in accordance with their deficiencies: (1) Jurisdictions Under Increased Monitoring (Grey List): Bulga ...
CFTC Seeks Public Comment on a Proposal on Investment of Customer Funds
ID 25651
The U.S. Commodity Futures Trading Commission (CFTC) has announced an upcoming 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). Specifically, the CFTC seeks to expand the scope of permissible investments by FCMs and DCOs, replace the London InterBank Offered Rate (LIBOR) with SOFR, the *Secured Overnight Financing ...
Russia-related Designation
ID 25650
The Office of Foreign Assets Control (OFAC) has published a new press statement to inform about new sanction measures. Specifically, the Office added one individual to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to Executive Order 14024 which was signed by President Joseph Biden in 2021 and subsequently amended to install sanction measures for engagements in or being responsible for ...
Acting Comptroller Issues Statement at Financial Stability Oversight Council ...
ID 25647
The Office of the Comptroller of the Currency (OCC) has issued a statement in view of the finalized analytical framework for the identification, assessment, and response to potential risks to U.S. financial stability and the finalized interpretive guidance for the determination of whether or not a non-bank financial company should be „designated“ and thus be subject to Federal Reserve supervision and prudential requirements. Both ...
Proposed Amendment to Prohibited Transaction Exemption 2020-02
ID 25646
In connection with a consultation on a proposed new definition of an „investment advice fiduciary“ which would expand the scope of such to include all individuals and entities that provide investment advice or make investment recommendations whether it be to a pension plan or individual investors (EventID 23651), the Employee Benefits Security Administration (EBSA) has launched a *consultation on changes to the Prohibited Transaction ...
FSOC Approves Analytic Framework for Financial Stability Risks and Guidance on ...
ID 25645
The U.S. Department of the Treasury, USDT, has published a **press statement to inform that it has finalized the analytical framework for the identification, assessment, and response of the USDT’s Financial Stability Oversight Council (FSOC) to potential risks to U.S. financial stability and the interpretive guidance for the determination of whether or not a non-bank financial company should be „designated“ and thus be subject ...
SEC Adopts Rules for the Registration and Regulation of Security-Based Swap ...
ID 25629
Following the launch of a corresponding consultation in April 2022, the U.S. Securities and Exchange Commission (SEC) has published its final rule as regards a new regulatory regime for the registration and conduct of security-based swap execution facilities (SBSEFs). The aim of the new rule, which is mandated under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), is ...
Russia-related Designations, Updates and Removal; Counter Terrorism Designation ...
ID 25627
In view of the ongoing aggression of Russia towards Ukraine, the U.S. Department of the Treasury has drawn up a new sanctions package targeting Russia, the Russian economy, and Russian firms and individuals, which consists of the following: (1) The sanctioning of nearly 100 additional entities and individuals for their engagement in sanction evasion and / or their provision of important technical devices used ...
Information Notice 11/2/23
ID 25617
The Financial Industry Regulatory Authority (FINRA) has published an information notice to remind member firms of the changes to its continuing education (CE) Firm Element requirement which came into force on January 1, 2023. Specifically, the changes include(d): – the extension of the CE Firm Element requirement to all registered representatives, including those with „permissive registrations“, that is affiliated (legal) persons for which a ...
Treasury’s Federal Insurance Office Advances First Insurer Data Call to Assess ...
ID 25612
Following last year’s consultation on a proposed new data collection from property and casualty insurers to assess climate-related financial risks to consumers in the United States (EventID 17819), the U.S. Department of the Treasury has now published an update on this matter. Specifically, the Treasury notes that its Federal Insurance Office (FIO) will proceed with the data collection and has submitted a corresponding request ...