Events listed in United States
Regulatory Notice 23-17
ID 25564
The Financial Industry Regulatory Authority, FINRA, has published a regulatory notice (23-17) to inform that it will discontinue its data collection under FINRA Rule 4540. FINRA’s Rule 4540 mandates that clearing and self-clearing member firms report specific data electronically about themselves and the members they clear for to facilitate risk analysis of the Authority. Specifically, the data collected through this rule was used in ...
Order Granting Broker-Dealers Exemptive Relief, Pursuant to Section 36(a) and Rule ...
ID 25562
The U.S. Securities and Exchange Commission (SEC) has published a new order to provide relief to broker-dealers under Rule 17 CFR Part 240, § 240.15c2-11 of the Securities Exchange Act of 1934 when dealing with so-called „Rule 144A“ fixed-income securities, thereby recognizing the unique characteristics of these securities and the specific investor base they cater to. Specifically, 17 CFR Part 240, § 240.15c2-11 of ...
SR-FINRA-2023-014
ID 25557
In view of the upcoming changes to 17 CFR Part 240, § 240.15b9-1 under the Securities Exchange Act of 1934 on registration requirements of broker-dealers with the Financial Industry Regulatory Authority (FINRA) and exemption therefrom as initiated by the Securities and Exchange Commission in August this year (EventID 22724), FINRA has now published a **draft on proposed rule changes to „establish a Short-Form Membership ...
Regulatory Capital Rule: Large Banking Organizations and Banking Organizations With ...
ID 25543
As previously announced by the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Board of Governors of the Federal Reserve System (FED), **the regulators have now published in the Federal Register the extended deadline for the submission of comments on their proposed new rule to modify the capital requirements of large financial institutions in the U.S. ...
CFTC and French AMF Sign MOU for Supervision of Certain Cross-Border Firms
ID 25534
The U.S. Commodity Futures Trading Commission (CFTC) has published a press release to inform of the signing of a Memorandum Of Understanding between the Commission itself and the French Autorité des marchés financiers (AMF) in connection with the cross-border supervision of covered entities. Specifically, the two regulators have agreed upon cooperating and exchanging information on the supervision of French swap dealers and major swap ...
Counter Terrorism Designations
ID 25521
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added eight individuals and four entities 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 the financing of terrorist organization Hamas. The following ...
Risk-Based Capital Surcharges for Global Systemically Important Bank Holding ...
ID 25520
As previously announced by the Board of Governors of the Federal Reserve System (FED), the regulator has now published in the Federal Register the extended deadline for the submission of comments on its proposed adjustments to the calculation of the capital surcharge for the largest and most complex banks. Specifically, the FED is extending the deadline from November 30, 2023 to January 16, 2024 ...
Investment Company Names; Correction
ID 25518
The U.S. Securities and Exchange Commission (SEC) has published in the Federal Register a correction to its final rule as regards the naming of investment funds. The correction modifies two statements relating to the date of application of the new rule to explicitly specify that – larger fund groups with net assets of more than $1 billion must comply with the new rules by ...
Issuance of Russia-related General License
ID 25484
The Office of Foreign Assets Control, OFAC, has issued a new General License (GL 8H) to permit otherwise prohibited financial transactions due to sanction measures imposed on the Russian Federation pursuant to Executive Order 14024. Specifically, GL 8H permits energy-related financial transactions involving the following entities: (1) State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank; (2) Public Joint Stock Company Bank Financial ...
Agencies issue final rule to strengthen and modernize Community Reinvestment Act ...
ID 25477
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) have announced their final rule to make large scale modifications to rules and regulations under the Community Reinvestment Act (CRA). The final rule comes after a corresponding consultation of the regulators in 2022 (EventID #15781) and the cancellation ...