Events listed in United States
Regulatory Notice 23-12
ID 24619
The Financial Industry Regulatory Authority, FINRA, has published a new Regulatory Notice 23-12 to implement final rule changes as regards the procedures for the expungement of dispute information from the FINRA Dispute Resolution Services (DRS) arbitration forum and from the Central Registration Depository (CRD), which is maintained by FINRA and contains information on registered securities and broker firms, as well as individuals who offer ...
Lebanon Designations; Issuance of Russia-related General License
ID 24612
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office adds five individuals to its Specially Designated Nationals and Blocked Persons List (SDN List). The persons are being sanctioned pursuant to Executive Order 13441 for undermining the rule of law in Lebanon by engaging in large scale corruption and transferring the scammed funds ...
Counter Narcotics Designations; Belarus Designations; Issuance of Belarus General ...
ID 24602
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction-related measures. Specifically, the Office added several individuals, entities, and one aircraft to its Specially Designated Nationals and Blocked Persons List (SDN List) due to their support of the Belarus political regime pursuant to Executive Order 14038 and / or their engagement in illicit drug trafficking pursuant to ...
Sanctions Compliance Guidance for the Provision of Humanitarian Assistance to Syria
ID 24599
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury (USDT) has published a new guidance as regards the provision of humanitarian aid in view of existing sanction regulations and executive orders. The guidance, which primarily consists of frequently asked questions (FAQs), is aimed at supporting firms, organizations, and individuals alike in their assessment as to which specific activities may ...
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; ...
ID 24594
The SEC has published a proposed rule change of FINRA in the Federal Register which is intended to adopt „Supplementary Material .18 (Remote Inspections Pilot Program) under FINRA Rule 3110 (Supervision)“ as modified by Amendment No. 1, which was filed by FINRA on August 1, 2023. The purpose of the publication is to seek feedback from the public on the proposal and whether or ...
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order ...
ID 24593
On August 8, 2023, the U.S. Securities and Exchange Commission (SEC) published in the Federal Register (FR) its decision to approve proposed new rules requested by the Financial Industry Regulatory Authority (FINRA) as regards the reporting of order routing information for certain over-the-counter (OTC) equity securities and NMS securities (equity securities traded via the National Market System (NMS)). The changes were proposed by FINRA ...
SR 23-7
ID 24592
The Federal Reserve has announced a new „Novel Activities Supervision Program“ (Program), which focuses on supervision and oversight of banking activities on „crypto-assets, distributed ledger technology (DLT), and complex, technology-driven partnerships with nonbanks“. The reasoning behind it is that while technology and innovation can benefit customers and be tailored-to their needs, it also can lead to thus far unknown risks and material losses. The ...
Reporting and Information Requirements for Derivatives Clearing Organizations
ID 24591
Following the announcement of finalized regulation including revisions to various rules under Statutory Instrument 17 CFR Part 39 concerning business operation requirements of DCOs and revisions to rule § 140.94 under Statutory Instrument 17 CFR Part 140 pertaining to various registration, filing, or publication requirements of derivatives clearing organizations (DCOs) (please see EventID #22513 in this context), the Commodity Futures Trading Commission (CFTF) has ...
Loan Purchase Activities: Legal Lending Limit Guidance
ID 24589
The OCC has published guidance to banks regarding the applicability of the legal lending limit (LLL) to purchased loans. Under the current law, there are limits applied on credit institutions regarding the amount of loans and credit extensions per borrower (i.e. they are subject to LLL). The guidelines specify that „Aggregate exposures attributable to a single seller must be within the bank’s LLL“. According ...
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
ID 24582
Following the notification by the US Commodity Futures Trading Commission (CFTC) in July this year (please see EventID #22513), the Commission has now published in the Federal Register its proposed rule to amend Statutory Instrument 17 CFR Part 23 to change the margin requirements for uncleared swaps, specifically those pertaining to swap dealers (SDs) and major swap participants (MSPs) not under the oversight of ...