Events listed in United States
SR-FINRA-2023-010
ID 23994
The Financial Industry Regulatory Authority, FINRA, has published on its website a proposed rule change in connection with margin requirements regarding certain options or warrants on indices. Specifically, FINRA seeks to exempt from margin requirements short positions in index call or put options or warrants – the so-called protected option – when there is a corresponding long or short position in an underlying stock ...
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; ...
ID 23986
The U.S. Securities and Exchange Commission (SEC) published in the Federal Register (FR) its decision to approve a proposed rule change requested by the Financial Industry Regulatory Authority (FINRA) with respect to the (non)application of FINRA’s Trading Activity Fee [TAF] towards certain proprietary trading firms. To recall, in view of the SEC’s intention to limit the proprietary trading exemption for U.S. brokers and dealers ...
Additional Guidance on the Transition From Interbank Offer Rates to Other Reference ...
ID 23962
The Internal Revenue Service (IRS) has published in the Federal Register a final regulation as regards the calculation of interest expenses attributable to excess liabilities in relation to U.S. business (income effectively connected (ECI)) for purposes of income taxation. Specifically, the IRS is now specifying that foreign banks may apply the one month Secured Overnight Financing Rate (SOFR) with a spread adjustment of 0,11448% ...
CFTC Staff Issues a No-Action Letter Regarding Certain Reporting Requirements for ...
ID 23957
In view of the upcoming termination of several London InterBank Offered Rates (LIBOR) maturities and other commonly used swap InterBank Offered Rates (IBORs), the U.S. Commodity Futures Trading Commission (CFTC) has published a press release to inform of further no-action relief measures in connection with swap transactions. Specifically, the CFTC’s Division of Data (DOD) and its Division of Market Oversight (DMO) have recommended not ...
Agencies finalize policy statement on commercial real estate loan accommodations ...
ID 23954
The Board of Governors of the Federal Reserve System, FED, has published a press realease to announce that the FED itself and several U.S. banking regulators including the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) have finalized a joint Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts. ...
Federal Reserve names organizations certified as ready for FedNow® Service
ID 23947
The Board of Governors of the Federal Reserve System (FED) has published a press statement to provide an update on the preparatory work that is being conducted in the run-up to the introduction of the new FedNow℠ Service in July 2023. FedNow℠ is a 24/7 interbank settlement service with clearing functionality to support instant payments in the United States which will facilitate faster and ...
CFTC Division of Enforcement Creates Two New Task Forces
ID 23936
On June 29, 2023, the U.S. Commodity Futures Trading Commission (CFTC) published a press statement to inform that its Division of Enforcement has established two new task forces: The first task force, called the Cybersecurity and Emerging Technologies Task Force, will focus on cybersecurity issues and emerging technologies, including artificial intelligence. One key objective of the task force is to ensure that registrants have ...
Counter Terrorism Designations Updates; Counter Narcotics Designations Removals; ...
ID 23933
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically on June 29, 2023, the Office removed 15 individuals and entities from its Specially Designated Nationals and Blocked Persons List (SDN List) that were previously sanctioned pursuant to Executive Order 13850 and / or Statutory Instrument 31 CFR Part 598, the *Foreign Narcotics Kingpin Sanctions ...
Financial Action Task Force Identifies Jurisdictions with Anti-Money Laundering and ...
ID 23929
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): Camer ...
Publication of a Joint Fact Sheet on Understanding UK and U.S. Russia-Related ...
ID 23927
On June 28, 2023, the Office of Foreign Assets Control, OFAC, and the Office of Financial Sanctions Implementation of the HM Treasury, OFSI, jointly published a new document in connection with Russia-related sanction measures. Specifically, *the „Offices“ published a new „Fact Sheet“ entitled „Humanitarian Assistance and Food Security Fact Sheet: Understanding UK and U.S. Sanctions and their Interconnection with Russia“. The Fact Sheet* whi ...