Events listed in United States
Global Magnitsky Designation; Issuance of Global Magnitsky General License and ...
ID 22626
The Office of Foreign Assets Control (OFAC) has published a press release informing about new sanction measures. Specifically, the Office added one entity to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (Executive Order 13818 and 31 CFR Part 583). The affected firm is the following: TABACALERA DEL ESTE S.A. (a.k.a. TABESA), Ybyra Pyta s/n Esquina Mandarinas, ...
Notice of OFAC Sanctions Actions
ID 22617
The Office of Foreign Assets Control, OFAC, has published in the Federal Register a sanction notice concerning sanction measures that weren’t previously announced otherwise. Thereafter, a large number of entities were sanctioned on March 1, 2023 pursuant to Executive Order (E.O. 13846) and / or Executive Order (E.O. 13882). As the number of firms is very large, we refrain from listing any additional information ...
SEC to Host Municipal Securities Disclosure Conference
ID 22606
The U.S. Securities and Exchange Commission, SEC, has published a press release to inform of an upcoming conference for issuers and investors in municipal securities. The conference will be held in hybrid form with both in-person and virtual participation at the SEC’s headquarters. Registration was launched on March 31, 2023. The conference will focus around the following key disclosure topics – as quoted: – ...
OCC Establishes Office of Financial Technology
ID 22589
Following last year’s announcement, the Office of the Comptroller of the Currency (OCC) finally launched its „Office of Financial Technology“, headed by Prashant Bhardwaj as the „Deputy Comptroller and Chief Financial Technology Office“ on March 30, 2023. The Office will build on and incorporate the Office of Innovation, which was created by the OCC in 2016 to „coordinate agency efforts to support responsible financial ...
CFTC Staff Issues No-Action Letter Regarding the Migration of Credit Default Swaps ...
ID 22579
In view of the discontinuations of credit default swap (CDS) clearing services by ICE Clear Europe Ltd. (ICEU) in October 2023, the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) has issued a no action relief letter (23-05) for affected counterparties of open CDS positions at ICEU. This no-action relief will permit market participants to transfer their open positions to other central ...
North Korea Designation; Counter-Narcotics Designations Removals; Venezuela-related ...
ID 22569
The Office of Foreign Assets Control (OFAC) has published a press release informing about new sanction measures. Specifically, the Office added one individual to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations, namely Executive Order 13551. The person is sanctioned due to its efforts to facilitate an arms deal between North Korea and the Russian Federation. OFAC ...
SR-FINRA-2023-006
ID 22565
The Financial Industry Regulatory Authority, FINRA, has published on its website and meanwhile also in the Federal Register proposed amendments to FINRA Rule 3110 as regards supervisory practices with respect to home office „arrangements“. In view of new work models following the COVID-19 pandemic, FINRA finds a revision of its rules pertaining to office locations and inspections to be necessary to further accommodate and ...
FinCEN Analysis of Business Email Compromise in the Real Estate Sector Reveals ...
ID 22561
The Financial Crimes Enforcement Network (FinCEN) has issued a new financial trend analysis on „patterns and trends identified in Bank Secrecy Act (BSA) data relating to business email compromise (BEC) in the real estate sector“. Therein, FinCEN primarily outlines the findings from an analysis of suspicious activities reports (SARs) filed from January 2020 through December 2021 relating to suspicious transactions as regards real estate ...
Regulation D: Reserve Requirements of Depository Institutions
ID 22539
The Board of Governors of the Federal Reserve System (FED) published in the Federal Register modifications to Regulation D – Reserve Requirements of Depository Institutions – with immediate effect to adjust the rate of interest on reserve balances (IROB) to 4.90 percent. The new rate represents a 0.25 percentage point increase from the prior level and is applicable to both required and excess balances ...
Regulation A: Extensions of Credit by Federal Reserve Banks
ID 22528
The Board of Governors of the Federal Reserve System (FED) has made a publication in the Federal Register to announce the adoption of final amendments to its Regulation A to increase the rate for primary credit (overnight credit) at each Federal Reserve Bank. The secondary credit rate for those institutions not qualifying for the primary rate is thereby increased implicitly as well by a ...