Events listed in United States
CFTC Designates Unique Product Identifier for Swaps Recordkeeping and Reporting
ID 21920
The U.S. Commodity Futures Trading Commission (CFTC) has published a press statement to inform of „an order to designate a unique product identifier and product classification system to be used in swap recordkeeping and reporting“. Specifically, the unique product identifier (UPI) and corresponding classification into credit, equity, foreign exchange, and interest rate swaps will be furnished by the Derivatives Service Bureau Limited (DSB). These ...
CFTC Announces Postponement of Commitments of Traders Report
ID 21914
Following the recent announcement of a delay in the publication of the Commitments of Traders report (CoT) by the U.S. Commodity Futures Trading Commission (CFTC) due to a cyber-incident at ION Cleared Derivatives and the subsequent issues many financial market participants were facing to comply with their daily reporting obligations (please see EventID 19639 in this context), the CFTC has published a follow-up statement ...
SEC Proposes Enhanced Safeguarding Rule for Registered Investment Advisers
ID 21894
The U.S. Securities and Exchange Commission, SEC, has published a press statement to announce an upcoming consultation on proposed enhancements to its client asset custody rule to provide further, more far-reaching protection to investors as regards the handling of THEIR investments. Specifically, the Commission proposes to revise the current custody rule under 17 CFR Part 206, § 275.206(4)-2 by formally re-designating this rule as ...
SEC Finalizes Rules to Reduce Risks in Clearance and Settlement
ID 21889
Following a consultation primarily aimed at reducing the settlement cycle for securities transactions and making other amendments to facilitate faster, more efficient transaction processing in February 2022 (please see EventID 14577 for more information in this context), the U.S. Securities and Exchange Commission (SEC) has now published its finalized rulemaking in this matter. In an accompanying press statement, the SEC’s Chairman Gary Gensler notes ...
Information Notice 2/14/23
ID 21876
On February 14, 2023, the Financial Regulatory Authority (FINRA) issued an Information Notice in connection with transaction fees under section 31 of the Exchange Act. Specifically, FINRA is announcing a transaction fee decrease for securities traded on regulated exchanges and on over-the-counter markets as of February 27, 2023. In detail, the new rate is only $8.00 per million dollars in transactions instead of $22.90 ...
SEC Proposes Revision to Privacy Act Rule
ID 21869
The U.S. Securities and Exchange Commission, SEC, has published a press statement to announce an upcoming consultation on proposed revisions to the SEC’s so-called „Privacy Act Rule“ (17 CFR Part 200 – Subpart H) which stipulates requirements as to the access to and the provision and request of information that is held by the SEC about an individual. The rule also sets out requirements ...
Joint Statement on the U.S.-EU Financial Regulatory Forum
ID 21861
The U.S. Department of the Treasury, USDT, has published a press release informing about the latest EU – U.S. Joint Financial Regulatory Forum. The forum – which was comprised of persons representing the European Central Bank (ECB), the European Commission (EC), the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA), and others on the part of European regulators and by representatives ...
Global Magnitsky Designations
ID 21842
The Office of Foreign Assets Control (OFAC) has published a press release informing about new sanction measures. Specifically, the Office added five individuals and entities to its Specially Designated Nationals and Blocked Persons List (SDN List) due to their engagement in corruption in Bulgaria pursuant to existing sanction regulations (Executive Order 13818 and 31 CFR Part 583). The affected parties are the following: #### ...
Reporting, Recordkeeping, Daily Trading Records, and Swap Documentation ...
ID 21834
Following an announcement earlier this year of upcoming changes to Statutory Instrument 17 CFR Part 23, the U.S. Commodity Futures Trading Commission (CFTC) has now published the corresponding final changes in the Federal Register. The modifications are technical, non-substantive in nature and include the following: 1. the update of several legal references; 2. the replacement of the term unique swap identifier (USI) with the ...
Treasury Takes Action Related to Excepted Foreign State and Excepted Real Estate ...
ID 21832
The U.S. Department of the Treasury, USDT, has published a press statement to inform that its Committee on Foreign Investment in the United States (CFIUS) has determined that both New Zealand and the United Kingdom (UK) have established adequate procedures and controls to screen foreign investments for potential security risks and thus qualify for the excepted foreign states (EFS) status. With this qualification, qualifying ...