Short & Sweet - Easy Petition Templates for NSCC Rule Change. With Updates!
Set to expose Wall Street's regulatory loopholes, household investors are petitioning the SEC for much needed rule changes. It's time to level out the playing field.
Latest
CFTC submits a special filing at 4:15 p.m. for a CLOSED meeting that occurred today at 4:00 p.m. to consider litigation matters.
S&P Global: US bankruptcy filings spiked in August (63) after a July slowdown, leading to the highest total for the first eight months of the year since 2020 and the second-highest since 2010.
SEC announces settled charges against 7 public companies for using employment, separation, and other agreements that violated rules prohibiting actions to impede whistleblowers from reporting potential misconduct to the SEC.
NSCC's got a "rule for throwing out rules". So we're going to throw out their rule, for throwing out rules. You in? ๐
FDIC Second Quarter Quarterly Banking Profile: "The vast majority of community banks (96.7%) reported unrealized losses on securities."
Philadelphia Fed launches search for its next president and CEO, as current president and CEO Patrick Harkerโs tenure will conclude on June 30, 2025.
๐ฐ News
CFTC submits a special filing at 4:15 p.m. for a CLOSED meeting that occurred today at 4:00 p.m. to consider litigation matters.
The Commodity Futures Trading Commission (CFTC) held a closed meeting today at 4:00 p.m. to address litigation matters. A special filing regarding the meeting was submitted at 4:15 p.m. No further details about the litigation matters discussed were provided but it is always curious when they
FDIC Second Quarter Quarterly Banking Profile: "The vast majority of community banks (96.7%) reported unrealized losses on securities."
SEC Charges 6 Credit Rating Agencies with significant recordkeeping failures. The Firms admit to wrongdoing and agree to pay penalties totaling more than $49 million to settle SEC charges.
SEC Commissioner Mark T. Uyeda from his statement on Form N-PORT and From N-CEN reporting: "I reject the premise that frequent public disclosure of consistent information made available for all funds is a โpublic good.โ"
CFTC Awards Over $4 Million to Insider Whistleblower, meaning the fine levied ranged between $13.33 million to $40 million.
From December 2015-present, Merrill and, since 2019, BofA, failed to have a supervisory system reasonably designed to detect and prevent potentially manipulative trading by the firm's customers.
CFTC: From 2018-2023, Bank of New York Mellon repeatedly failed to correctly report at least 5,000,000 swap transactions & failed to properly supervise its swap dealer business with respect to swap data reporting & monitoring.
๐ Macroeconomics
S&P Global: US bankruptcy filings spiked in August (63) after a July slowdown, leading to the highest total for the first eight months of the year since 2020 and the second-highest since 2010.
US bankruptcy filings surged in August after a slowdown in July, reaching the highest total for the first eight months of the year since 2020, according to data from S&P Global Market Intelligence. A total of 63 public and certain private companies filed for bankruptcy in August, up
Philadelphia Fed launches search for its next president and CEO, as current president and CEO Patrick Harkerโs tenure will conclude on June 30, 2025.
Multivariate Core Trend (MCT) inflation increased to 2.5% in July from 2.2% in June. The MCT gauges inflationโs persistence across 17 core sectors of the personal consumption expenditures (PCE) price index.
S&P Global Market Intelligence: Commercial real estate loan delinquencies reaccelerate as loan growth slows. The delinquency ratio for CRE loans across US banks rose 16 basis points in Q2 to 1.40%
Real gross domestic product (GDP) increased at an annual rate of 3.0% in Q2:2024, according to the "second" estimate released by the U.S. Bureau of Economic Analysis, which was up from 2.8% in the 'advance' estimate.
FOMC Minutes: "The staff provided an update on its assessment of the stability of the U.S. financial system and, on balance, continued to characterize the system's financial vulnerabilities as notable." Ruh-roh...
SCE Labor Market Survey: The proportion of individuals who reported searching for a job in the past four weeks rose to 28.4% from 19.4% in July 2023, highest reading since March 2014.
๐งฑ Market Reform
Short & Sweet - Easy Petition Templates for NSCC Rule Change. With Updates!
Set to expose Wall Street's regulatory loopholes, household investors are petitioning the SEC for much needed rule changes. It's time to level out the playing field.
NSCC's got a "rule for throwing out rules". So we're going to throw out their rule, for throwing out rules. You in? ๐
PETITION TO ENFORCE RULES! NOT WAIVERS!
SEC Commissioner Mark T. Uyeda from his statement on Form N-PORT and From N-CEN reporting: "I reject the premise that frequent public disclosure of consistent information made available for all funds is a โpublic good.โ"
Hester Peirce in her statement on the Adoption of Form N-PORT & N-CEN Reporting: "the Commission oversells the benefits of todayโs amendments and gives too little attention to the costs" "I cannot support this rulemaking."
Whistleblower Alert! The SEC awards $98 million to two whistleblowers, meaning the fine levied ranged between $326,666,666.67 and $980,000,000 dollars.
