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SEC Alert! SEC announces The Options Clearing Corporation (OCC) will undertake remedial efforts and pay $17 million in penalties to settle charges that it failed to comply with its SEC-approved Stress Testing and Clearing Fund Methodology rule

SEC Order (pdf) Source: https://www.sec.gov/news/press-release/2023-31 The Securities and Exchange Commission today announced that The Options Clearing Corporation (OCC) will undertake remedial efforts and pay $17 million in penalties to settle charges that it failed to comply with its SEC-approved Stress Testing and Clearing Fund

Commodity Futures Trading Commission (CFTC) Alert! CFTC today issued an order to designate a unique product identifier and product classification system to be used in swap recordkeeping and reporting. More details inside.

* Federal Register (downloads pdf) * Commissioner Christy Goldsmith Romero Statement * Commissioner Caroline D. Pham Statement Press release: https://www.cftc.gov/PressRoom/PressReleases/8659-23 The Commodity Futures Trading Commission today issued an order to designate a unique product identifier and product classification system to be used in swap recordkeeping and reporting.

SEC Alert! Special filing with Federal Register: SEC submits notice for another CLOSED door meeting via Sunshine Act for 2:00 p.m. on Thursday, February 23, 2023.

Source: https://public-inspection.federalregister.gov/2023-03650.pdf The subject matter of the closed meeting will consist of the following topics: * Institution and settlement of injunctive actions; * Institution and settlement of administrative proceedings; * Resolution of litigation claims; and * Other matters relating to examinations and enforcement proceedings Reddit Post

SEC Alert! Commissioner Hester M. Peirce statement on SEC rules to shorten settlement cycle: 'I support the plan to move to T+1, but do not support the proposed timeline for making this change... I propose instead a September 3, 2024 implementation date.'

Source: https://www.sec.gov/news/statement/peirce-statement-settlement-cycle-021523 Thank you, Mr. Chair. And thank you to the staff in the Divisions of Trading and Markets, Economic and Risk Analysis, and Investment Management, and the Office of the General Counsel for your hard work on this rulemaking. I enjoyed our interactions

Commodity Futures Trading Commission (CFTC) Alert! Special filing with Federal Register: CFTC submits notice of CANCELLATION of the OPEN door meeting for today Wednesday, February 15, 2023 at 9:00 a.m. Swap data reporting was on the agenda for discussion.

SEC Alert! SEC today adopted rule changes to shorten the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date (T+2) to one (T+1).

Source documents: Final Rule (314 pages) Fact Sheet https://www.sec.gov/news/press-release/2023-29 Gary Gensler Tweet on it: https://twitter.com/GaryGensler/status/1625884241656414209 We just adopted rules & rule amendments to shorten the standard settlement cycle for most securities transactions. Taken together, these amendments will make our