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SEC Adopts Rules to Improve Clearing Agency Governance and Mitigate Conflicts of Interest

SEC Adopts Rules to Improve Clearing Agency Governance and Mitigate Conflicts of Interest.

File Number: S7-21-22 Rule Type: Final Release Number: 34-98959 SEC Issue Date: Nov. 16, 2023 Effective Date: 60 days after publication in the Federal Register Fact Sheet: Press Release: The Securities and Exchange Commission has adopted new rules to improve the governance of all registered clearing agencies by reducing the

NSCC Alert! Year 2024 Obligation Warehouse (FTD Grave Yard) RECAPS Schedule Announced.

NSCC Alert! Year 2024 Obligation Warehouse (FTD Grave Yard) RECAPS Schedule Announced.

What is the Obligation Warehouse?: Obligation Warehouse (OW) is a non-guaranteed, automated service of NSCC that facilitates the matching of broker-to-broker ex-clearing trades and provides Members with the ability to track, manage and resolve their failed obligations in real-time. About: OW facilitates the matching of obligations submitted by Members for

Joint Statement by Vice Chairman Travis Hill and Director Jonathan McKernan on FDIC Workplace Culture

FDIC Alert! After a call out in the WSJ for a 'Toxic atmosphere' full of strip clubs, dick pics, & booze, FDIC releases statement on 'Workplace culture'.

Earlier this week, the Wall Street Journal called out the FDIC's toxic work environment: This was also picked up by u/chikaca over at r/Superstonk: It has taken a couple of days but this morning, Vice Chairman Travis Hill and Director Jonathan McKernan released a joint statement

$3,132,539,000 (+$486,854,000 since September 30) in interest to survive another day...

As of 10/31/23 total outstanding amount of all advances from the liquidity fairy under the Bank Term Funding Program was $120,605,902,000. $3,132,539,000 (+$486,854,000 since September 30) in interest to survive another day...

Date Amount outstanding Pledged collateral Interest paid 3/15 $11,942,528,000 $15,855,798,000 $662,000 3/31 $64,595,880,000 $79,569,489,000 $93,568,000 4/30 $83,061,693,000 $104,229,674,000 $369,957,000 5/31 $107,376,686,

Enforcement Summary Chart for FY 2023 by Primary Classification

SEC Alert! SEC Announces Enforcement Results for Fiscal Year 2023: 784 enforcement actions, obtained orders for nearly $5 billion in financial remedies, and distributed nearly $1 billion to harmed investors.

Reminder, for FY 2023 CFTC: 96 enforcement actions charging fraud, manipulation, & other significant violations in diverse markets, including digital assets & swaps markets resulting in over $4.3 billion in penalties, restitution and disgorgement... Press Release: The Securities and Exchange Commission today announced that it filed 784 total enforcement

Order Approving Proposed Rule Change Relating to the Schedule of Haircuts for Eligible Clearing Fund Securities

NSCC Alert! New Haircut schedule APPROVED by the commission & effective within 60 days of 11/8/23. Why? IDIOSYNCRATIC RISK!

We have talked about this before and I was confused about timing (sorry!), as the item published in the federal register was for an additional waiting period for comments before being approved by the commission (which it was 11/8) 60 days from November 8, 2023, falls on January 7,

FDIC to host an OPEN meeting 11/16/23

FDIC Alert! FDIC to host an OPEN meeting 11/16/23. Discussion Agenda: Memorandum and resolution re: Final Rule on Special Assessment Pursuant to Systemic Risk Determination.

Interestingly, on 12/5/23 there is an OPEN meeting scheduled of the Systemic Resolution Advisory Committee to be held. The agenda will include a discussion of a range of issues & developments related to the resolution of systemically important financial companies. TLDRS: * FDIC to host an OPEN meeting 11/