Dismal's Smacks

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SEC Adopts Amendments to Exemption that will enhance FINRA oversight. Gary Gensler stated "monthly trading volume valued in the hundreds of billions of dollars" has led to a "regulatory gap" these amendments aim to close this gap.

SEC Adopts Amendments to Exemption that will enhance FINRA oversight. Gary Gensler stated "monthly trading volume valued in the hundreds of billions of dollars" has led to a "regulatory gap" these amendments aim to close this gap.

Press Release: The Securities and Exchange Commission today adopted rule amendments that narrow the exemption from Section 15(b)(8) of the Securities Exchange Act of 1934, which requires any broker or dealer registered with the Commission to become a member of a national securities association unless the broker or

FINRA Names Bill St. Louis as New Head of Enforcement. St. Louis will be responsible for the management of approximately 350 enforcement staff in 11 offices across the United States and will report directly to FINRA CEO Robert Cook.

FINRA Names Bill St. Louis as New Head of Enforcement. St. Louis will be responsible for the management of approximately 350 enforcement staff in 11 offices across the United States and will report directly to FINRA CEO Robert Cook.

Steps into the ongoing Instinet enforcement matter... https://www.finra.org/media-center/newsreleases/2023/finra-names-bill-st-louis-new-head-enforcement FINRA announced today that it has appointed Bill St. Louis as Head of Enforcement, effective immediately. St. Louis, an Executive Vice President, was most recently head of FINRA’s National Cause and Financial Crimes Detection

FICC is proposing a rule to collect MORE margin via a Portfolio Differential Charge that would be calculated twice a day. FICC's impact study shows that even with the PD Charge, 30 Members would still be un-margined during periods.

This charge needs to be MORE! Wut mean?: * FICC is introducing a new component, the PD Charge, to improve how it calculates the necessary deposit for the GSD Clearing Fund. * This change aims to reduce risks from the variations in a Member’s Margin Portfolio(s) that can happen between

FINRA: "Instinet experienced late reporting issues in connection with at least 26 billion events from November 2020 through December 2022"

FINRA: "Instinet experienced late reporting issues in connection with at least 26 billion events from November 2020 through December 2022"

Instinet had $50B of $67B waived in Excess Capital Premiums Waived over a 2 Year Period. Instinet also received a massive waiver on January 28, 2021. Wut Mean?: * Instinet was mandated to start reporting order data to the CAT Central Repository from June 22, 2020. * Instinet hired a third-party vendor

Here comes the brrr? China Evergrande collapse shows need for $1 trillion Beijing rescue plan, says Clocktower strategist.

source: https://www.marketwatch.com/story/china-evergrande-collapse-shows-need-for-1-trillion-beijing-rescue-plan-says-clocktower-strategist TLDRS: * Since mid-2021, companies accounting for 40% of Chinese home sales have defaulted, including Evergrande in late 2021, stoking fears about the resilience of the world’s second-largest economy. * This analyst said China may need to absorb some $1 trillion in soured real-estate

The Fed Brings Enforcement Action Against FTX-Linked Farmington State Bank, and its holding company, FBH Corporation. (The bank that had just 3 employees until SBF invested in it...)

The Fed Brings Enforcement Action Against FTX-Linked Farmington State Bank, and its holding company, FBH Corporation. (The bank that had just 3 employees until SBF invested in it...)

" Federal prosecutors have seized $50 million from the one-branch Farmington State Bank that they allege in court records were deposited there as part of FTX founder Sam Bankman-Fried’s wide-ranging scheme to defraud investors through his massive cryptocurrency exchange business. " https://www.spokesman.com/stories/2023/jan/24/

BTFP usage UP AGAIN (.4% to $107.242B vs $106.864B 8/9), marking the 11th consecutive week over $100B. This looks more and more like there's an over-reliance on Fed Funding--growing faster than inflation 'should be,' I believe the BTFP is a moral hazard!

BTFP usage UP AGAIN (.4% to $107.242B vs $106.864B 8/9), marking the 11th consecutive week over $100B. This looks more and more like there's an over-reliance on Fed Funding--growing faster than inflation 'should be,' I believe the BTFP is a moral hazard!

Hello & HAPPY almost Friday Superstonk! Borrowing from the Bank Term Funding Program hit a NEW all time high--the 11th consecutive week above $100 billion! What we are monitoring: 1. Bank Term Funding Program (BTFP) 2. Discount Window/Primary Credit 3. "Other Credit Extensions" I hope to shed