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SEC Alert & OPEN for Comment Alert! SEC Proposes Rule to Address Volume-Based Exchange Transaction Pricing for NMS Stocks.
Background:
National securities exchanges (“exchanges”) that trade NMS stocks maintain pricing schedules that set forth the transaction pricing they apply to their broker-dealer members that execute orders on their trading platforms. As self-regulatory organizations under the Exchange Act, exchanges are subject to unique principles and processes that do not apply
Inflation Alert! Social Security Announces 3.2% Benefit Increase for 2024. Today, September CPI reported 3.7% over the past year. The increase eaten by inflation!
Wut Mean?
* Social Security and Supplemental Security Income (SSI) benefits for more than 71 million Americans will increase 3.2 percent in 2024.
* The 3.2 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 66 million Social Security beneficiaries in January 2024. Increased payments to approximately
Fed's Michael Barr: The rise in required capital is for activities that have generated outsized losses at large banks & areas where current rules have shortcomings.
Highlights:
* "Most of the banks represented in this room today—and the vast majority of banks in the country—would not be subject to the Board's recent "endgame" proposal on bank capital. The proposal affects only the very largest banks."
* "The proposal is projected to raise capital for large banks.