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SEC Alert! Special filing with Federal Register: SEC submits notice for the 21st CLOSED door meeting this year via the Sunshine Act for 2:00 p.m. on Thursday, May 18, 2023.

Resolution of litigation claims and Other matters relating to examinations and enforcement proceedings to be considered. https://public-inspection.federalregister.gov/2023-10386.pdf CLOSED door meetings 2023: Meeting NumberDate215/18205/11195/4184/27174/20164/13154/6143/30133/23123/16113/9103/292/2382/1672/962/251/2641/1931/1221/911/5 Seems

SEC Alert! An OPEN meeting set for 5/17/23 at 10am to consider whether to propose a new rule regarding the contents of a covered clearing agency’s recovery and wind-down plan and whether to amend the margin requirements

SEC Commissioner Mark Uyeda: "To further illustrate my concerns, the SEC’s agenda includes over 50 items. This is very ambitious and on a scale that rivals the rule proposals issued in the aftermath of the global financial crisis."

https://www.sec.gov/news/speech/uyeda-21st-symposium-building-financial-05-11-2023 TLDRS: * "Examples of prudential regulation in the asset management sector include imposing capital requirements on asset managers and investment funds, designating non-bank firms as “systemically important” and subjecting them to heightened requirements, and instituting liquidity ratios and capital requirements for investment funds

Federal Reserve Governor Christopher J. Waller: "Fundamentally, financial stress emerges when someone is owed something and doesn't get paid back or becomes worried they won't be paid back."

https://www.federalreserve.gov/newsevents/speech/waller20230511a.htm TLDRS: * "Fundamentally, financial stress emerges when someone is owed something and doesn't get paid back or becomes worried they won't be paid back." * "The implication is that risks to financial stability have a couple of

SEC Alert! SEC Charges HSBC and Scotia Capital with Widespread Recordkeeping Failures.

The firms admitted that their employees often communicated “off-channel” about securities business matters on their personal devices, using messaging platforms, such as WhatsApp. Release: The Securities and Exchange Commission today charged HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. for widespread and longstanding failures by both firms and their

Bank Funding during the Current Monetary Policy Tightening Cycle: Banks Have Replaced Deposit Funding with Other Borrowing (FHLB, Primary Credit, BTFP).

Bank Funding during the Current Monetary Policy Tightening Cycle Stephan Luck, Matthew Plosser, and Josh Younger https://libertystreeteconomics.newyorkfed.org/2023/05/bank-funding-during-the-current-monetary-policy-tightening-cycle/ Trends in Aggregate Deposits and Borrowings We begin by describing the cumulative change in bank deposit funding and other sources of bank borrowing since the start of

SEC Chair Gary Gensler: "While the SEC oversees more than 7,000 public company issuers, there are around 50,000 municipal securities issuers. Strikingly, there are approximately one million different outstanding municipal securities"

https://www.sec.gov/news/speech/gensler-remarks-municipal-securities-disclosure-conference-051023 Highlights: * "Based on these authorities, in 1989 the Commission adopted—and as recently as in 2018 amended—Rule 15c2-12." * "The rule ensures that those acting as underwriters of municipal securities confirm that issuers agree to make continuous disclosures to investors,