Latest

Federal Reserve Alert! Testimony by Vice Chair for Supervision Michael S. Barr on bank oversight before the U.S. Senate Committee on Banking, Housing, and Urban Affairs: "Our banking system is sound and resilient, with strong capital and liquidity."

Source: https://www.federalreserve.gov/newsevents/testimony/barr20230328a.htm Our banking system is sound and resilient, with strong capital and liquidity. The Federal Reserve, working with the Treasury Department and the Federal Deposit Insurance Corporation (FDIC), took decisive actions to protect the U.S. economy and to strengthen public confidence
dismal-jellyfish 📈 Macroeconomics

Commodity Futures Trading Commission (CFTC) Alert! CFTC Charges Binance and Its Founder, Changpeng Zhao, with Willful Evasion of Federal Law and Operating an Illegal Digital Asset Derivatives Exchange.

Complaint: Binance Holdings Limited et, al Examples of Market Participants Currently Trading on Binance and Binance’s Efforts to Help Them Evade Its Compliance Controls: Trading Firm B: Trading Firm C CFTC Press Release: https://www.cftc.gov/PressRoom/PressReleases/8680-23 The Commodity Futures Trading Commission today announced it has
dismal-jellyfish 📰 News

Options Clearing Corporation (OCC) Alert! [OPEN FOR COMMENT] Order Instituting Proceedings to Determine Whether to Approve/Disapprove a Proposed Rule Change Concerning the Options Clearing Corporation’s Collateral Haircuts and Standards for Clearing Banks

Source: https://public-inspection.federalregister.gov/2023-06195.pdf Introduction * On December 5, 2022, the Options Clearing Corporation (“OCC”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change SROCC-2022-012 (“Proposed Rule Change”). * To change rules, policies, and procedures regarding collateral haircuts, minimum standards for clearing banks and letter-of-credit issuers,
dismal-jellyfish 📰 News

SEC Alert! SEC proposes (OPEN for comment) to continue collecting information for “Rule 206(4)-6”: the proxy voting rule, to address an investment adviser’s fiduciary obligation to clients who have given the adviser authority to vote their securities.

Source: https://public-inspection.federalregister.gov/2023-06173.pdf Rule 206(4)-6 The title for the collection of information is “Rule 206(4)-6” under the Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.) (“Advisers Act”) and the collection has been approved under OMB Control No. 3235-0571.
dismal-jellyfish 📰 News

CFTC Alert! CFTC proposes (OPEN for comment) to continue collecting information required under both the Final Rule and the Aggregation Rule to establish limits on speculative positions, to prevent the harms caused by speculation

Source: https://public-inspection.federalregister.gov/2023-06308.pdf https://public-inspection.federalregister.gov/2023-06308.pdf Final Rule * In 2021, the Commission issued a final rule on position limits that implemented CEA section 4a and established the Commission’s new position limits regime found in part 150 of the Commission’s Regulations (“Final
dismal-jellyfish 📰 News

Inflation Alert! 'certain mutual funds hold large amounts of relatively illiquid corporate bonds but provide investors the option to redeem shares on a daily basis. This liquidity mismatch makes these funds more vulnerable to runs'

'certain mutual funds hold large amounts of relatively illiquid corporate bonds but provide investors the option to redeem shares on a daily basis. This liquidity mismatch makes these funds more vulnerable to runs which could force rapid liquidation of bonds at firesale prices' Good morning Superstonk, I hope
dismal-jellyfish 📈 Macroeconomics