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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

Federal Reserve Alert! Federal Reserve Board releases annual audited financial statement: In 2022 the Fed paid $42 billion in interest to counterparties of reverse repos.

Today the Fed released it's audited financial statement for 2022: https://www.federalreserve.gov/newsevents/pressreleases/other20230324a.htm KPMG It's worth noting that the Fed's audit firm, KPMG, has been involved in numerous scandals, including the use of stolen regulatory information to cheat on
dismal-jellyfish 📰 News