Dismal's Smacks

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SEC Alert! SEC Proposes Changes to Reg S-P would require broker-dealers, investment companies, registered investment advisers, and transfer agents to provide notice to individuals affected by certain types of data breaches that may put them at risk

Proposed Rule (252 pages) The Securities and Exchange Commission (“Commission” or “SEC”) is proposing rule amendments that would require brokers and dealers (or “broker-dealers”), investment companies, and investment advisers registered with the Commission (“registered investment advisers”) to adopt written policies and procedures for incident response programs to address unauthorized access

SEC Alert! Statement by Chair Gary Gensler: 'history is replete with times when tremors starting at one financial institution or corner of the financial system spill out to the broader economy.'

Chair Gary Gensler: 'history is replete with times when tremors starting at one financial institution or corner of the financial system spill out to the broader economy. When this happens, the American public – bystanders to the highways of finance – inevitably gets hurt' Reddit Post

Inflation Alert! The purchasing power of the dollar continues to VANISH! In February, the purchasing power of $100 in January 2000 was $56.10.

Remember, CPI tracks the loss of the purchasing power of your dollars, and thereby the purchasing power of your hard earned labor. Source: https://fred.stlouisfed.org/series/CUUR0000SA0R We have lost .70 in purchasing power since November (56.8), February (56.1). Reddit Post

Federal Deposit Insurance Corporation (FDIC) Alert! Financial Institutions are Required to Meet Contractual Obligations with Bridge Banks.

All contracts entered into with banks before they failed, and their counterparties were transferred into the bridge bank by the FDIC as receiver. Source: https://www.fdic.gov/news/financial-institution-letters/2023/fil23010.html Summary: In recent days, the FDIC has established two bridge banks, Silicon Valley Bridge Bank, N.A.

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in February on a seasonally adjusted basis, after increasing 0.5 percent in January, the U.S.BLS reported today.

Source: https://www.bls.gov/news.release/cpi.nr0.htm Reddit Post

How did we get here? Reviewing the Fed's guidance and actions taken since SVB failed.

Good evening, resident jellyfish here! I have been seeing a few threads from folks trying to wrap their head around on how all of this has transpired with the banks over the past day or so: https://www.reddit.com/r/Superstonk/comments/11qrv9h/plz_elia_where_this_money_is_

NSCC Alert! Order Approving Proposed Rule Change to Adopt Intraday Volatility Charge and Eliminate Intraday Backtesting Charge.

See NSCC add an intraday volatility charge to its margin requirement and amend its margin requirements that relied on assumptions undercounting potential deficiencies. Source: https://www.sec.gov/rules/sro/nscc/2023/34-97129.pdf (Release No. 34-97129; File No. SR-NSCC-2022-009) March 13, 2023 Self-Regulatory Organizations; National Securities Clearing Corporation; Order