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SEC Alert! SEC Proposes to Expand and Update Regulation SCI to include registered security-based swap data repositories

all clearing agencies that are exempt from registration; and certain large broker-dealers, in particular, those that exceed a total assets threshold or a transaction activity. Proposed Rule (410 pages): The Securities and Exchange Commission (“Commission” or “SEC”) is proposing amendments to Regulation Systems Compliance and Integrity (“Regulation SCI”) under the

SEC Alert! Press Release SEC Proposes New Requirements to Address Cybersecurity Risks to the U.S. Securities Markets.

Proposed Rule (530 pages): Cybersecurity Risk Management Rule for Broker-Dealers, Clearing Agencies, Major Security-Based Swap Participants, the Municipal Securities Rulemaking Board, National Securities Associations, National Securities Exchanges, Security-Based Swap Data Repositories, Security-Based Swap Dealers, and Transfer Agents Finally, the Commission is proposing amendments to address the potential availability to security-based

CFTC Alert! Chairman Rostin Behnam: 'Underlying all of these themes is the need for our ruleset to address the derivatives industry’s current trajectory.' 'Several proposed rulemakings underway will aim to address these risks'

Source: https://www.cftc.gov/PressRoom/SpeechesTestimony/opabehnam33 I am going to include a few images from interesting sections of the speech with commentary, the full speech is below. enhancing risk management and resilience across intermediaries, exchanges, and derivatives clearing organizations Interesting. improving reporting and data policy Yeah, releasing that

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.