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CFTC submits special filing to consider litigation matters

CFTC submits a special filing at 4:15 p.m. for a CLOSED meeting that occurred today at 4:00 p.m. to consider litigation matters.

The Commodity Futures Trading Commission (CFTC) held a closed meeting today at 4:00 p.m. to address litigation matters. A special filing regarding the meeting was submitted at 4:15 p.m. No further details about the litigation matters discussed were provided but it is always curious when they

S&P Global: US bankruptcy filings spiked in August

S&P Global: US bankruptcy filings spiked in August (63) after a July slowdown, leading to the highest total for the first eight months of the year since 2020 and the second-highest since 2010.

US bankruptcy filings surged in August after a slowdown in July, reaching the highest total for the first eight months of the year since 2020, according to data from S&P Global Market Intelligence. A total of 63 public and certain private companies filed for bankruptcy in August, up

SEC announces settled charges against 7 public companies

SEC announces settled charges against 7 public companies for using employment, separation, and other agreements that violated rules prohibiting actions to impede whistleblowers from reporting potential misconduct to the SEC.

The Securities and Exchange Commission (SEC) announced today that it has settled charges with seven public companies for using employment, separation, and other agreements that violated SEC rules designed to protect whistleblowers. These agreements impeded employees from reporting potential misconduct to the SEC. As part of the settlement, the companies

NSCC's got a "rule for throwing out rules". So we're going to throw out their rule, for throwing out rules. You in? 😃

NSCC's got a "rule for throwing out rules". So we're going to throw out their rule, for throwing out rules. You in? 😃

NSCC's Rule 22 lets officials change/ignore rules at will and skip actions like closing failing trades (e.g., GME) if it might "disrupt the market". These changes don’t need full public disclosure and can last up to 60 days without extra approval. Awful, right? Send your petition!

The vast majority of community banks (96.7%) reported unrealized losses on securities.

FDIC Second Quarter Quarterly Banking Profile: "The vast majority of community banks (96.7%) reported unrealized losses on securities."

Today the FDIC released second quarter financial results in its latest Quarterly Banking Profile published today. U.S. commercial banks and savings institutions insured by the FDIC reported $71.5 billion in net income for Q2 2024, a $7.3 billion (11.4%) increase from the previous quarter, driven by

Patrick Harker’s tenure will conclude on June 30, 2025

Philadelphia Fed launches search for its next president and CEO, as current president and CEO Patrick Harker’s tenure will conclude on June 30, 2025.

The Federal Reserve Bank of Philadelphia has begun its search for a new president and CEO to succeed Patrick T. Harker, whose tenure will end on June 30, 2025. A committee of eligible Philadelphia Fed board members, in accordance with Federal Reserve policies, will lead the search, chaired by Anthony

Multivariate Core Trend (MCT) inflation increased to 2.5% in July from 2.2% in June.

Multivariate Core Trend (MCT) inflation increased to 2.5% in July from 2.2% in June. The MCT gauges inflation’s persistence across 17 core sectors of the personal consumption expenditures (PCE) price index.

Inflation measured by the Multivariate Core Trend (MCT) model increased to 2.5% in July, up from a revised 2.2% in June, signaling growing inflationary pressure. The MCT, which gauges inflation’s persistence across 17 core sectors of the personal consumption expenditures (PCE) price index, indicated that the probability

S&P Global: The delinquency ratio for CRE loans across US banks rose 16 basis points in Q2 to 1.40%

S&P Global Market Intelligence: Commercial real estate loan delinquencies reaccelerate as loan growth slows. The delinquency ratio for CRE loans across US banks rose 16 basis points in Q2 to 1.40%

According to data from S&P Global Market Intelligence, the delinquency rate for commercial real estate (CRE) loans across U.S. banks increased to 1.40% in the second quarter, reflecting ongoing stress in the office sector. CRE borrowers are under pressure from higher interest rates as loans mature,

SEC Charges 6 Credit Rating Agencies with significant recordkeeping failures.

SEC Charges 6 Credit Rating Agencies with significant recordkeeping failures. The Firms admit to wrongdoing and agree to pay penalties totaling more than $49 million to settle SEC charges.

The Securities and Exchange Commission (SEC) announced charges against six nationally recognized statistical rating organizations (NRSROs) for failing to maintain and preserve electronic communications as required by federal securities laws. The firms admitted to the violations, agreed to pay over $49 million in combined civil penalties, and have begun implementing

NSCC Rule 22 For Throwing Out Rules, Procedures, and/or Regulations

PETITION TO ENFORCE RULES! NOT WAIVERS!

Ever felt cheated in the Wall St casino? You probably were. We've been robbed and the rules of Wall St's casino allows them to. The National Securities Clearing Corporation (NSCC), which clears and settles stock trades, has a Rule for throwing out rules [NSCC Rules]. The

SEC Commissioner Mark T. Uyeda from his statement on Form N-PORT and From N-CEN reporting: "I reject the premise that frequent public disclosure of consistent information made available for all funds is a “public good.”"

SEC Commissioner Mark T. Uyeda from his statement on Form N-PORT and From N-CEN reporting: "I reject the premise that frequent public disclosure of consistent information made available for all funds is a “public good.”"

Just as SEC Commissioner Hester Peirce, SEC Commissioner Mark Uyeda dissents against the SEC's Form N-PORT and Form N-CEN reporting amendments. Uyeda has criticized the SEC’s decision to increase the frequency of public disclosure of fund portfolio data, arguing that the move could harm fund investors and

CFTC Awards Over $4 Million to Insider Whistleblower

CFTC Awards Over $4 Million to Insider Whistleblower, meaning the fine levied ranged between $13.33 million to $40 million.

The Commodity Futures Trading Commission (CFTC) announced an award of over $4 million to an insider whistleblower whose information led to the opening of an investigation into ongoing misconduct, meaning the fine levied ranged between $13,333,333.33 - $40,000,000.00 million. The whistleblower, who had detailed

Hester Peirce "I cannot support this rulemaking."

Hester Peirce in her statement on the Adoption of Form N-PORT & N-CEN Reporting: "the Commission oversells the benefits of today’s amendments and gives too little attention to the costs" "I cannot support this rulemaking."

SEC Commissioner Hester Peirce Criticizes New Fund Reporting Rules for 'High Costs' and 'Limited Benefits': In her statement on adoption of Form N-PORT and Form N-CEN reporting, SEC Commissioner Hester Peirce voiced strong opposition to the SEC's newly adopted amendments to fund reporting rules.

Real gross domestic product (GDP) increased at an annual rate of 3.0% in Q2:2024

Real gross domestic product (GDP) increased at an annual rate of 3.0% in Q2:2024, according to the "second" estimate released by the U.S. Bureau of Economic Analysis, which was up from 2.8% in the 'advance' estimate.

U.S. GDP grows at 3.0% in Q2 2024, reflecting strong consumer spending: The U.S. economy grew at an annual rate of 3.0% in the second quarter of 2024, according to the "second" estimate released by the U.S. Bureau of Economic Analysis. This marks