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Senators reintroduce the Close the Shadow Banking Loophole Act

Senators reintroduce the Close the Shadow Banking Loophole Act, which would require nonbank companies that own an industrial loan company (ILC) to be subject to the same rules as traditional banks and close regulatory loopholes.

Fact Sheet: Press Release: Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, along with Senators John Kennedy (R-LA), Bob Casey (D-PA), Chris Van Hollen (D-MD), Mike Braun (R-IN), and Roger Wicker (R-MS) reintroduced the Close the Shadow Banking Loophole Act,

Hedge Fund liabilities hit a new all time high in 2023:Q2.

The Fed's Enhanced Financial Accounts (EFAs) on Hedge Funds: Hedge Fund liabilities hit a new all time high in 2023:Q2.

* This table shows the aggregate assets and liabilities of hedge funds that file Form PF with the Securities and Exchange Commission. * Unlike table B.101.f in the regular Financial Accounts publication, which reports assets and liabilities of domestic hedge funds only, this table presents data on all hedge funds

Real-Time Public Reporting and Swap Data Recordkeeping and Reporting Requirements

CFTC Approves Proposed Amendments to Regulations Regarding Real-Time Public Reporting and Swap Data Recordkeeping and Reporting Requirements

Background: The Commission’s real-time public reporting and swap data reporting regulations were first adopted in 2012, and are located in parts 43 and 45 of the Commission’s regulations. The 2012 Real-Time Public Reporting of Swap Transaction Data Final Rule (the “2012 RTR Final Rule”) set forth regulations that

Money Market Fund Repo and the ON RRP Facility

FEDS Notes: Money Market Fund Repo and the ON RRP Facility. Between 2021 and 2022, MMFs moved $2 trillion into the Fed's ON RRP, reducing their lending in the private repo market by nearly $500 billion.

Source: Hempel, Samuel J., Calvin Isley, R. Jay Kahn, and Patrick E. McCabe (2023). "Money Market Fund Repo and the ON RRP Facility," FEDS Notes. Washington: Board of Governors of the Federal Reserve System, December 15, 2023, https://doi.org/10.17016/2380-7172.3412. Between January 2021 and

New Rules

SEC Adopting Security-Based Swap (SBS) Execution and Registration and Regulation of Security-Based Swap Execution Facilities (SBSEFs) Rules. Would create a regime for the registration & regulation of SBSEFs & SBS execution issues.

* The Securities and Exchange Commission (“SEC” or “Commission”) is adopting a set of rules and forms under the Securities Exchange Act of 1934 (“SEA”) that would create a regime for the registration and regulation of security-based swap execution facilities (“SBSEFs”) and address other issues relating to security-based swap (“SBS”) execution

Commissioner Hester M. Peirce

Commissioner Hester M. Peirce: "I cannot support a budget and accounting support fee that are designed to support the PCAOB’s current approach to its mission."

Source: https://www.sec.gov/news/statement/peirce-statement-pcaob-budget-121323 Thank you, Mr. Chair. The Public Company Accounting Oversight Board (PCAOB) opened its doors in 2003[1] to promote “informative, accurate, and independent audit reports.”[2] We sit here, twenty years later, considering the PCAOB’s $385 million budget. We owe it

Credit Suisse Entities to Pay $10 Million for Providing Prohibited Mutual Fund Services

Without admitting or denying the allegations Credit Suisse Entities to Pay $10 Million for Providing Prohibited Mutual Fund Services.

* Section 9(a)(2) of the Investment Company Act prohibits individuals or entities from serving as investment advisers, depositors, or principal underwriters for registered investment companies if they are enjoined by a court from engaging in securities-related activities due to misconduct. * The Consent Order issued by the New Jersey Court