NSCC Alert! NSCC PROPOSED RULE CHANGE โ ADOPTION OF INTRADAY VOLATILITY CHARGE AND ELIMINATION OF INTRADAY BACKTESTING CHARGE (SR-NSCC-2022-009)
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SEC Alert! SEC votes unanimously to finalize rule amendments to require the electronic filing of certain documents that previously were submitted on paper by investment advisers, institutional investment managers, and others.
Source: https://www.sec.gov/news/statement/gensler-statement-electronic-filing-requirements-062322
Today, the Commission voted unanimously to finalize rule amendments to require the electronic filing of certain documents that previously were submitted on paper by investment advisers, institutional investment managers, and others. The rule also updates the substance of quarterly reports on Form
Dr T on Twitter: Hard to understand why Issuers still allow this in underwriting agreements: "In connection with this underwriting, UNDERWRITERS MAY OVERALLOT [trade more than we offer) to MAINTAIN THE MARKET PRICE AT A LEVEL ABOVE THAT WHICH MIGHT..
Dr T on Twitter: Hard to understand why Issuers still allow this in underwriting agreements: "In connection with this underwriting, UNDERWRITERS MAY OVERALLOT [trade more than we offer) to MAINTAIN THE MARKET PRICE AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL." [false price support]
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S&P Global Services Survey Alert! US economy slows sharply amid renewed downtrend in demand as PMI falls to 51.6 in June vs. 53.4 in May.
According to the survey, inflation is forcing consumers to cut back on goods (not services) and interest rates are causing concern of a recession
Source (data collected June 13-22)
Key findings:
(any number over 50 signifies expansion and readings below that mark point to economic contraction)
* Flash US PMI Composite
'The market could reach an โinvestableโ bottom after analysts cut earnings estimates' - Jim Cramer 6/23/22
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Federal Reserve Alert! Federal Reserve Board releases results of annual bank stress test, which according to the Fed shows that banks continue to have 'strong capital levels'
Source: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20220623a.htm
The Federal Reserve Board on Thursday released the results of its annual bank stress test, which showed that banks continue to have strong capital levels, allowing them to continue lending to households and businesses during a severe recession.
All banks tested
SEC Alert! Commissioner Hester M. Peirce comments: Rip Current Rulemakings: Statement on the Regulatory Flexibility Agenda
Source
Chair Genslerโs Regulatory Flexibility Agenda[1] for the Securities and Exchange Commission sets forth flawed goals and a flawed method for achieving them. The agenda, if enacted, risks setting off the regulatory version of a rip currentโfast-moving currents flowing away from shore that can be fatal to