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NY Fed Survey: Expected likelihood of becoming unemployed rises. Meanwhile, conditional on expecting an offer, the average expected annual salary in the next 4 months increased sharply to $67,416 from $60,310 in July 2022, a new record.

NY Fed Survey: Expected likelihood of becoming unemployed rises. Meanwhile, conditional on expecting an offer, the average expected annual salary in the next 4 months increased sharply to $67,416 from $60,310 in July 2022, a new record.

Mean July 2022 $60,764 Wages on offers grew 14.3% year over year. The Fed is not going to like this for inflation! Mean wage July 2022:$60,310 Expectations of working longer rising... Wut Mean?: * The average full-time offer wage received rose sharply to $69,475. * The average
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
SEC Adopts Amendments to Exemption that will enhance FINRA oversight. Gary Gensler stated "monthly trading volume valued in the hundreds of billions of dollars" has led to a "regulatory gap" these amendments aim to close this gap.

SEC Adopts Amendments to Exemption that will enhance FINRA oversight. Gary Gensler stated "monthly trading volume valued in the hundreds of billions of dollars" has led to a "regulatory gap" these amendments aim to close this gap.

Press Release: The Securities and Exchange Commission today adopted rule amendments that narrow the exemption from Section 15(b)(8) of the Securities Exchange Act of 1934, which requires any broker or dealer registered with the Commission to become a member of a national securities association unless the broker or
dismal-jellyfish ๐Ÿงฑ Market Reform
FINRA Names Bill St. Louis as New Head of Enforcement. St. Louis will be responsible for the management of approximately 350 enforcement staff in 11 offices across the United States and will report directly to FINRA CEO Robert Cook.

FINRA Names Bill St. Louis as New Head of Enforcement. St. Louis will be responsible for the management of approximately 350 enforcement staff in 11 offices across the United States and will report directly to FINRA CEO Robert Cook.

Steps into the ongoing Instinet enforcement matter... https://www.finra.org/media-center/newsreleases/2023/finra-names-bill-st-louis-new-head-enforcement FINRA announced today that it has appointed Bill St. Louis as Head of Enforcement, effective immediately. St. Louis, an Executive Vice President, was most recently head of FINRAโ€™s National Cause and Financial Crimes Detection
dismal-jellyfish ๐Ÿ“ฐ News

FICC is proposing a rule to collect MORE margin via a Portfolio Differential Charge that would be calculated twice a day. FICC's impact study shows that even with the PD Charge, 30 Members would still be un-margined during periods.

This charge needs to be MORE! Wut mean?: * FICC is introducing a new component, the PD Charge, to improve how it calculates the necessary deposit for the GSD Clearing Fund. * This change aims to reduce risks from the variations in a Memberโ€™s Margin Portfolio(s) that can happen between
dismal-jellyfish ๐Ÿงฑ Market Reform

Here comes the brrr? China Evergrande collapse shows need for $1 trillion Beijing rescue plan, says Clocktower strategist.

source: https://www.marketwatch.com/story/china-evergrande-collapse-shows-need-for-1-trillion-beijing-rescue-plan-says-clocktower-strategist TLDRS: * Since mid-2021, companies accounting for 40% of Chinese home sales have defaulted, including Evergrande in late 2021, stoking fears about the resilience of the worldโ€™s second-largest economy. * This analyst said China may need to absorb some $1 trillion in soured real-estate
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
The Fed Brings Enforcement Action Against FTX-Linked Farmington State Bank, and its holding company, FBH Corporation. (The bank that had just 3 employees until SBF invested in it...)

The Fed Brings Enforcement Action Against FTX-Linked Farmington State Bank, and its holding company, FBH Corporation. (The bank that had just 3 employees until SBF invested in it...)

" Federal prosecutors have seized $50 million from the one-branch Farmington State Bank that they allege in court records were deposited there as part of FTX founder Sam Bankman-Friedโ€™s wide-ranging scheme to defraud investors through his massive cryptocurrency exchange business. " https://www.spokesman.com/stories/2023/jan/24/
dismal-jellyfish ๐Ÿ“‰ FTX ๐Ÿ“‰