Dismal's Smacks

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SEC Alert! The SEC will hold an OPEN Meeting on Wednesday, June 7, 2023 at 10:00 a.m. to consider, amongst other items, whether to adopt rules that are designed to prevent fraud, manipulation, and deception in connection with transactions

https://public-inspection.federalregister.gov/2023-11960.pdf MATTERS TO BE CONSIDERED: 1. The Commission will consider whether to adopt rules under the Securities Exchange Act of 1934 (“Exchange Act”) that are designed to prevent fraud, manipulation, and deception in connection with transactions in security-based swaps as well as to prevent the

Do y'all remember when Barclays offered and sold an unprecedented amount of securities— cumulatively totaling approximately $17.7 billion from June 26, 2019 - March 9, 2022 & the SEC ordered a $200,000,000 civil penalty?

SEC requests an extension until November 30, 2023 to submit plan on being paid. Source: https://www.sec.gov/litigation/admin/2023/34-97632.pdf In the Order, the Commission found that BBPLC failed to put into place any internal control around the real-time tracking of securities being offered or sold

FICC - MBS Alert! Capped Contingency Liquidity Facility (“CCLF®”) Reset Reminder: The reset will be effective as of July 1, 2023. "All members are reminded that CCLF requirement provided by MBSD will be incorporated into such Member’s liquidity planning."

https://www.dtcc.com/-/media/Files/pdf/2023/6/1/MBS1227-23.pdf This follows up on changes to the reset date and Look-Back Period: What is the Capped Contingency Liquidity Facility (“CCLF®”)? On April 25, 2017, the Commission approved FICC’s adoption of the Clearing Agency Liquidity Risk Management

Federal Reserve Announces Consent Order against Silvergate Bank: "Silvergate shall continue to fully cooperate with DFPI’s ongoing investigation into Silvergate’s relationship with FTX/Alameda and SEN transactions."

https://www.federalreserve.gov/newsevents/pressreleases/files/enf20230601a1.pdf Interesting, FTX/Alameda called out as the trigger: Effective immediately, the Company and the Bank shall not declare or pay dividends, engage in share repurchases, or make any other capital distribution in respect of common shares, preferred shares, or other capital

Self-Regulatory Organization Alert! Nasdaq ISE, LLC Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Delay the Implementation of Certain Trading Functionality impacting:

Routing, ATR and Repricing Rules, Complex Order Rules, and multiple functionalities. OPEN for comment! https://public-inspection.federalregister.gov/2023-11715.pdf https://listingcenter.nasdaq.com/assets/rulebook/ISE/filings/SR-ISE-2023-10.pdf Purpose: * In connection with a technology migration to an enhanced Nasdaq, Inc. (“Nasdaq”) functionality, the Exchange filed various rule changes

Schrödinger's labor market: ADP wallops expectations, adds 278,000 job in May (180,000 expected). Yet, initial jobless claims (232,000) are highest level since April. Nonetheless, wages are rising--adding more data for the justification for continued hike

https://fred.stlouisfed.org/series/ICSA https://adpemploymentreport.com/ REMEMBER Fed Governors have had this to say about Employment/Labor/Wages:5/8/23: Chicago Fed President Austan Goolsbee: 6:10 The job market and the credit conditions those are the two main things we want to be looking at

FTD Alert! Daily Total US Treasury Fails creep up during the month of May (averaging $35.77 billion per day), while Agency fails hit a 52 week High at $4.05 billion.

Source: https://www.dtcc.com/charts/daily-total-us-treasury-trade-fails What do these charts show? They show the value of U.S. Treasury securities that were not delivered to fulfill a trade contract. “Failures-to-deliver” occur when either sellers fail to deliver or buyers fail to receive securities in time to settle a trade.