Dismal's Smacks

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🧱 Market Reform

A request for extension of the previously approved collection of information for Rule 206(4)-6, the proxy voting rule, to address an investment adviser’s fiduciary obligation to clients who have given the adviser authority to vote their securities.

Wut Mean?: * The SEC has submitted a request to the Office of Management and Budget (OMB) to extend a previously approved information collection titled “Rule 206(4)-6” under the Investment Advisers Act. This proxy rule is about investment advisers who have the authority to vote on their client'

FINAL Rule for Money Market Fund Reforms; Form PF Reporting Requirements for Large Liquidity Fund Advisers; Technical Amendments to Form N-CSR and Form N-1A.

FINAL Rule for Money Market Fund Reforms; Form PF Reporting Requirements for Large Liquidity Fund Advisers; Technical Amendments to Form N-CSR and Form N-1A.

"Future stressed periods may be more protracted or more severe than in March 2020, particularly absent Federal Reserve action." Effective October 2nd Wut mean?: * The SEC has removed the ability for fund boards to stop money take-outs when their available cash gets too low. * Change in Liquidity Fees:

Proposal OPEN for comment that would make certain adjustments to the calculation of the capital surcharge for the largest and most complex banks, measuring a bank's systemic importance averaged over the entire year, instead of only at the year-end.

Proposal OPEN for comment that would make certain adjustments to the calculation of the capital surcharge for the largest and most complex banks, measuring a bank's systemic importance averaged over the entire year, instead of only at the year-end.

Source: https://www.federalreserve.gov/aboutthefed/boardmeetings/frn-gsib-20230727.pdf How to comment: * Submit comments by November 30, 2023. * Include: Docket No. (Still waiting for this) and RIN (still waiting for this) in your submissions. Methods: * Website: Go to http://www.federalreserve.gov and follow instructions at http://www.federalreserve.gov/

Rule Change to FINRA Rule 4210 (Margin Requirements): "the proposed rule is designed to protect FINRA"

Rule Change to FINRA Rule 4210 (Margin Requirements): "the proposed rule is designed to protect FINRA"

"FINRA stated that a given broker-dealer is not protected by the fact that another broker-dealer “up the chain” has already collected margin or taken a capital charge." Source: https://www.sec.gov/rules/sro/finra/2023/34-98003.pdf Background: * Most residential mortgages in the U.S. are pooled

CFTC Alert! CFTC Approves Final DCO Reporting and Information Requirement and Three Proposals at the Commission Open Meeting.

CFTC Alert! CFTC Approves Final DCO Reporting and Information Requirement and Three Proposals at the Commission Open Meeting.

CFTC Approves Final DCO Reporting and Information Requirement and Three Proposals at the Commission Open Meeting: update information requirements associated with commingling customer funds and positions in futures and swaps in the same account approved, among other items. Sources: * Final Rule: Reporting and Information Requirements for Derivatives Clearing Organizations * Proposed

SEC Alert! Upcoming 6-Month Regulatory Plan OPEN for comment! In final rule: shortening transaction cycle, swap requirements, Best Execution, and more! Comment on the agenda due by 8/26/23.

SEC Alert! Upcoming 6-Month Regulatory Plan OPEN for comment! In final rule: shortening transaction cycle, swap requirements, Best Execution, and more! Comment on the agenda due by 8/26/23.

https://public-inspection.federalregister.gov/2023-14566.pdf * SEC released the rulemaking agenda for Spring 2023. * This agenda represents the Chair's priorities, not necessarily the entire Commission's views. * The details were last updated on April 10, 2023, but they've tried to include recent changes. * The SEC

SEC Names Natasha Vij Greiner and Keith E. Cassidy Interim Acting Co-Directors of the Division of Examinations, effective immediately, while Division Director Richard Best is on extended medical leave.

Source: https://www.sec.gov/news/press-release/2023-137 The Securities and Exchange Commission today announced that Natasha Vij Greiner and Keith E. Cassidy have been named interim Acting Co-Directors of the Division of Examinations, effective immediately, while Division Director Richard Best is on extended medical leave from the agency. “My