Dismal's Smacks

🌙 ☀️

Sign in Subscribe

🧱 Market Reform

Federal Reserve Alert and Government in the Sunshine Meeting Notice Alert! Closed Board Meeting on July 12, 2023 at 10 a.m. Matter(s) to be Considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure.

Source: https://www.federalreserve.gov/aboutthefed/boardmeetings/20230712closed.htm Closed Board Meeting on July 12, 2023 Matter(s) to be Considered: Periodic Briefing and Discussion on Financial Markets, Institutions, and Infrastructure. Wut mean? (a guess) A briefing on the financial markets (any marketplace where the trading of securities occurs, including

Fed Vice Chair for Supervision Michael S. Barr Proposes Major Banking Regulation Overhaul.

Proposed changes aim to make banks more cautious in lending and trading practices by requiring them to hold more capital & wouldn't be able to use their own models for certain hard-to-model market risks. Source: https://www.federalreserve.gov/newsevents/speech/barr20230710a.htm Highlights: Barr's speech

SEC Commissioner Mark T. Uyeda is "disappointed that the SEC staff has decided not to extend the MiFID II Relief".

MiFID II Relief, allowed broker-dealers to receive separate payments for research without being subjected to regulation as investment advisers. This relief expired on July 3, 2023. Source: https://www.sec.gov/news/statement/uyeda-statement-staff-no-action-letter-07-05-2023 https://www.sec.gov/news/statement/uyeda-statement-staff-no-action-letter-07-05-2023 Wut Mean? Mark is big mad regarding the expiration

FINRA Alert & OPEN for comment! Proposed Rule Lets Bosses Work from Home & Ditch Annual Office Inspections in new Residential Supervisory Location (“RSL”).

FINRA proposes bosses treat home offices like the office but without all of the pesky supervision activities that come with the office! Source: https://www.sec.gov/rules/sro/finra/2023/34-97839.pdf Background: * Currently under FINRA rules, a private residence at which certain supervisory functions occur would need to

FINRA Alert! Without admitting or denying the findings, from January 2019 through February 2021, Public Investing did not conduct reasonable reviews of the execution quality of its customers' orders or disclose receipt of Payment for Order Flow (PFOF).

FINRA "Punishment"? Censure and $500,000 fine. Source: https://www.finra.org/sites/default/files/fda_documents/2020065340901%20Open%20to%20the%20Public%20Investing%2C%20Inc.%20CRD%20127818%20AWC%20lp.pdf FINRA's Best Execution Rule: Broker-dealers have a longstanding and fundamental obligation to seek "best execution&

Commodity Futures Trading Commission (CFTC) Alert! CFTC submits special filing via the Sunshine Act for a CLOSED door virtual meeting at 9:00 a.m. EDT, Friday, July 14, 2023 to consider ENFORCEMENT matters.

Source: https://public-inspection.federalregister.gov/2023-14508.pdf MATTERS TO BE CONSIDERED: Enforcement matters. In the event that the time, date, or location of this meeting changes, an announcement of the change, along with the new time, date, and/or place of the meeting will be posted on the Commission’s

CFTC Alert! OPEN for comment: CFTC is seeking to continue collection of Swap Dealers and Swap participants, Swap Data Recordkeeping and Reporting Requirements, Swap Dealer and Major Swap Participant Conflicts of Interest and Business Conduct Standards

Good afternoon Superstonk! The Commodities Futures Trading Commission has 3 notices surrounding Swaps that can be commented on, let's dig in! OMB Control No. 3038-0072 applies to the Registration Forms for registration of swap dealers and major swap participants: https://public-inspection.federalregister.gov/2023-14251.pdf How to comment: