Dismal's Smacks

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🧱 Market Reform

FDIC/Fed/Comptroller of Currency Alert! Final Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts.

"The agencies have found that prudent CRE loan accommodations and workouts are often in the best interest of the financial institution and the borrower." Good afternoon friends! There is a ALOT in this review so I have tried to create 'Wut mean' sections along the way.

From Nov 2015 through at least Mar 2023, Credit Suisse reported to the Trade Reporting & Compliance Engine (TRACE) approximately 9,000 late trades, and OVER 500,000! inaccurate TRACE reports. Punishment? Censure & $900,000 fine.

Source: https://www.finra.org/sites/default/files/fda_documents/2018060924101%20Credit%20Suisse%20Securities%20%28USA%29%20LLC%20CRD%20No.%20816%20AWC%20gg.pdf OVERVIEW * From November 2015 through at least March 2023, Credit Suisse reported to the Trade Reporting and Compliance Engine (TRACE) approximately 9,000 late trades, primarily

Dave Lauer's comment letter on SEC proposal S7-06-22.

Source: https://twitter.com/dlauer/status/1673337420522176517 Reddit Post

SEC Alert! Reopening of Comment Period for Position Reporting of Large Security-Based Swap Positions--comments should be received before 8/21/23. Sample comment template inside.

https://public-inspection.federalregister.gov/2023-13447.pdf * Proposed Rule: S7-32-10 * Comments already submitted from industry and others: https://www.sec.gov/comments/s7-32-10/s73210.htm Previous Superstonk posts: * https://www.reddit.com/r/Superstonk/comments/148qy6y/sec_alert_sec_will_hold_a_public_meeting_on/ (Meeting announcement announcing this would be

Gary Gensler: " investing in a levered single-stock ETF may create exposures for investors that in many ways resemble buying shares on margin. Further, investing in an inverse single-stock ETF is meant to be similar to shorting a stock."

Source: https://www.sec.gov/news/speech/gensler-prepared-remarks-iac-06222023 Highlights: * The use of predictive data analytics, however, also can lead to potential conflicts. Conflicts may arise to the extent that advisers or brokers are optimizing for their own interests as well as others. * I have asked the staff to make recommendations

Options Clearing Corporation ("OCC") Alert! OPEN for comment: Proposed Rule Change by OCC Concerning Recovery and Orderly Wind-Down Plan ("RWD Pan").

How can the public comment when RWD Plan Supporting Information (Exhibit 3) & Recovery and Orderly Wind-Down Plan (Exhibit 5) is entirely [REDACTED]? https://www.sec.gov/rules/sro/occ/2023/34-97785.pdf https://www.theocc.com/getmedia/5b481175-5bf4-49e4-b8a5-90d640707c63/sr_occ_2023_005.pdf Purpose: * The RWD Plan was adopted

The Investment Adviser Association is requesting the SEC "step back and holistically consider the practical ramifications of the more than a dozen consequential new rules & proposals impacting advisers that the agency has issued since SEC Chair Gary"

The Investment Adviser Association is requesting the SEC "step back and holistically consider the practical ramifications of the more than a dozen consequential new rules & proposals impacting advisers that the agency has issued since SEC Chair Gary Gensler took office." They've commented, will you? Look