Dismal's Smacks

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🧱 Market Reform

Computershare's letter on shortening the securities transaction settlement cycle: "we are concerned with the risk that broker-dealer practices and processes may restrict efficient access to the market for retail investors"

ComputerShare's letter on shortening the securities transaction settlement cycle: "we are concerned with the risk that broker-dealer practices and processes may restrict efficient access to the market for retail investors who exercise their right to be directly registered with the issuer" https://content-assets.computershare.com/eh96rkuu9740/

SEC & CFTC Reminder: TODAY SEC & CFTC to OPENLY consider, amongst other items, whether to adopt rules that are designed to prevent fraud, manipulation, deception in connection with transactions in security-based swaps

Good morning and HAPPY EARNINGS day Superstonk! Today is also a BIG day on the regulatory front and I wanted to reshare the details for today's OPEN meetings of SEC and CFTC in one place so folks can readily get at it--in case they would like to attend.

CFTC Alert! Updated Agenda for 6/7 OPEN Meeting. Final Rule: Governance Requirements for Derivatives Clearing Organizations (DCO), Proposed: DCO Recovery & Orderly Wind-down Plans, Amendments to Part 17 Large Trader Reporting Requirements

SEC Alert! The SEC will hold an OPEN Meeting on Wednesday, June 7, 2023 at 10:00 a.m. to consider whether to approve a proposed amendment to the CAT NMS Plan to implement a revised funding model for the consolidated audit trail (CAT) & to establish a fee

Would you like to know the net aggregate amount of any Payment For Order Flow received, profit-sharing relationship, transaction fees paid, & transaction rebates received for OTC securities?

FINRA delayed implementing a proposed rule from 12/6/2022 for this data until at least 8/3/23. How to comment * The proposed rule change was published for notice and comment in the Federal Register on December 6, 2022.7 June 4, 2023 is 180 days from that date,

CFTC Alert! CFTC approves Cboe Clear Digital, LLC to Clear Margined Digital Asset Futures. Order permits Cboe to provide clearing services for digital asset futures on a margined basis for futures commission merchants

Source: https://www.cftc.gov/media/8686/Cboe%20Clear%20Digital%20LLC-Amended%20Order%20of%20DCO%20Registration%206-5-2023/download This is on the Agenda for Wednesday's OPEN meeting, I guess they are just doing it? Statement of CFTC Commissioner Christy Goldsmith Romero Regarding Cboe Clear Digital, LLC’s Expanded Clearing

Federal Reserve Alert! Today a CLOSED meeting of the Board of Governors of the Federal Reserve held as it was determined that the public interest did not require opening the meeting.

Matter Considered: Review & determination of the advance and discount rates to be charged by the liquidity fairy. https://www.federalreserve.gov/aboutthefed/boardmeetings/20230605closed.htm Background on discount rates and what they could be talking about: Deposits at commercial banks has stabilized slightly, maybe? https://fred.stlouisfed.org/series/