Daniel S. Kahl Appointed Acting Director of the Division of Examinations; Peter B. Driscoll to Depart Agency.
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๐ฐ News
Bank of England to crack down on 'secretive' cloud computing services. "That concentrated power on terms can manifest itself in the form of secrecy, opacity, not providing customers with the sort of information they need to monitor the risk in the service
Source: https://www.reuters.com/business/retail-consumer/bank-england-crack-down-secretive-cloud-computing-services-2021-07-13/
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The Federal Reserve Bank of New York (New York Fed) today updated its Statement of Compliance with the IOSCO Principles for Financial Benchmarks. This is a review of organizational & operational framework used to administer EFFR, OBFR, TGCR, BGCR, SOFR
Source: https://www.newyorkfed.org/medialibrary/media/markets/IOSCO-statement-of-compliance-jul2021
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FICC has been notified of J.P. Morgan Securities LLCโs intent to close its JSPQ Clearing and EPN accounts effective July 22, 2021. No further trade date submissions related to this account will be accepted. *Corrected image*
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On July 1, 2021, the U.S. Department of the Treasury provided supplementary formula guidance for preparing and submitting a report in accordance with Treasuryโs large position reporting (LPR) rules. Not sure if this has been posted?
Source: https://treasurydirect.gov/instit/statreg/gsareg/lpr-formula-guidance.pdf
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NSCC PROPOSED RULE CHANGE FILING โ MODIFICATION TO THE RULES & PROCEDURES OF NATIONAL SECURITIES CLEARING CORPORATION IN CONNECTION WITH THE IMPLEMENTATION OF SECTION 1446(F) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (SR-NSCC-2021-009)
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Under IRC section 1446(f), if the foreign partner has gain on the sale or exchange of a partnership interest, the purchaser/transferee of the partnership interest must withhold 10% of the amount realized on that sale or exchange, unless the transaction qualifies for a full or partial exception.
DTC Membership Update: Effective with the close of business on July 13, 2021 JPMorgan Chase Bank, National Association, #0902, will retire the following account: JPMORGAN CHASE BANK/CORPORATE MUNICIPAL DEALER.
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