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FDIC board of directors establishes special committee to oversee independent review of agency culture.

After WSJ call out for 'toxic atmosphere' full of strip clubs, dick pics, & booze, the FDIC board of directors establishes special committee to oversee independent review of agency culture.

As we covered last week, the Wall Street Journal called out the FDIC's toxic work environment. Today, they announce an independent review of Agency Culture. The Federal Deposit Insurance Corporation (FDIC) Board of Directors today announced the establishment of a special committee of the Board to oversee an

CFTC's Market Risk Advisory Committee to meet on 12/11

CFTC's Market Risk Advisory Committee to meet on 12/11 to address central counterparty risk and governance, market structure developments, and innovative & emerging technologies affecting the derivatives & related financial markets.

Meeting details: What: Market Risk Advisory Committee Meeting Location: (in person/virtual) CFTC Headquarters (Conference Center) Three Lafayette Center 1155 21st Street N.W. Washington, D.C. *Virtual instructions below When: Monday, December 11, 2023 9:30 a.m. – 12:30 p.m. EST Viewing/Listening Instructions: Members of the

Relating to the GSD and MBSD Schedules of Haircuts for Eligible Clearing Fund Securities

FICC & MBSD also have a new Haircut Schedule effective 12/4/23.

Background: Wut Mean?: FICC's Role: * Acts as a central counterparty. * Provides clearance and settlement services for U.S. government and mortgage-backed securities. Margin Collection: * Collects daily margin from members to manage credit exposure. * GSD and MBSD Clearing Funds created from aggregated margins. Purpose of Clearing Fund: * Mitigates potential

Proposed Rule Change

NSCC proposes updating MLA charge by moving all exchange traded products (other than those deemed to be Illiquid Securities) into the equities asset group & calculating impact cost at the security level along with ETF tweaks.

Purpose: Wut Mean?: These proposed changes aim to make the calculation of the MLA charge more accurate, particularly in the context of liquidating exchange-traded products and equity ETFs. Refinement of Calculation: * The proposal includes refining how the MLA (Market Liquidity Adjustment) charge is calculated for liquidating securities or portfolios. Changes

William Birdthistle Director, Division of Investment Management

SEC's Birdthistle: "The population of private funds in this country stands currently at almost 100,000, approximately 54,000 of which are advised by SEC-registered investment advisers and 40,000 by SEC-exempt reporting advisers."

Highlights: * "The population of private funds in this country stands currently at almost 100,000, approximately 54,000 of which are advised by SEC-registered investment advisers and 40,000 by SEC-exempt reporting advisers." * "The former comprise more than $21 trillion in gross assets under management; the latter,

Request for Comments Regarding Statement of Priorities for Fiscal Year 2024-2025

OPEN for comment: OSC (Canada's SEC) seeks comment on priorities for 2024-2025--including short selling and dispute resolution.

Wut Mean?: The Ontario Securities Commission (OSC) is seeking feedback from stakeholders on its proposed Statement of Priorities for 2024-2025 (SoP), which will guide business planning for the fiscal year. The SoP sets out the priority initiatives on which the OSC intends to focus its resources and actions. Each year

Summary of responses and comments to CSA/IIROC Staff Notice 23-329 Short Selling in Canada.

The Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) today published a summary of responses and comments to CSA/IIROC Staff Notice 23-329 Short Selling in Canada.

Comments: Wut Mean?: * The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC/CIRO) published Staff Notice 23-329, requesting public feedback on short selling regulations. * They received 23 comments from various stakeholders. The comments showed no consensus on the ideal regulatory regime for short selling, ranging