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Novel Activities Supervision Program

The Fed provides additional information on its program to supervise novel activities in the banks it oversees.

Novel activities include complex, technology-driven partnerships with non-banks to provide banking services to customers; & activities that involve crypto-assets, stablecoins & blockchain. Wut Mean?: * The Federal Reserve has launched the Novel Activities Supervision Program to boost oversight of new activities by banking organizations. * The focus is on activities related to

NSCC APPROVES Enhancements to the Gap Risk Measure & the VaR Charge. "should help NSCC better protect against more idiosyncratic risk scenarios in concentrated portfolios than the current methodology"

"Idiosyncratic" used 12 times... on characteristics that indicate that such ETFs are more or less prone to the effects of gap risk events, thereby providing more accurate coverage of the potential exposure arising from such positions. Wut Mean?: * NSCC handles clearing, settlement, risk management, and guarantees completion for

CFTC

CFTC Orders BNP Paribas ($75m), Société Générale ($75m), Wells Fargo ($75m), & Bank of Montreal ($35m) to pay a total of $260 Million for Recordkeeping and Supervision Failures for Widespread Use of Unapproved Communication Methods

* Order: BNP Paribas S.A., et al * Order: Société Générale SA, et al * Order: Wells Fargo Bank et, al * Order: Bank of Montreal * Statement of Commissioner Kristin Johnson * Statement of Commissioner Christy Goldsmith Romero Press Release The Commodity Futures Trading Commission today issued orders simultaneously filing and settling charges against

SEC Charges 11 Wall Street Firms with Widespread Recordkeeping Failures

SEC Charges 11 Wall Street Firms with Widespread Recordkeeping Failures and agreed to pay combined penalties of $289 million. Wedbush Securities, Houlihan Lokey, SMBC Nikko, SG Americas, Moelis, Wells Fargo, Mizuho, BMO, BNP Paribas

* SEC Order - Wedbush Securities Inc * SEC Order - Houlihan Lokey Capital Inc. * SEC Order - SMBC Nikko Securities America Inc. * SEC Order - SG Americas Securities LLC * Moelis & Company LLC * Wells Fargo Securities LLC, Wells Fargo Clearing Services LLC, and Wells Fargo … * Mizuho Securities USA LLC * BMO Capital

TheStreet: "Has GameStop Stock Been Targeted By Synthetic Short Positions? Retail investors speculate that financial institutions using derivative trading tools have targeted GameStop."

Source: https://www.thestreet.com/memestocks/gme/has-gamestop-stock-been-targeted-by-synthetic-short-positions Looks like they visit the sub?!?! https://www.reddit.com/r/Superstonk/comments/15gfu4z/archegos_swaps_submitted_to_court_with_big/ Following these significant events in 2021, the SEC has been scrutinizing the transparency of trading structures and advocating for greater disclosure

Whistleblower Alert! SEC Awards More Than $104 Million to Seven Whistleblowers the fourth largest in the SEC’s whistleblower program’s history.

Whistleblower Alert! SEC Awards More Than $104 Million to Seven Whistleblowers the fourth largest in the SEC’s whistleblower program’s history.

Since the award can range from 10% to 30% of the fine, the award given is somewhere in this range: * Given that the award is $104 million, the equation could be represented as: * 0.10x≤$104 million * 0.30x≥$104 million * The fine for this award ranged between $346.67

ICE Clear Europe Limited Approves Rule Change for Collateral & Haircut Procedures: "allocated gold would give ICE Clear Europe an interest in specific bars of gold, rather than an interest in shared pool of bars of gold."

Only 'DRS'd' Gold counts as collateral, no more IOUs! Wut Mean?: * ICE Clear Europe is registered to clear security-based swaps and requires its Clearing Members to transfer assets, like cash, as collateral to manage risks from positions they clear. * This collateral is termed "Initial Margin&