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SEC Alert! SEC Charges Audit Firm Marcum LLP for Widespread Quality Control Deficiencies. The firm has agreed to pay a $10 million penalty... in 2020/2021 there were 860 SPAC IPOs. Over 400 of these audited by Marcum.

https://www.sec.gov/litigation/admin/2023/34-97773.pdf TLDRS: * The SEC has charged audit firm Marcum LLP with significant quality control failures and audit standard violations in audits of hundreds of SPAC clients since 2020. * This misconduct resulted from Marcum tripling its public company clients, mainly SPACs, thereby revealing

Inflation Alert! Jerome Powell to Congress: "Nearly all FOMC participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year."

"inflation pressures continue to run high, and the process of getting inflation back down to 2 percent has a long way to go." Source: https://www.federalreserve.gov/newsevents/testimony/powell20230621a.htm Highlights: * We at the Fed remain squarely focused on our dual mandate to promote maximum employment

Infinity Q engaged in fraudulent scheme inflating by more than $1 billion the value of assets held by mutual fund & hedge fund it advised.

From at least February 2017-February 2021 InfinityQ actively manipulated valuations by editing computer code to report mathematically impossible false valuations https://www.sec.gov/litigation/complaints/2023/comp25750.pdf * SEC-registered investment adviser Infinity Q engaged in a fraudulent scheme that inflated by more than $1 billion the value of assets

Atlanta Fed President Raphael Bostic discloses violations of trading rules (AGAIN!!!) before 2022 FOMC meeting. While banks have the liquidity fairy, 'we' get the promise of 2 more rate hikes this year, Raphael Bostic yet again enrichens himself

Good evening Superstonk! Jellyfish back with you about something that grinds my gears: Atlanta Fed President Raphael Bostic discloses violations of trading rules (AGAIN!!!) before 2022 FOMC meeting. While banks have the liquidity fairy, 'we' get the promise of 2 more rate hikes this year, Raphael Bostic yet

Paywall: Fed, SEC Probing Goldman Sachs’s Role in SVB’s Final Days. The Justice Department has subpoenaed Goldman over the Silicon Valley Bank matter, say people familiar with the matter.

Source: https://www.wsj.com/articles/fed-sec-probing-goldman-sachss-role-in-svbs-final-days-a4683b5b Reddit Post

FIC-GOV Alert! GSD Capped Contingency Liquidity Facility® (CCLF®) will reset each Netting Member’s CCLF Cap on 7/1/23. If a member defaults, the FICC would tap into the CCLF, which could drain liquidity from other members.

A CCLF failure could trigger a liquidity domino effect throughout the market. https://www.dtcc.com/-/media/Files/pdf/2023/6/15/GOV1495-23.pdf What is the Capped Contingency Liquidity Facility (“CCLF®”)? On April 25, 2017, the Commission approved FICC’s adoption of the Clearing Agency Liquidity Risk Management

FICC-GOV Alert! Implementation of [REDACTED] SR-FICC-2023-003 set for 7/3/23. Revises the description of the stressed period used to calculate VaR Charge, amend the GSD QRM Methodology

https://www.dtcc.com/-/media/Files/pdf/2023/6/15/GOV1494-23.pdf Before going any further:The VaR is the most important calculation, apparently, in determining the clearing fund deposit requirement (which in simple terms is just a fraction of customer buys). * This is literally the reason why the