Dismal's Smacks

🌙 ☀️

Sign in Subscribe

📰 News

SEC Alert! Press Release SEC Proposes New Requirements to Address Cybersecurity Risks to the U.S. Securities Markets.

Proposed Rule (530 pages): Cybersecurity Risk Management Rule for Broker-Dealers, Clearing Agencies, Major Security-Based Swap Participants, the Municipal Securities Rulemaking Board, National Securities Associations, National Securities Exchanges, Security-Based Swap Data Repositories, Security-Based Swap Dealers, and Transfer Agents Finally, the Commission is proposing amendments to address the potential availability to security-based

CFTC Alert! Chairman Rostin Behnam: 'Underlying all of these themes is the need for our ruleset to address the derivatives industry’s current trajectory.' 'Several proposed rulemakings underway will aim to address these risks'

Source: https://www.cftc.gov/PressRoom/SpeechesTestimony/opabehnam33 I am going to include a few images from interesting sections of the speech with commentary, the full speech is below. enhancing risk management and resilience across intermediaries, exchanges, and derivatives clearing organizations Interesting. improving reporting and data policy Yeah, releasing that

SEC Alert! SEC Proposes Changes to Reg S-P would require broker-dealers, investment companies, registered investment advisers, and transfer agents to provide notice to individuals affected by certain types of data breaches that may put them at risk

Proposed Rule (252 pages) The Securities and Exchange Commission (“Commission” or “SEC”) is proposing rule amendments that would require brokers and dealers (or “broker-dealers”), investment companies, and investment advisers registered with the Commission (“registered investment advisers”) to adopt written policies and procedures for incident response programs to address unauthorized access

SEC Alert! Statement by Chair Gary Gensler: 'history is replete with times when tremors starting at one financial institution or corner of the financial system spill out to the broader economy.'

Chair Gary Gensler: 'history is replete with times when tremors starting at one financial institution or corner of the financial system spill out to the broader economy. When this happens, the American public – bystanders to the highways of finance – inevitably gets hurt' Reddit Post

Federal Deposit Insurance Corporation (FDIC) Alert! Financial Institutions are Required to Meet Contractual Obligations with Bridge Banks.

All contracts entered into with banks before they failed, and their counterparties were transferred into the bridge bank by the FDIC as receiver. Source: https://www.fdic.gov/news/financial-institution-letters/2023/fil23010.html Summary: In recent days, the FDIC has established two bridge banks, Silicon Valley Bridge Bank, N.A.

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in February on a seasonally adjusted basis, after increasing 0.5 percent in January, the U.S.BLS reported today.

Source: https://www.bls.gov/news.release/cpi.nr0.htm Reddit Post

NSCC Alert! Order Approving Proposed Rule Change to Adopt Intraday Volatility Charge and Eliminate Intraday Backtesting Charge.

See NSCC add an intraday volatility charge to its margin requirement and amend its margin requirements that relied on assumptions undercounting potential deficiencies. Source: https://www.sec.gov/rules/sro/nscc/2023/34-97129.pdf (Release No. 34-97129; File No. SR-NSCC-2022-009) March 13, 2023 Self-Regulatory Organizations; National Securities Clearing Corporation; Order