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Federal Reserve Alert! Federal Reserve Board invites public comment on an advance notice of proposed rulemaking to enhance regulators’ ability to resolve large banks in an orderly way should they fail.

Source The Federal Reserve Board on Friday invited public comment on an advance notice of proposed rulemaking to enhance regulators' ability to resolve large banks in an orderly way should they fail. Recent merger activity and organic growth have increased the size of large banking organizations. If they were

SEC Alert! New Jersey Real Estate Development Firm and Four Executives Charged With $600 Million Ponzi-like Fraud.

Source: https://www.sec.gov/news/press-release/2022-188 The Securities and Exchange Commission today charged New Jersey-based National Realty Investment Advisors LLC (NRIA) and four of its former executives with running a Ponzi-like scheme that raised approximately $600 million from about 2,000 investors. The SEC’s complaint alleges that

SEC Alert! Securities and Exchange Commission Chair Gary Gensler is expected to propose major changes to the rules governing the stock market.

Source: https://www.politico.com/news/2022/10/12/wall-street-gary-gensler-sec-00061245 Reddit Post SEC Adopts Rule Amendments to Modernize How Broker-Dealers Preserve Electronic Records and Enhance the Electronic Recordkeeping Requirements for Security-Based Swap Entities The Securities and Exchange Commission today voted to adopt amendments to the electronic recordkeeping, prompt production of

SEC Alert! Paul Munter Acting Chief Accountant: 'We have also recently observed shortcomings related to responsibilities over the detection of material misstatements due to fraud that auditors should keep in mind'

SEC Alert! Paul Munter Acting Chief Accountant: 'We have also recently observed shortcomings related to responsibilities over the detection of material misstatements due to fraud that auditors should keep in mind as they perform their vital role for the public trust.' Other comments of note from Munter: The

Federal Reserve Alert! Speech by Fed Governor Charles L. Evans: 'After more than a decade of missing our average 2 percent target to the downside, PCE inflation has risen quite quickly—from under 1 percent in mid-2020 to 6.2 percent in August

Source: https://www.chicagofed.org/publications/speeches/2022/october-10-nabe-annual-meeting More from Evans speech: Reducing inflation to a level consistent with the Fed’s 2 percent objective will require a period of restrictive financial conditions to restore better balance between supply and demand economy-wide. This will generate below-trend growth and some

FICC-GOV,FICC-MBS Alert! GSD Rules & MBSD Rules to clarify that a Settling Bank & a Cash Settling Bank, respectively, may not refuse to settle for itself. The Member shall remain obligated to pay such Cash Settlement amount by the payment deadline

Source Settlement by Settling Banks and Cash Settling Banks Lastly, FICC is proposing to revise GSD Rule 13, Section 5(b) (Funds-Only Settlement Amount Payment Process) and MBSD Rule 11, Section 9(b) (Cash Settlement) to clarify that a Settling Bank and a Cash Settling Bank, respectively, may not refuse

Federal Reserve Alert! Speech by Governor Christopher J. Waller: 'We haven't yet made meaningful progress on inflation and until that progress is both meaningful and persistent'

Federal Reserve Alert! Speech by Governor Christopher J. Waller: 'We haven't yet made meaningful progress on inflation and until that progress is both meaningful and persistent, I support continued rate increases, along with ongoing reductions in the Fed's balance sheet' Source: https://www.federalreserve.