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NAPFM, MFA, and AIMA Challenge SEC Securities Lending and Short Position Reporting Rules

NAPFM, MFA, and AIMA sue to challenge the SEC's Securities Lending and Short Position Reporting Rules by filing lawsuit asking the U.S. Court of Appeals for the Fifth Circuit to invalidate and toss out the rules. Industry is big mad!

Wut Mean?: * The National Association of Private Fund Managers (NAPFM), Alternative Investment Management Association (AIMA), and Managed Funds Association (MFA) filed a lawsuit asking the U.S. Court of Appeals for the Fifth Circuit to invalidate the two rules recently adopted by the Securities and Exchange Commission (SEC) requiring reporting

Global Monitoring Report on Non-Bank Financial Intermediation 2023

FSB Global monitoring report on non-bank financial intermediation 2023: Total financial assets of NBFI's declined 5.5% in 2022 compared to 2021, to $217.9 trillion, mainly reflecting valuation losses in mark-to-market asset portfolios.

Since 2017 investment funds have driven changes in NBFI asset levels, and this continued to be the case in 2022, as investment funds led the decline in NBFI assets. More broadly, there was a negative contribution to asset levels from sectors with large mark-to-market portfolios: Among OFIs, credit assets of

CFTC Approves Two Proposals and a DCO Application in conjunction with its December 13th meeting.

CFTC Approves Swap and Derivatives Rules that would require clearing member funds be segregated from the DCO’s own funds and held in a depository that acknowledges, in writing, that the funds belong to clearing members, not the DCO.

CFTC Approves Two Proposals and a DCO Application in conjunction with its December 13th meeting where they considered: * Proposed Rule: Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants * Proposed Rule: Capital and Financial Reporting Requirements for Swap Dealers and Major Swap Participants * Proposed Rule: Protection

Concerns over commercial real estate (CRE) concentrations.

The FDIC issues advisory to reemphasize the importance of strong capital, appropriate credit loss allowance levels, and robust credit risk-management practices for institutions with commercial real estate (CRE) concentrations.

Previous Challenging Economic Environments: "CRE lending concentrations, combined with weak risk management practices, contributed significantly to past asset quality problems and bank failures." Current Challenging Economic Environment and Real Estate Conditions: "CRE investment property capitalization rates have not kept pace with recent rapid increases in long-term interest

Capital and Financial Reporting Requirements for Swap Dealers and Major Swap Participants

CFTC Alert! CFTC Seeks Public Comment on Proposed Rule to Amend Capital and Financial Reporting Requirements of Swap Dealers and Major Swap Participants. Comments close on February 13, 2024.

Additional Information: On September 15, 2020, the Commission published in the Federal Register final rules adopting capital and financial reporting requirements for SDs and MSPs. The Final Rules accomplished the Congressional mandate directing the Commission to adopt rules imposing both capital requirements and initial and variation margin requirements on SDs

Penalty? Without admitting the findings, a censure and $75k fine.

FINRA 'discipline': From January 2016 - April 2022 Elevation, LLC supervisory system was not reasonably designed to detect potential fraudulent trading, including spoofing, layering, and wash trades, in equity securities.

FACTS AND VIOLATIVE CONDUCT: Elevation failed to have a supervisory system reasonably designed to achieve compliance with applicable federal securities laws and FINRA rules prohibiting fraudulent trading, including spoofing, layering, and wash trades. Penalty?: How could this impact GameStop?: * OTC exchanges, traded OVER 1.27 BILLION shares of GME between

shortening of the standard settlement cycle from T+2 to T+1

The Canadian Securities Administrators (CSA) announces adoption of amendments to National Instrument 24-101 Institutional Trade Matching & Settlement reflecting the upcoming shortening of the standard settlement cycle from T+2 to T+1.

Introduction: The Canadian Securities Administrators (the CSA or we) are adopting amendments to National Instrument 24-101 Institutional Trade Matching and Settlement and changes to Companion Policy 24-101 Institutional Trade Matching and Settlement, together referred to as the Amendments. The Instrument and the Companion Policy are collectively referred to as NI