On January 26, 2022, SEC Chairman Gary Gensler issued a brief statement noting the agency’s efforts to address the market volatility in January 2021 and beyond. The statement referenced the SEC staff report on volatility and market structure conditions and a request for comment related to digital engagement practices or…
Our recent client alert discusses the SEC’s recent securities lending proposal, which, if adopted, would create a new reporting and disclosure framework for the securities lending market. Rule 10c-1 would require any person who loans a security on behalf of itself or another person to report to FINRA certain material…
Here is a link to our Client Alert discussing this SEC proposed rulemaking. Please contact us if you have any questions.
On December 15, the SEC voted to propose reforms that would significantly affect the regulatory framework governing money market funds (MMFs). According to the SEC, the proposed reforms are designed to improve the resiliency of MMFs by reducing the risk of shareholder “runs,” especially during times of liquidity stress. The SEC indicated…
The SEC has made a concerted effort in recent years to look more closely at the fixed income markets. But under the new leadership of Chairman Gary Gensler, that spotlight seemed to have dimmed—or so some thought. For example, FIMSAC—the Fixed Income Market Structure Advisory Committee—which the SEC convened in…
The onset of fall signals a sad realization that summer has ended, but also the joy that “market structure” season has arrived for securities industry participants and policy wonks. Right on cue, in early October, SEC staff issued a report on equity and option market structure conditions related to the…
On March 11, 2021, the staff of the SEC’s Division of Investment Management issued a statement addressing cross trading among affiliated registered funds and soliciting feedback in this area. The staff issued the statement in response to public feedback on the SEC’s recent adoption of the “Valuation Rule,” which will…
On January 20, 2021, the Biden White House issued a memorandum to the heads of U.S. federal executive departments and agencies requesting a broad regulatory freeze of new and pending rules that were advanced in the final weeks under the Trump Administration. In the memorandum, Ron Klain, Chief of Staff…
On December 15, the FDIC approved a final rule to revise and modernize its regulations relating to brokered deposits. The final rule establishes a new framework for analyzing whether deposits made through deposit arrangements qualify as brokered deposits, including those between insured depository institutions (IDIs) and third parties, such as financial technology companies. Specifically,…
On November 24, in a notice of proposed rulemaking, the OCC invited comment on the approach it would use to determine the CRA evaluation measure benchmarks, retail lending distribution test thresholds and community development minimums under the general performance standards established by the final rule published earlier this year, as covered in a previous…