On March 31, the National Futures Association (NFA) issued Notice I-21-14 advising member firms that are registered with the Commodity Futures Trading Commission as swap dealers (SDs), that NFA rules adopting minimum capital and financial reporting requirements will become effective October 6.

Continue Reading NFA Issues Notice Regarding Effective Date of NFA’s Swap Dealer Capital Requirements

On March 24, HM Treasury revised its advisory notice on money laundering and terrorist financing controls in overseas jurisdictions (AML/CTF). This replaces all previous notices issued by HM Treasury on this subject. The updated notice follows two statements published by the Financial Action Task Force on February 25, identifying jurisdictions with strategic deficiencies in their AML/CTF regimes. Continue Reading AML: HM Treasury Updates Advisory Notice on Money Laundering and Terrorist Financing Controls in Higher-Risk Jurisdictions

On March 25, the UK Government published the Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021 (SI 2021/392) on its website together with an explanatory memorandum (the Regulations). Continue Reading AML: UK Government Publishes Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021

On March 26, HM Treasury published a press release announcing it had concluded technical discussions on the text of the Memorandum of Understanding (MoU) for UK-EU regulatory cooperation in financial services (the Press Release). Continue Reading UK Treasury Announces Technical Discussions on MoU on UK-EU Regulatory Cooperation in Financial Services

On March 26, the Joint Committee of the European Supervisory Authorities (ESAs) published a set of Q&As on the Securitisation Regulation (EU) 2017/2402, covering questions that fall outside the scope of any of the three ESAs. Continue Reading Joint Committee of ESAs Q&As on Securitisation Regulation

On March 24, the Securities and Exchange Commission adopted interim final amendments to implement congressionally mandated submission and disclosure requirements of the Holding Foreign Companies Accountable Act (HFCA Act). Continue Reading SEC Issues Amendments, Seeks Public Comment on Holding Foreign Companies Accountable Act

On March 22, the Securities and Exchange Commission launched a new page on its website to bring together agency actions and the latest information about climate and environmental, social and governance (ESG) investing. Continue Reading SEC Responds to Investor Demand by Bringing Together Agency Information About Climate and ESG Issues

Consolidated Audit Trail, LLC (CAT) and Financial Industry Regulatory Authority CAT, LLC (FINRA) remind industry members and CAT reporting agents that the deadline to request Production Readiness Certification for the CAT CAIS LTID Production Environment is Friday, April 9. Continue Reading FINRA CAT Production Readiness Certification Deadline

On March 14, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 21-11 (Notice), which seeks comment on proposed amendments to Rule 4210 (Margin Requirements) that would clarify and incorporate into the rule current interpretations regarding when issued and other extended settlement transactions and provide relief to facilitate the application of the rule to these transactions. Comments must be received by May 14. Continue Reading FINRA Requests Comment on Proposed Amendments to Margin Rule 4210