Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: Federal Register

CBOE Proposes Changes to Its Processes and Rules Concerning Investigative and Disciplinary Matters

Posted in Broker-Dealer
CBOE Exchange, Inc. (CBOE) has proposed amendments to Chapter 17 of the CBOE Options Rules regarding investigative and disciplinary matters involving CBOE Trading Permit Holders (TPHs) and their associated persons. In particular, the amendments reflect updates to CBOE’s rules and processes related to: complaints and investigations; expedited proceedings; the issuance of charges (and answers thereto);… Continue Reading

CFTC Proposes Amendments to DCO Regulations

Posted in CFTC, Derivatives
On April 29, the Commodity Futures Trading Commission proposed a series of amendments to regulations that apply to derivatives clearing organizations (DCOs) under Part 39 of the CFTC’s regulations, which implements the statutory core principles for DCOs (Rule Proposal). The Rule Proposal is intended, among other things, to streamline the DCO registration and reporting process,… Continue Reading

CFTC Passes Provision to Provide Greater Brexit-Related Market Certainty by Unanimous Vote

Posted in Brexit, CFTC, Derivatives
On May 25, the Commodity Futures Trading Commission adopted an interim final rule designed to provide greater certainty to the global marketplace in the event of a “no-deal Brexit.” In the event that the UK leaves the EU without a negotiated withdrawal agreement, affected swap dealers and major swap participants may be required to transfer… Continue Reading

CFTC Unanimously Approves Rule Amendments to Ease Regulatory Burdens

Posted in CFTC, Derivatives
On March 28, the Commodity Futures Trading Commission announced that it has unanimously approved two final rule amendments designed to ease registrants’ regulatory burdens. Both final rule proposals originated from the CFTC’s Project KISS Initiative, which is intended to simplify and reduce burdens by revisiting our rules based on staff implementation experience and public comment.… Continue Reading

CFTC Issues Request for Input on Crypto-Assets

Posted in CFTC, Digital Assets and Virtual Currencies
As part of its LabCFTC initiative, the Commodity Futures Trading Commission issued a Request for Input (RFI) to deepen the CFTC’s understanding of the technology, mechanics, and markets for Ether and its use on the Ethereum Network. In particular, the RFI seeks to understand similarities and distinctions between Ether and Bitcoin (as well as other… Continue Reading

SEC Reopens Comment Period for Unfinished Security-Based Swap Rules

Posted in Derivatives, Dodd-Frank Developments, SEC/Corporate
On October 11, the Securities and Exchange Commission demonstrated renewed interest in completing the regulatory regime for security-based swaps (SBS) by re-opening the comment periods for a number of SBS rules that were previously proposed but never adopted. Specifically, the SEC is requesting further comment on the following proposals:… Continue Reading

CFTC Proposes Rules to Simplify Process for Foreign Clearing Organizations to Obtain DCO Registration Exemptions

Posted in CFTC, Derivatives
On August 8, the Commodity Futures Trading Commission announced that it has proposed rules pursuant to which a clearing organization located outside of the United States may obtain an exemption from registration as a derivatives clearing organization (DCO) in order to provide swaps clearing services to certain US persons. The proposed rules codify the CFTC’s… Continue Reading

CFTC Proposes Amendments to Its Position Limit Rules

Posted in CFTC
The Commodity Futures Trading Commission is proposing to amend its position limits rules for security futures products (SFPs) to provide exchanges that list SFPs with greater discretion in setting limit levels, allowing the exchanges to provide a more effective risk management tool. Specifically, the proposed CFTC amendment would: (1) increase the default level of equity… Continue Reading

SEC Adopts New Form ATS-N and Amendments to Regulation ATS and Exchange Act Rule 3a1-1 to Enhance Transparency and Oversight of Alternative Trading Systems

Posted in Broker-Dealer
On July 18, the Securities and Exchange Commission adopted new Form ATS-N and amendments to Regulation ATS and Exchange Act Rule 3a1-1. The new requirements are designed to enhance transparency of alternative trading systems (ATSs) that trade stocks listed on a national securities exchange (NMS Stock ATSs) by requiring them to publicly disclose detailed information… Continue Reading

Regulators Publish Changes to the Volcker Rule

Posted in Banking, CFTC, Dodd-Frank Developments
On July 17, the Federal Register published proposed changes to the Volcker Rule that were jointly approved by the Federal Reserve Board, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Securities and Exchange Commission. As described in greater detail in the June 1,… Continue Reading

CFTC Opens Access to Indian Futures Market for US Customers

Posted in CFTC
On May 17, the Commodity Futures Trading Commission issued an order to the National Stock Exchange of India (NSE) through its Part 30 exemptive program, which affords regulatory deference to foreign regulatory frameworks and provides US customers greater access to certain foreign futures markets. The order allows NSE’s members to directly accept US customer funds… Continue Reading

SEC Proposes Best Interest Standard for Broker-Dealers

Posted in Broker-Dealer
On April 18, the Securities and Exchange Commission proposed a new rule under the Securities Exchange Act of 1934, creating a standard of conduct for registered broker-dealers who make recommendations of securities transactions or investment strategies involving securities to a retail customer. The best interest standard requires broker-dealers to act in the best interest of… Continue Reading

CFTC Approves Amendments to Commission Regulations Under Parts 3 and 9

Posted in CFTC, Derivatives
On January 9, the Commodity Futures Trading Commission announced it had unanimously approved final rules that update Parts 3 (Registration) and 9 (Review of Exchange Disciplinary, Access Denial or Other Adverse Actions). These updates integrate existing advisory guidance, incorporate swap execution facilities, and update provisions currently applicable to designated contract markets. The CFTC also approved… Continue Reading

CFTC Requests Comment on Proposed Exemptive Order to Permit ICE Clear Credit, ICE Clear US and ICE Clear Europe to Invest Customer Funds in French and German Sovereign Debt

Posted in CFTC
On December 12, the Commodity Futures Trading Commission requested comment on a proposed exemptive order, pursuant to Section 4(c) of the Commodity Exchange Act (CEA), which would grant ICE Clear Credit, ICE Clear US and ICE Clear Europe (ICE DCOs) limited exemptions from Section 4d of the CEA and CFTC Rule 1.25. Subject to the… Continue Reading

SEC-Proposed Amendments to Modernize, Simplify and Increase the Accessibility of Required Disclosure

Posted in SEC/Corporate
As previously reported in the October 13, 2017 edition of Corporate & Financial Weekly Digest, on October 11, the Securities and Exchange Commission proposed amendments (the Proposal) to modernize and simplify disclosure requirements in Regulation S-K, and related rules and forms. The Proposal is intended to reduce registrants’ burden and costs to comply with the… Continue Reading

FINRA Proposes to Make New TRACE Security Activity Reports Available

Posted in Broker-Dealer
On June 19, the Financial Industry Regulatory Authority filed a proposed rule amendment that would make new Trade Reporting and Compliance Engine (TRACE) Security Activity Reports available. Currently, FINRA Rule 7730 enumerates the TRACE data products that FINRA offers in connection with TRACE-Eligible Securities (i.e., certain debt and US Treasury securities). Under the amendment, Rule… Continue Reading

CFTC Approves Amendments to Recordkeeping Requirements

Posted in CFTC
On May 23, the Commodity Futures Trading Commission approved amendments to Regulation 1.31, which contains the recordkeeping requirements under the Commodity Exchange Act and CFTC regulations. The final rule adopts the amendments as proposed with a few exceptions. The proposed amendments are discussed in the January 13 edition of the Corporate & Financial Weekly Digest.… Continue Reading

FINRA Files Proposed Rules With The SEC To Implement Consolidated Audit Trail Plan

Posted in Broker-Dealer
The Financial Industry Regulatory Authority (FINRA) has filed proposed rules with the Securities and Exchange Commission to adopt FINRA Rule 6800 Series, which is designed to implement the compliance rule regarding the National Market System (NMS) Plan Governing the Consolidated Audit Trail. Pursuant to Regulation NMS, various exchanges have filed with the SEC a plan to… Continue Reading