Technical corrections to an OCC, Federal Reserve Board and FDIC standardized approach to calculating the exposure amount of derivative contracts under the "regulatory capital rule'" were published in the Federal Register.
The CFTC adopted amendments to regulations governing (i) real-time public swap reporting and dissemination, (ii) swap data recordkeeping and reporting, and (iii) swap data verification policies and procedures.
FINRA proposed a rule change that would require firms to use the same timestamp granularity for trade reports to FINRA's Equity Trade Facilities that are used in submissions to the consolidated audit trail.
The Division of Clearing and Risk and the Division of Swap Dealer and Intermediary Oversight provided relief and guidance concerning the treatment of separate accounts of a single beneficial owner by futures commission merchants.
The CFTC took several actions including (i) adopting final amendments to swap data reporting requirements, (ii) adopting a rule permitting alternative compliance for certain non-U.S. derivatives clearing organizations, and (iii) approving a supplemental notice on proposed amendments to regulations governing bankruptcy proceedings of commodity brokers.
The Office of Compliance Inspections and Examinations alerted firms to the increased prevalence of "credential stuffing," a cyberattack method that involves the use of automated scripts to attempt to log into customer accounts using stolen personal information.
In this episode of the Law Wise podcast, Cadwalader partner Kyle DeYoung is joined by Michael Maloney, President of Credibility International and the former Chief Accountant of the Division of Enforcement for the U.S. Securities and Exchange Commission, to discuss what’s happening on the SEC enforcement front as it relates to accounting and financial disclosures.
The CFTC Division of Swap Dealer and Intermediary Oversight granted no-action relief to a futures commission merchant seeking to to add back to its net worth the amount of deferred tax liabilities "directly related" to intangible assets recognized for GAAP purposes as a result of a non-taxable business combination.
A CFTC final rule establishing minimum capital, liquidity, financial reporting and other related requirements applicable to CFTC-registered swap dealers and major swap participants was published in the Federal Register.