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            • February 19, 2021

              FINRA Reports GASB Accounting Support Fee for 2021

              FINRA reported that it will collect a total of $10,707,300 from member firms that report trades to the MSRB. The fee, to be collected in quarterly installments starting in April 2021, funds the Governmental Accounting Standards Board.
            • February 18, 2021

              GameStop: Regulators Should Focus Less on “Solving the Problem”; More on “Improving the Situation”

              The hullabaloo surrounding the run-up in the price of GameStop and the activities of Robinhood Markets, Inc. have generated front page news, calls for action, and allegations of wrongdoing.
            • February 18, 2021

              U.S. Climate Finance Working Group Recommends "Pragmatic Approach" to Sustainable Low-Carbon Economy

              A U.S. Climate Finance Working Group made up of 11 associations that include ISDA, SIFMA, FIA and the American Bankers Association, laid out 10 recommendations "essential" for a U.S. transition to a sustainable low-carbon economy.
            • February 18, 2021

              Digital Currency Processing Company Settles OFAC Charges for Multiple Sanctions Violations

              A private company offering digital currency payment processing settled its potential civil liability for alleged violations of numerous sanctions programs.
              James.Treanor@cwt.com's picture
              Commentary by James Treanor
            • February 16, 2021

              Department of State Revokes Designation of Ansarallah as Foreign Terrorist Organization

              The State Department revoked the counterterrorism designations of Ansarallah that had blocked the group from engaging in transactions with U.S. persons.
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • February 12, 2021

              FRB and OCC Provide Large Bank Stress Test Scenarios

              The Federal Reserve Board and the OCC released annual stress testing scenarios for large banks.
            • February 12, 2021

              MSRB Retires Outdated Interpretive Guidance

              The MSRB will retire "15 pieces of guidance" that it considers either outdated or superfluous.
            • February 11, 2021

              OCC Releases LIBOR Preparedness Self-Assessment Tool

              The OCC released a LIBOR Self-Assessment Tool for community banks to use to gauge the appropriateness, execution, and oversight and reporting of the bank's LIBOR transition plan.
            • February 08, 2021

              New York State Proposes Billionaire Mark to Market Tax Act

              A New York State Senate bill that would establish a "billionaire mark to market tax" was referred to the State Budget and Revenue Committee on February 5, 2021.
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • February 01, 2021

              CFTC Charges Trader with Manipulation of Interest Rate Swap Spreads

              The CFTC charged a swaps trader with manipulating the prices of interest rate swap spreads and attempting to cover up the misconduct.
            • January 29, 2021

              Businessman Settles DOJ Foreign Bribery and Money Laundering Charges

              An Ecuadorian businessman settled DOJ charges of bribing then-public officials of Ecuadorian state-owned oil company Empresa Pública de Hidrocarburos del Ecuador.
            • January 29, 2021

              Reg. Tracker: February 1 to February 15

              The Cabinet Regulatory Tracker is a list of comment deadlines and effective dates.
            • January 27, 2021

              European Commission Makes Equivalence Determination for SEC-Registered Clearing Agencies

              The European Commission determined that the SEC's regulatory framework for central counterparties is equivalent to that of the European Union.
            • January 27, 2021

              FinCEN Extends Comment Deadline on CVC and Digital Asset Transactions Proposal

              FinCEN further extended the reopened comment periods on a proposal concerning transactions that involve certain convertible virtual currency and digital assets with legal tender status.
            • January 26, 2021

              OFAC Authorizes Certain Time-Limited Transactions Involving Houthi Militia

              OFAC authorized certain transactions involving Ansarallah, an Iranian-backed armed militia fighting against the Yemeni Sunni government, through February 26, 2021.
            • January 21, 2021

              OFAC Issues Yemeni Counter Terrorism-Related Designation

              OFAC designated Ansarallah - a Houthi Shiite movement against the Yemeni Sunni government - to the Specially Designated Nationals and Blocked Persons List. Concurrently, OFAC issued four general licenses to authorize the provision of humanitarian assistance to the Yemeni people.
            • January 20, 2021

              CFPB Adopts Exemption on Escrow Accounts for Higher-Priced Mortgage Loans

              The CFPB amended Truth in Lending regulations to provide certain insured depository institutions and credit unions with an exemption from establishing escrow accounts for higher-priced mortgage loans.
            • January 20, 2021

              Firm and CEO Settle FINRA Charges for OBA Supervision Failures

              A firm and its CEO settled FINRA charges for failing to adequately supervise the firm's outside business activities and employee communications.
            • January 14, 2021

              SEC Eases Limits on Private Placements

              The SEC adopted amendments to "simplify, harmonize, and improve certain aspects of the exempt offering framework." The amendments expand the availability of exemptions in order to "promote capital formation while preserving or enhancing important investor protections."
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • January 14, 2021

              FinCEN Extends Comment Deadline for CVC and Digital Asset Transactions Proposal

              FinCEN extended comment periods on a proposal concerning transactions that involve convertible virtual currency and digital assets with legal tender status.
            • January 13, 2021

              CFTC Approves NFA Capital Model Review Program

              The CFTC staff determined that NFA's swap dealer capital model requirements and review process "are comparable" to the CFTC's own requirements and processes.
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • January 11, 2021

              SEC Awards $1.1 Million to Whistleblowers

              The SEC awarded a total of $1.1 million to five whistleblowers for providing original information that led to three separate successful enforcement actions.
              lex.urban@cwt.com's picture
              Commentary by Lex Urban
            • January 11, 2021

              Effective and Compliance Dates Set for SEC Amendments on Financial Disclosure under Regulation S-K

              The SEC published in the Federal Register a final rule designed to "modernize, simplify, and enhance" Regulation S-K financial disclosure requirements.
            • January 07, 2021

              CFTC and ESMA Sign MOU on U.S. DCOs Recognized under EMIR

              The CFTC and the European Securities and Markets Authority entered into an "enhanced" Memorandum of Understanding which sets the scope of cooperation between the agencies and addresses regulatory, supervisory and operational issues concerning central counterparties.
            • January 07, 2021

              Firm Settles FINRA Charges for Options Position Violations

              A firm settled FINRA charges for effecting opening transactions in a stock option contract that exceeded the applicable options position limits, and for related supervisory system failures.
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