Senator John Kennedy (R-LA) introduced the "Protecting Investors' Personally Identifiable Information Act." The legislation would exclude personally identifiable information from Consolidated Audit Trail reporting requirements.
The CFTC Market Participants Division and Division of Market Oversight extended through September 30, 2021, COVID-19 related no-action relief to floor brokers from location, registration and real-time market monitoring requirements.
The U.S. House Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets considered legislation and testimony concerning the transition from the London Inter-Bank Offered Rate.
The U.S. House Financial Services Subcommittee on Consumer Protection and Financial Institutions held a hearing to consider proposed legislation on novel financial institution charters such as industrial loan companies, as well as state charters and licenses for cryptocurrency and blockchain firms.
In a joint statement, the Federal Reserve Board, the FDIC and the OCC, in consultation with FinCEN and the National Credit Union Administration, described how the agencies' "Supervisory Guidance on Model Risk Management" relates to Bank Secrecy Act / Anti-Money Laundering systems.
SEC Division of Corporation Finance Acting Director John Coates argued against claims by commentators that Special Purpose Acquisition Companies face lesser securities law liability in the context of a "de-SPAC" transaction than traditional IPOs.
In Google LLC v. Oracle America, Inc., the Supreme Court of the United States held that Google's copying of roughly 11,500 lines of code from Oracle's Java SE Application Programming Interface was a "fair use" of that material.
SEC Director Peter Driscoll described the regulatory and operational challenges of delivering financial services during the pandemic, the issuance of alerts on pandemic and emergent risks (including on cybersecurity), and the roll out of Regulation Best Interest.
The CFTC Market Participants Division issued CPO and CTA registration relief to a company that acquires biopharmaceutical royalty interests and uses swaps to hedge its interest rate risk on floating rate debt used to finance the company's operations.
At an Investor Advisory Committee meeting, SEC Commissioner Hester Peirce cautioned against "overly prescriptive" regulations intended to protect retail investors and "well-intentioned increased" regulatory obligations around special purpose acquisition companies.
The CFTC charged two individuals, including well-known technology entrepreneur John McAfee, with engaging in a "pump-and-dump" scheme involving digital assets. It is the first ever enforcement action for a manipulative scheme involving digital assets.
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.
The Courts of Appeal for the Ninth Circuit and the D.C. Circuit separately granted the Biden administration's motions to hold in abeyance the government's appeals of lower court injunctions of President Donald Trump's Executive Orders on WeChat and TikTok.