A diverse group of commercial and financial trade associations urged the Federal Reserve Board to provide guidance on the recently implemented Paycheck Protection Program and other lending facilities established under the Coronavirus Aid, Relief and Economic Security Act.
In a new report, ISDA, SIFMA and several other trade associations found that few market participants have implemented programs to begin the transition from interbank offered rates to alternative risk-free rates.
The Investment Adviser Association and National Regulatory Services reported that the investment adviser profession is growing and evolving, creating more jobs and managing assets for a greater number of clients.
Treasury Secretary Jacob Lew issued a statement arguing that a federal court's decision to rescind the determination that MetLife was a so-called "systemically important financial institution" leaves one of the "largest and most highly interconnected financial companies in the world subject to even less oversight than before the financial crisis."
The UK Financial Conduct Authority ("FCA") published a consultation paper in which it proposed revisions and requested comments on its regulation of the secondary trading of financial instruments in its first Markets in Financial Instruments Directive II Implementation ("MiFID II").
A number of financial services associations called for regulatory agencies to do "substantial additional work" on the Basel Committee on Banking Supervision's proposed framework, in advance of the U.S. consideration of the Fundamental Review of the Trading Book rules.
A number of trade associations jointly submitted a letter to the CFTC's Director of the Division of Swap Dealer and Intermediary Oversight requesting that the Division grant relief to permit sponsors of registered investment companies and privately offered investment funds to net certain uncleared...
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