Skip to main content
  • Topics
    • Broker-Dealers
      • Broker-Dealers
        • Overview
        • FINRA Materials
        • FINRA: Rule by Rule
        • Muni Advisors
        • Muni Securities and Dealers
        • Muni Securities Documents
        • MSRB Rules: Rule by Rule
        • Government Securities Dealers
        • 100's More Broker-Dealer Topics
        • Capital Requirements
        • Regulation Best Interest
        • Non-U.S. Broker-Dealer (Rule 15a-6)
    • Commodity Exchange Act
      • Commodity Exchange Act
        • Overview
        • CFTC Supervision and CCO
        • Position Limits
        • FCMs
        • FCM / IB Registration Requirement
        • BD and FCM Risk Assessment Rules
        • BD and FCM Subordination Agreements
        • BD and CEA Withdrawals of Capital
        • FCM Capital
        • FCMs and Swap Dealer Custody
        • More CEA Topics
        • Swaps and Swap Dealers
        • Margin for Uncleared Swaps
        • FCMs and Swap Dealer Custody
        • Swap Dealer and SBSD Capital
        • CPOs and CTAs
        • Disclosures
        • Recordkeeping
        • Registration Process
        • Registration Requirement
        • Reporting on Form PQR, and Form PR
    • Advisers, Funds and Plans
      • Advisers, Funds and Plans
        • Overview
        • ERISA
        • Municipal Advisors
        • IA Regulation
        • Standard of Conduct and Fiduciary Guidance
        • Business Continuity
        • Incentive Compensation
        • Pay to Play
        • Recordkeeping and Reporting
        • Registration Requirement
        • SEA 13(f) Position Reporting
        • Soft Dollars
        • Custody Requirements
        • Definition of Investment Adviser
        • Form CRS
        • More Adviser and Funds Topics
        • Investment Companies
        • Overview of Exemptions from Registration under the ICA
        • Capital Structure, Senior Securities, Liquidity
        • Custody Requirements
    • Banking
      • Banking
        • Overview
        • FRA 23A and 23B and Reg W
        • Community Reinvestment Act
        • Volcker
        • Truth in Lending
        • Truth in Savings
        • Capital Requirements
        • Enforcement Procedures
        • Money Service Businesses
      • Products and Contracts
        • Products and Contracts
          • Cannabis Finance
          • Commodity Options
          • Crypto and Initial Coin Offerings
          • Government Securities and Dealers
          • LIBOR and Indices
          • Municipal Securities and Dealers
          • Securities Lending
          • Securities Options
          • Security Futures Products
          • TBAs and the MSFTA
      • Credit and Insolvency
        • Credit and Insolvency
          • Overview
          • BD Insolvency
          • FCM Insolvency
          • Insolvency of Banks
          • Protected Financial Contracts
          • Security Interests and UCC
        • Cybersecurity
          • Cybersecurity
            • Cybersecurity and Data Protection
          • Enforcement and Bad Acts
            • Enforcement and Bad Acts
              • Anti-Money Laundering
              • Disqualifications and Waivers
              • Foreign Corrupt Practices Act
              • Insider Trading
              • SEC and FINRA
              • Sanctions
              • Whistleblowers
            • Investors
              • Investors
                • Comm. on Foreign Investment in US ("CFIUS")
                • Hart-Scott-Rodino
                • SEA 13(f) Position Reporting
              • Issuers and Offerings
                • Issuers and Offerings
                  • Asset-Backed Securities
                  • Conflict Minerals
                  • Issuer Repurchases Rule 10b-18
                  • Issuer Securities Regulation and Del. Corp. Law
                  • Regulation FD (Fair Disclosure)
                  • Securities Offerings
                  • Corporate Financing Rule
                  • FINRA Private Placement Rules (5122 and 5123)
                • Regulatory Policy
                  • Regulatory Policy
                    • Dodd-Frank
                    • Policy
                • Documents
                  • Federal Securities
                    • Federal Securities
                      • Statutes
                      • Investment Advisers Act
                      • Investment Company Act
                      • Securities Act
                      • Securities Exchange Act
                      • Trust Indenture Act
                      • Rules
                      • Investment Advisers Act
                      • Investment Company Act
                      • Securities Act
                      • Securities Exchange Act
                      • Securities Act / Securities Exchange Act Regulations
                      • Trust Indenture Act Rules
                      • More Federal Securities Laws, Rules and Other Documents
                      • SEC Administrative Materials
                      • SEC Federal Registers
                      • SEC Enforcement Releases
                      • SEC No-Action Letters
                      • SEC Forms
                      • Securities SROs
                      • FINRA Rules
                      • MSRB Rules
                      • FINRA / MSRB Notices
                      • SRO Federal Registers
                      • SRO Enforcement Releases
                  • Commodity Exchange Act and Energy
                    • Commodity Exchange Act and Energy
                      • CEA and Related Rules
                      • CEA
                      • CFTC Rules
                      • NFA Rules
                      • CEA Judicial Decisions
                      • Supreme Court and Circuit Court Cases
                      • More CEA-Related Documents
                      • CFTC Documents
                      • CFTC Fact Sheets
                      • CEA FAQs
                      • CEA Federal Registers
                      • CFTC Guidance on Cross-Border Futures Transactions
                      • CFTC Guidance on Cross-Border Swaps
                      • CFTC Orders
                      • CFTC No-Action Letters
                      • CEA Speeches, Statements and Testimony
                      • CEA Studies and Reports
                      • NFA Documents
                      • NFA Notices
                      • NFA Regulatory Guidance
                  • Federal Banking
                    • Federal Banking
                      • Statutes
                      • Antitying Act
                      • Bank Holding Company Act of 1956
                      • Community Reinvestment Act
                      • Consumer Credit Protection Statutes
                        • Truth in Lending Act
                        • Consumer Leasing Act
                        • Fair Credit Reporting Act
                        • Equal Credit Opportunity Act
                        • Fair Debt Collection Practices Act
                        • Electronic Fund Transfers Act
                      • Federal Deposit Insurance Act
                      • Federal Reserve Act
                      • International Banking Act
                      • National Banking Act
                      • Real Estate Settlement Procedures Act
                      • More Banking Laws, Rules and Other Documents
                      • Rules
                      • Comptroller Rules
                      • FDIC Rules
                      • FRB Rules
                      • Government Securities Act Rules
                      • CFPB Rules
                      • Banking Guidance
                      • Comptroller Handbooks
                      • Comptroller Interpretive Letters
                      • FDIC Financial Institution Letters
                      • FRB Compliance Guides
                      • FRB Supervision and Regulation Letters
                      • CFPB Supervisory Highlights
                  • ERISA
                    • ERISA
                      • Statutes
                      • Employee Retirement Income Security Act
                      • Internal Revenue Code Provisions Related to ERISA
                      • Rules
                      • ERISA Rules
                      • Internal Revenue Regulations Related to ERISA
                      • Other Documents
                      • DOL Federal Registers
                      • DOL FAQs
                      • DOL Glossaries
                      • Pension Benefit Guaranty Corporation Federal Registers
                  • Credit
                    • Credit
                      • Bankruptcy Laws
                      • Bankruptcy Code
                      • Federal Deposit Insurance Corporation Improvement Act
                      • SIPA
                      • Securities Investor Protection Act
                      • Securities Investor Protection Corporation Rules
                      • SIPC Letters and Interpretations
                      • SIPC Annual Reports
                      • State Law
                      • New York Statute
                      • Other Documents
                      • Bankruptcy Basics​
                      • Hague Convention
                      • Court Decisions
                      • NYDFS Letters on Bank Insolvency
                  • AML, FCPA and Sanctions
                    • AML, FCPA and Sanctions
                      • AML
                      • Bank Secrecy Act
                      • Bank Secrecy Act Rules
                      • Federal Crime of Money Laundering
                      • NY Penal Law, Article 470
                      • FinCEN Advisories
                      • FinCEN FAQs
                      • FinCEN Federal Registers
                      • More AML Laws, Rules and Other Documents
                      • FCPA
                      • 15 USC 78dd
                      • 15 USC 78m
                      • FCPA Resource Guide
                      • More FCPA Laws, Rules and Other Documents
                      • Sanctions
                      • Statutes Relevant to Sanctions
                      • Sanctions Rule
                      • OFAC Federal Registers
                      • Executive Orders
                      • More Sanctions Laws, Rules and Other Documents
                  • NASAA and State Law
                    • NASAA and State Law
                      • NASAA
                      • Uniform Securities Act
                      • Uniform Securities Act (1956), As Amended
                      • Model Rules: Advisers
                      • Model Rules: Broker-Dealers
                      • Model Rules: Offerings
                      • Delaware
                      • Delaware General Corporation Law
                      • New York Statutes
                      • Martin Act
                      • Requirement of Written Agreement
                      • Anti-Money Laundering
                      • New York Rules and Interpretations
                      • Virtual Currencies Regulation
                      • Annuity Regulations
                      • NYDFS Letters on Bank Insolvency
                  • Antitrust and CFIUS
                    • Antitrust and CFIUS
                      • Hart-Scott-Rodino
                      • Act
                      • Rules
                      • HSR Guidance
                      • HSR - Introductory Guide I
                      • HSR - Introductory Guide II
                      • HSR: Back to Basics Workshop Transcript
                      • The Most Frequently Asked HSR Questions
                      • CFIUS
                      • Defense Production Act
                      • Rules
                      • Federal Registers
                      • Executive Orders
                  • Statutes, Rules and Public Laws
                    • Statutes, Rules and Public Laws
                      • All Statutes
                      • All Rules
                      • All Public Laws
                    • Analytic Materials
                      • Analytic Materials
                        • Cabinet Materials
                        • Broker-Dealer Guide
                        • CEA Guide
                        • Hedge Fund Guide
                        • Pamphlets
                        • Anti-Money Laundering Regulation for Financial Institutions
                        • Blue Sky Law Registration Requirements
                        • Guide to Federal Income Tax of Hedge Fund
                        • Section 23A for Broker-Dealers
                        • Quick Guide to U.S. Economic Sanctions
                        • More Legal Writings
                        • Governmental Materials
                        • SEC Compliance Guides
                        • SEC Guide to Broker-Dealer Registration
                        • SEC Guide to ICA Registration
                        • SEC Guidance for Newly-Registered Investment Advisers
                        • FRB Compliance Guides
                        • FRB Supervision and Regulation Letters
                        • Comptroller Handbooks
                        • Comptroller Interpretive Letters
                        • FDIC Financial Institution Letters
                    • Individuals and Organizations
                      • Individuals and Organizations
                        • Speeches, Statements & Testimony
                        • Elizabeth A. Warren
                        • Steven T. Mnuchin
                        • J. Christopher Giancarlo
                        • Jerome H. Powell
                        • Randal Quarles
                        • Walter Jay Clayton
                        • Hester Peirce
                        • Kara M. Stein
                        • Lael Brainard
                        • Robert Jackson
                        • All Individuals
                        • Reports
                        • Alternative Reference Rates Committee
                        • Congressional Research Service
                        • Financial Stability Oversight Council
                        • Futures Industry Association
                        • Government Accountability Office
                        • Investment Company Institute
                        • Managed Funds Association
                        • North American Securities Administrators Association
                        • Office of Financial Research
                        • Securities Industry and Financial Markets Association
                  • Events
                  • News
                  • Tools
                    • Glossaries
                    • Interactive Applications
                    • Change Management Tracker
                  • About
                    • About News
                    • About Berkeley
                    • Contributors
                    • Help
                    • Purpose
                  • Sign in
                  Advanced Search

                  Not just data.
                  Information in context.

                  News & Headlines

                  Receive our daily newsletter

                  14 results
                  Search Narrowed by Text
                  Search Terms

                  Search Narrowed by Categories
                  • Remove CEA Regulation filter CEA Regulation
                  • Remove Insurance filter Insurance
                  • Remove Conflicts of Interest filter Conflicts of Interest
                  date:
                  body of law:
                  • Remove CEA Regulation filter CEA Regulation
                  • Remove Insurance filter Insurance
                  • Securities Apply Securities filter 71
                  • Banking Apply Banking filter 5
                  • Accounting Apply Accounting filter 3
                  • Contracts Apply Contracts filter 3
                  • Tax Apply Tax filter 2
                  • AML Apply AML filter 1
                  • Antitrust Apply Antitrust filter 1
                  issuing jurisdiction:
                  • United States Apply United States filter 12
                  • US - Federal Apply US - Federal filter 12
                  • Global Apply Global filter 3
                  author organization:
                  • CFTC Apply CFTC filter 6
                  • NFA Apply NFA filter 4
                  • Cadwalader Apply Cadwalader filter 1
                  • FINRA Apply FINRA filter 1
                  • Industry Associations Apply Industry Associations filter 1
                  • Int. Organizations Apply Int. Organizations filter 1
                  • IOSCO Apply IOSCO filter 1
                  • ISDA Apply ISDA filter 1
                  news type:
                  • Enforcement News Apply Enforcement News filter 7
                  • Legal / Regulatory News Apply Legal / Regulatory News filter 7
                  enforcement type:
                  federal register type:
                  book compilation:
                  regulatory status:
                  regulated activities:
                  • Remove Conflicts of Interest filter Conflicts of Interest
                  • Trading Apply Trading filter 403
                  • Cross-Border Apply Cross-Border filter 324
                  • Position Limits Apply Position Limits filter 248
                  • Registration Requirement Apply Registration Requirement filter 238
                  • Central Clearing Apply Central Clearing filter 222
                  • Margining Apply Margining filter 206
                  • Regulatory Reporting Apply Regulatory Reporting filter 201
                  • Meetings Apply Meetings filter 147
                  • Regulatory Oversight Apply Regulatory Oversight filter 120
                  • Custody Apply Custody filter 118
                  • Trade Reporting Apply Trade Reporting filter 116
                  • Fintech Apply Fintech filter 108
                  • Supervision / Compliance Apply Supervision / Compliance filter 108
                  • Capital Apply Capital filter 102
                  • Recordkeeping Apply Recordkeeping filter 98
                  • Disclosures Apply Disclosures filter 92
                  • Regulatory Activities Apply Regulatory Activities filter 90
                  • Technology (not Cyber) Apply Technology (not Cyber) filter 65
                  • Risk Management Apply Risk Management filter 64
                  • Regulatory Personnel Apply Regulatory Personnel filter 53
                  • Governance Apply Governance filter 52
                  • Regulatory Exemptions Apply Regulatory Exemptions filter 49
                  • 557 Apply 557 filter 43
                  • Employees Apply Employees filter 43
                  • Registration Process Apply Registration Process filter 41
                  • Volcker Apply Volcker filter 40
                  • Ownership Apply Ownership filter 36
                  • Algo / Electronic Apply Algo / Electronic filter 35
                  • Liquidation Apply Liquidation filter 34
                  • Communications Apply Communications filter 32
                  • Stress Testing Apply Stress Testing filter 31
                  • Jurisdiction by Product or Activity Apply Jurisdiction by Product or Activity filter 29
                  • Suitability and Consumer Protection Apply Suitability and Consumer Protection filter 28
                  • Activity Limits Apply Activity Limits filter 26
                  • Rulemaking Apply Rulemaking filter 26
                  • AML Compliance Apply AML Compliance filter 25
                  • CCO Obligations Apply CCO Obligations filter 23
                  • Trade Documentation Apply Trade Documentation filter 22
                  • Permitted Investments Apply Permitted Investments filter 21
                  • Account Handling Apply Account Handling filter 20
                  • Data Protection / Cybersecurity Apply Data Protection / Cybersecurity filter 20
                  • Financial Recordkeeping & Reporting Apply Financial Recordkeeping & Reporting filter 20
                  • Liquidity Requirements Apply Liquidity Requirements filter 19
                  • Regulatory Organization Apply Regulatory Organization filter 18
                  • Sales Apply Sales filter 18
                  • Enforcement Procedures Apply Enforcement Procedures filter 17
                  • Close-Out Apply Close-Out filter 15
                  • Accounting and Audit Apply Accounting and Audit filter 14
                  • Business Continuity Apply Business Continuity filter 14
                  • Confirmations Apply Confirmations filter 14
                  • Valuation and Appraisal Apply Valuation and Appraisal filter 14
                  • Marketing Materials Apply Marketing Materials filter 13
                  • Insider Trading Apply Insider Trading filter 12
                  • Regulatory Fees Apply Regulatory Fees filter 12
                  • Advice and Fiduciary Apply Advice and Fiduciary filter 11
                  • Capital Markets Apply Capital Markets filter 11
                  • Lending Apply Lending filter 11
                  • Exchange Listing Apply Exchange Listing filter 10
                  • Hedging Apply Hedging filter 10
                  • 1602 Apply 1602 filter 9
                  • Arbitration / Litigation Apply Arbitration / Litigation filter 9
                  • Privacy Rights Apply Privacy Rights filter 9
                  • Sec Loan / Repo / TBA Apply Sec Loan / Repo / TBA filter 9
                  • 1604 Apply 1604 filter 7
                  • Exempt Sales Apply Exempt Sales filter 7
                  • Private Placements (Reg D) Apply Private Placements (Reg D) filter 7
                  • Account Statements Apply Account Statements filter 6
                  • Counterparty Types Apply Counterparty Types filter 6
                  • Trade Settlement Apply Trade Settlement filter 6
                  • Operations Apply Operations filter 5
                  • Trade Types Apply Trade Types filter 5
                  • 1607 Apply 1607 filter 4
                  • Branch Offices Apply Branch Offices filter 4
                  • Legislative / Rulemaking Process Apply Legislative / Rulemaking Process filter 4
                  • Misconduct Apply Misconduct filter 4
                  • Proxies / Voting Apply Proxies / Voting filter 4
                  • 1804 Apply 1804 filter 3
                  • Bank Transactions and Startups Apply Bank Transactions and Startups filter 3
                  • Contract Terms Apply Contract Terms filter 3
                  • Jurisdiction: Fed / Local or by Geography Apply Jurisdiction: Fed / Local or by Geography filter 3
                  • M&A and Corporate Form Transactions Apply M&A and Corporate Form Transactions filter 3
                  • Public Offerings Apply Public Offerings filter 3
                  • 1603 Apply 1603 filter 2
                  • 1789 Apply 1789 filter 2
                  • Codes of Ethics Apply Codes of Ethics filter 2
                  • Hedging Apply Hedging filter 2
                  • Research Apply Research filter 2
                  • 515 Apply 515 filter 1
                  • Community Lending Apply Community Lending filter 1
                  • Disclosures: Reg S-K Apply Disclosures: Reg S-K filter 1
                  • Exchange and Tender Offers Apply Exchange and Tender Offers filter 1
                  • Fairness Opinions Apply Fairness Opinions filter 1
                  • Fees to Customers Apply Fees to Customers filter 1
                  • Insurance / Bonding Apply Insurance / Bonding filter 1
                  • Outsourcing Apply Outsourcing filter 1
                  • Regulatory Procedures Apply Regulatory Procedures filter 1
                  • Securities Activities of Banks Apply Securities Activities of Banks filter 1
                  • Telemarketing Apply Telemarketing filter 1
                  • Waiver Apply Waiver filter 1
                  regulated entities:
                  • Adviser / CTA / CPO Apply Adviser / CTA / CPO filter 6
                  • FCMs and IBs Apply FCMs and IBs filter 2
                  • Swap Dealers / SBSDs Apply Swap Dealers / SBSDs filter 2
                  • Banking Entities Apply Banking Entities filter 1
                  • Broker-Dealers Apply Broker-Dealers filter 1
                  • Foreign Entities Apply Foreign Entities filter 1
                  • Investment Funds Apply Investment Funds filter 1
                  • Issuers Apply Issuers filter 1
                  • Markets Apply Markets filter 1
                  • Private Funds Apply Private Funds filter 1
                  • Public Funds Apply Public Funds filter 1
                  • SEFs / SBSEFs Apply SEFs / SBSEFs filter 1
                  regulated products:
                  • Swaps / SBS Apply Swaps / SBS filter 3
                  • Indices Apply Indices filter 1
                  • Insurance Related Securities (Annuities) Apply Insurance Related Securities (Annuities) filter 1
                  affected jurisdiction:
                  penalty amount (approximate):
                  disgorgement amount (approximate):
                  • July 17, 2019

                    CPO and Principal Settle NFA Charges for Making Improper Loans and Advances

                    A CPO and its principal settled NFA charges for making improper loans and advances of pool assets.
                  • December 26, 2018

                    CPO and Principal Settle Charges Related to Post-Trade Allocations

                    A CPO and its principal agreed to settle CFTC charges for fraudulent misallocation of trades and recordkeeping failures.
                    nihal.patel@cwt.com's picture
                    Commentary by Nihal Patel
                  • December 07, 2018

                    CFTC Provides Audit Relief to FCM

                    The CFTC Division of Swap Dealer and Intermediary Oversight exempted a futures commission merchant from certain audited financial reports requirements.
                  • September 17, 2018

                    Introducing Broker Penalized for Failure to Stop Improper Trade Allocations

                    An introducing broker and two principals settled charges for failing to detect post-execution trade allocation activity that favored the accounts of the commodity trading advisor and hurt its customers.
                  • May 29, 2018

                    FCM Settles Charges involving Misallocations of Trades

                    A registered futures commission merchant agreed to settle CFTC and National Futures Association charges relating to an unlawful post-execution allocation scheme.
                  • January 16, 2018

                    Banks Accused of Manipulating Derivatives Benchmark

                    A pension fund filed a lawsuit accusing nine banks of manipulating an interest rate benchmark in order to increase derivatives trading profits.
                  • October 31, 2017

                    CFTC Extends Exemptive Relief to SEFs from Certain Audit Trail Data Requirements

                    The CFTC Division of Market Oversight extended previously issued relief to swap execution facilities from the requirement to capture post-execution information in their audit trail data.
                    bzwirb's picture
                    Commentary by Bob Zwirb
                  • October 10, 2017

                    IOSCO Shares Feedback on CDS Determinations and Auction Processes

                    The Board of the International Organization of Securities Commissions (IOSCO) issued a statement on research conducted by the IOSCO Task Force on OTC Derivatives Regulation concerning credit default swap auction processes and the functioning of the ISDA Credit Determinations Committees.
                  • August 23, 2017

                    Delaware Court Extends Business Judgment Rule Deference to Controller Transactions Involving Third Parties

                    The Delaware Court of Chancery ruled that the business judgment rule may be applicable to reviews of transactions involving third parties.
                  • May 03, 2017

                    NFA Fines CPO/CTA $1 Million for Prohibited Loans and Disclosure Violations

                    The National Futures Association levied a $1 million fine against a London-based commodity pool operator and commodity trading adviser for allowing prohibited loans, failing to disclose material information to pool participants, and other misconduct concerning its chief executive officer.
                  • Previous
                  • 1
                  • 2
                  • Next

                  Request delivery of the Cadwalader Cabinet Newsletter.

                  User menu

                  • Attorney Advertising
                  • Terms of Use
                  • Privacy
                  2008-2019
                  • Main menu
                    • Topics
                      • Broker-Dealers
                        • Overview
                        • FINRA Materials
                        • FINRA: Rule by Rule
                        • Muni Advisors
                        • Muni Securities and Dealers
                        • Muni Securities Documents
                        • MSRB Rules: Rule by Rule
                        • Government Securities Dealers
                        • 100's More Broker-Dealer Topics
                        • Separator for Broker-Dealer
                        • Capital Requirements
                        • Regulation Best Interest
                        • Non-U.S. Broker-Dealer (Rule 15a-6)
                      • Commodity Exchange Act
                        • Overview
                        • CFTC Supervision and CCO
                        • Position Limits
                        • FCMs
                        • FCM / IB Registration Requirement
                        • BD and FCM Risk Assessment Rules
                        • BD and FCM Subordination Agreements
                        • BD and CEA Withdrawals of Capital
                        • FCM Capital
                        • FCMs and Swap Dealer Custody
                        • More CEA Topics
                        • Separator for Commodity
                        • Swaps and Swap Dealers
                        • Margin for Uncleared Swaps
                        • FCMs and Swap Dealer Custody
                        • Swap Dealer and SBSD Capital
                        • CPOs and CTAs
                        • Disclosures
                        • Recordkeeping
                        • Registration Process
                        • Registration Requirement
                        • Reporting on Form PQR, and Form PR
                      • Advisers, Funds and Plans
                        • Overview
                        • ERISA
                        • Municipal Advisors
                        • IA Regulation
                        • Standard of Conduct and Fiduciary Guidance
                        • Business Continuity
                        • Incentive Compensation
                        • Pay to Play
                        • Recordkeeping and Reporting
                        • Registration Requirement
                        • SEA 13(f) Position Reporting
                        • Soft Dollars
                        • Custody Requirements
                        • Separator for Advisers and Funds
                        • Definition of Investment Adviser
                        • Form CRS
                        • More Adviser and Funds Topics
                        • Investment Companies
                        • Overview of Exemptions from Registration under the ICA
                        • Capital Structure, Senior Securities, Liquidity
                        • Custody Requirements
                      • Banking
                        • Overview
                        • FRA 23A and 23B and Reg W
                        • Community Reinvestment Act
                        • Volcker
                        • Truth in Lending
                        • Truth in Savings
                        • Capital Requirements
                        • Enforcement Procedures
                        • Money Service Businesses
                      • Products and Contracts
                        • Cannabis Finance
                        • Commodity Options
                        • Crypto and Initial Coin Offerings
                        • Government Securities and Dealers
                        • LIBOR and Indices
                        • Municipal Securities and Dealers
                        • Separator for Products and Contracts
                        • Securities Lending
                        • Securities Options
                        • Security Futures Products
                        • TBAs and the MSFTA
                      • Credit and Insolvency
                        • Overview
                        • BD Insolvency
                        • FCM Insolvency
                        • Insolvency of Banks
                        • Protected Financial Contracts
                        • Security Interests and UCC
                      • Cybersecurity
                        • Cybersecurity and Data Protection
                      • Enforcement and Bad Acts
                        • Anti-Money Laundering
                        • Disqualifications and Waivers
                        • Foreign Corrupt Practices Act
                        • Insider Trading
                        • SEC and FINRA
                        • Sanctions
                        • Whistleblowers
                      • Investors
                        • Comm. on Foreign Investment in US ("CFIUS")
                        • Hart-Scott-Rodino
                        • SEA 13(f) Position Reporting
                      • Issuers and Offerings
                        • Asset-Backed Securities
                        • Conflict Minerals
                        • Issuer Repurchases Rule 10b-18
                        • Issuer Securities Regulation and Del. Corp. Law
                        • Regulation FD (Fair Disclosure)
                        • Securities Offerings
                        • Corporate Financing Rule
                        • FINRA Private Placement Rules (5122 and 5123)
                      • Regulatory Policy
                        • Dodd-Frank
                        • Policy
                    • Documents
                      • Federal Securities
                        • Statutes
                        • Investment Advisers Act
                        • Investment Company Act
                        • Securities Act
                        • Securities Exchange Act
                        • Trust Indenture Act
                        • Rules
                        • Investment Advisers Act
                        • Investment Company Act
                        • Securities Act
                        • Securities Exchange Act
                        • Securities Act / Securities Exchange Act Regulations
                        • Trust Indenture Act Rules
                        • More Federal Securities Laws, Rules and Other Documents
                        • separator for securities
                        • SEC Administrative Materials
                        • SEC Federal Registers
                        • SEC Enforcement Releases
                        • SEC No-Action Letters
                        • SEC Forms
                        • Securities SROs
                        • FINRA Rules
                        • MSRB Rules
                        • FINRA / MSRB Notices
                        • SRO Federal Registers
                        • SRO Enforcement Releases
                      • Commodity Exchange Act and Energy
                        • CEA and Related Rules
                        • CEA
                        • CFTC Rules
                        • NFA Rules
                        • CEA Judicial Decisions
                        • Supreme Court and Circuit Court Cases
                        • More CEA-Related Documents
                        • Separator for Commodities
                        • CFTC Documents
                        • CFTC Fact Sheets
                        • CEA FAQs
                        • CEA Federal Registers
                        • CFTC Guidance on Cross-Border Futures Transactions
                        • CFTC Guidance on Cross-Border Swaps
                        • CFTC Orders
                        • CFTC No-Action Letters
                        • CEA Speeches, Statements and Testimony
                        • CEA Studies and Reports
                        • NFA Documents
                        • NFA Notices
                        • NFA Regulatory Guidance
                      • Federal Banking
                        • Statutes
                        • Antitying Act
                        • Bank Holding Company Act of 1956
                        • Community Reinvestment Act
                        • Consumer Credit Protection Statutes
                          • Truth in Lending Act
                          • Consumer Leasing Act
                          • Fair Credit Reporting Act
                          • Equal Credit Opportunity Act
                          • Fair Debt Collection Practices Act
                          • Electronic Fund Transfers Act
                        • Federal Deposit Insurance Act
                        • Federal Reserve Act
                        • International Banking Act
                        • National Banking Act
                        • Real Estate Settlement Procedures Act
                        • More Banking Laws, Rules and Other Documents
                        • separator for banking
                        • Rules
                        • Comptroller Rules
                        • FDIC Rules
                        • FRB Rules
                        • Government Securities Act Rules
                        • CFPB Rules
                        • Banking Guidance
                        • Comptroller Handbooks
                        • Comptroller Interpretive Letters
                        • FDIC Financial Institution Letters
                        • FRB Compliance Guides
                        • FRB Supervision and Regulation Letters
                        • CFPB Supervisory Highlights
                      • ERISA
                        • Statutes
                        • Employee Retirement Income Security Act
                        • Internal Revenue Code Provisions Related to ERISA
                        • Rules
                        • ERISA Rules
                          • DOL Fiduciary Rule (Final)
                          • DOL Fiduciary Rule (Proposed)
                        • Internal Revenue Regulations Related to ERISA
                        • Separator for ERISA
                        • Other Documents
                        • DOL Federal Registers
                        • DOL FAQs
                        • DOL Glossaries
                        • Pension Benefit Guaranty Corporation Federal Registers
                      • Credit
                        • Bankruptcy Laws
                        • Bankruptcy Code
                        • Federal Deposit Insurance Corporation Improvement Act
                        • SIPA
                        • Securities Investor Protection Act
                        • Securities Investor Protection Corporation Rules
                        • SIPC Letters and Interpretations
                        • SIPC Annual Reports
                        • separator for credit
                        • State Law
                        • New York Statute
                        • Other Documents
                        • Bankruptcy Basics​
                        • Hague Convention
                        • Court Decisions
                        • NYDFS Letters on Bank Insolvency
                      • AML, FCPA and Sanctions
                        • AML
                        • Bank Secrecy Act
                        • Bank Secrecy Act Rules
                        • Federal Crime of Money Laundering
                        • NY Penal Law, Article 470
                        • FinCEN Advisories
                        • FinCEN FAQs
                        • FinCEN Federal Registers
                        • More AML Laws, Rules and Other Documents
                        • separator for AML
                        • FCPA
                        • 15 USC 78dd
                        • 15 USC 78m
                        • FCPA Resource Guide
                        • More FCPA Laws, Rules and Other Documents
                        • Sanctions
                        • Statutes Relevant to Sanctions
                        • Sanctions Rule
                        • OFAC Federal Registers
                        • Executive Orders
                        • More Sanctions Laws, Rules and Other Documents
                      • NASAA and State Law
                        • NASAA
                        • Uniform Securities Act
                        • Uniform Securities Act (1956), As Amended
                        • Model Rules: Advisers
                        • Model Rules: Broker-Dealers
                        • Model Rules: Offerings
                        • Delaware
                        • Delaware General Corporation Law
                        • Separator for state law
                        • New York Statutes
                        • Martin Act
                        • Requirement of Written Agreement
                        • Anti-Money Laundering
                        • New York Rules and Interpretations
                        • Virtual Currencies Regulation
                        • Annuity Regulations
                        • NYDFS Letters on Bank Insolvency
                      • Antitrust and CFIUS
                        • Hart-Scott-Rodino
                        • Act
                        • Rules
                        • HSR Guidance
                        • HSR - Introductory Guide I
                        • HSR - Introductory Guide II
                        • HSR: Back to Basics Workshop Transcript
                          • FTC Announces 2017 Thresholds for Merger Control Filings Under the HSR Act and Interlocking Directorates Under the Clayton Act
                          • A “Sound Basis” Exists for Revising the HSR Act’s Investment-Only Exemption
                        • The Most Frequently Asked HSR Questions
                        • separator for antitrust
                        • CFIUS
                        • Defense Production Act
                        • Rules
                        • Federal Registers
                        • Executive Orders
                      • Statutes, Rules and Public Laws
                        • All Statutes
                        • All Rules
                        • All Public Laws
                        • separator for statutes
                      • Analytic Materials
                        • Cabinet Materials
                        • Broker-Dealer Guide
                          • Introduction
                          • What is a Security?
                          • Registration Requirement
                          • How to Register
                          • Employees and APs
                          • Customers
                          • Communications
                          • Research
                          • Trading
                          • Capital Requirements
                          • Custody
                          • ERISA
                          • Insolvency of Broker-Dealers
                          • Internal Investigations
                          • Margin and Credit
                          • Non-U.S. Broker-Dealers
                          • Records, Reports and Inspections
                          • Supervision
                          • Insider Trading
                        • CEA Guide
                          • Introduction to the CEA
                          • What Is a Swap and Other Jurisdictional Questions
                          • What Is a Pool; CPO/CTA Registration Requirement
                          • Application for CPO/CTA Registration
                          • Trading
                          • Margin
                          • Supervision
                          • Non-U.S. Pools
                          • Non-U.S. FCMs and Futures
                          • Insolvency
                          • Appendices
                        • Hedge Fund Guide
                          • Introduction
                          • Documentation
                          • Adviser Registration Requirement
                          • Adviser Registration Process
                          • Issuer Exemptions Under the ICA and Exchange Act
                          • Securities Act and State Registration Exemptions
                          • Broker-Dealer and other Sales Issues
                          • Communications
                          • Trading
                          • Ownership and Custody
                          • Margin and Credit
                          • Records, Reports, and Inspections
                          • Supervision and Code of Ethics
                          • ERISA
                          • Relationships with Banks
                        • Pamphlets
                        • Anti-Money Laundering Regulation for Financial Institutions
                        • Blue Sky Law Registration Requirements
                        • Guide to Federal Income Tax of Hedge Fund
                        • Section 23A for Broker-Dealers
                        • Quick Guide to U.S. Economic Sanctions
                        • More Legal Writings
                        • separator for legal writing
                        • Governmental Materials
                        • SEC Compliance Guides
                        • SEC Guide to Broker-Dealer Registration
                        • SEC Guide to ICA Registration
                        • SEC Guidance for Newly-Registered Investment Advisers
                        • FRB Compliance Guides
                        • FRB Supervision and Regulation Letters
                        • Comptroller Handbooks
                        • Comptroller Interpretive Letters
                        • FDIC Financial Institution Letters
                      • Individuals and Organizations
                        • Speeches, Statements & Testimony
                        • White House / President
                        • Elizabeth A. Warren
                        • Executive Orders
                        • Memoranda
                        • Steven T. Mnuchin
                        • News
                        • J. Christopher Giancarlo
                        • Regulatory Guidance
                        • Jerome H. Powell
                        • Statutes
                        • Glossary
                        • Randal Quarles
                        • News
                        • Walter Jay Clayton
                        • Hester Peirce
                        • Speeches, Statements & Testimony
                        • Studies and Reports
                        • Kara M. Stein
                        • Lael Brainard
                        • Robert Jackson
                        • All Individuals
                        • Separator for government
                        • Reports
                        • Alternative Reference Rates Committee
                        • Congressional Research Service
                        • Financial Stability Oversight Council
                        • Futures Industry Association
                        • Government Accountability Office
                        • Investment Company Institute
                        • Managed Funds Association
                        • North American Securities Administrators Association
                        • Office of Financial Research
                        • Securities Industry and Financial Markets Association
                    • Events
                    • News
                    • Tools
                      • Glossaries
                      • Interactive Applications
                      • Change Management Tracker
                    • About
                      • About News
                      • About Berkeley
                      • Contributors
                      • Help
                      • Purpose
                    • Sign in
                    • Account