Elizabeth Warren (D-MA), Tammy Baldwin (D-WI), Sherrod Brown (D-OH), Mark Pocan (D-WI) and Pramila Jayapal (D-WA) introduced a bill to govern the private funds that engage in change in control transactions.
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FINRA reminded firms of their obligation to supervise sales of pension income stream products by their associated persons.
The NAPF issued its comments in response to the Basel Committee on Banking Supervision ("BCBS") and the International Organization of Securities Commissions' ("IOSCO") requests for comment as to the amount and handling of margin to be posted as part of OTC derivatives trades. The key points asserted by NAPF are as follows: Pension schemes use derivatives largely to hedge liabilities and, thereby, reduce risk. Extra costs or processes that provide a disincentive for pension schemes to use derivatives could in fact increase the degree of risk in the markets. The new margin requirements would