The comment deadline was officially set for the SEC's proposed (i) amendments to current requirements on clearing agencies' risk-based margin systems and (ii) new rule on the content of clearing agencies' recovery and wind-down plans. The July 17, 2023 comment deadline was published in the Federal Register.
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At a hearing before the House Financial Service Committee, FTX's new CEO John J. Ray III testified on the events leading up to the company's collapse.
Senior officials from the Bank of England, the FDIC, the CFTC, the SEC and the Federal Reserve Board reviewed joint progress on central counterparty resolution issues and on the development of detailed operational planning to support prototype resolution strategies for UK and U.S. CCPs.
Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.
In a supervision and regulation letter to institutions that have large derivatives portfolios and relationships with investment funds, the Federal Reserve Board reiterated previously issued expectations as to large banks' counterparty credit risk management and margin practices.