In a set of recommendations to Congress, the North American Securities Administrators Association emphasized protections for retail investors, seniors and securities markets, as well as the continued "empowerment" of state regulatory authorities.
The MSRB provided guidance to investment advisers on the application of certain investor/customer protections. The new guidance relates to transactions for managed accounts in which a registered investment adviser is exercising discretion to buy and sell municipal securities on behalf of the account holder.
The Federal Reserve Bank of New York issued a new policy on counterparties for all domestic and foreign market operations. The new policy includes reduced capital requirements applicable to broker-dealer counterparties, including primary dealers in government securities.
The technical standards for the EU rules on margin for non-cleared OTC derivatives moved one step further towards the effective date, with the publication by the European Commission of the final RTS on October 4, 2016.
The SEC is set to order an inflation based adjustment to the dollar amount thresholds applicable to the minimum net worth requirements of "qualified clients" under the Investment Advisers Act. The threshold adjustment permits investment advisers to charge performance-based fees.
The CFTC's final rule on trade options was published in the Federal Register. The rule amends the limited trade options exemption in the CFTC Regulations in order to substantially reduce and/or eliminate certain reporting and recordkeeping requirements for end users entering into trade options.
The SEC issued interpretive guidance clarifying how it will interpret the terms "spouse" and "marriage" in light of the Supreme Court's ruling in United States v. Windsor . The interpretive guidance was published in the Federal Register. The interpretive guidance stated that the SEC will read the...
The CFTC's proposed amendments to the trade option exemption for end users were published in the Federal Register. The trade option exemption pertains to reporting requirements for trade option counterparties that are not swap dealers or major swap participants, as well as to recordkeeping...