The Treasury Department reported on the state of AI-cybersecurity risk and recommended that financial institutions broaden risk management and cybersecurity practices, consider greater integration of AI solutions into cybersecurity practices and collaborate on threat information sharing.
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FINRA adopted amendments to provide margin relief for specified index option positions, referred to as "protected options."
In an administrative ruling, FinCEN clarified that broker-dealers were required to collect information when opening new accounts for customers who receive assets as the beneficiary of an estate.
Two affiliated broker-dealers settled FINRA charges for lacking reasonable cybersecurity controls at branch offices. The failures resulted in multiple incidents that exposed thousands of customers' personal information.
The CFTC Global Markets Advisory Committee advanced recommendations on: (i) the use of U.S. Treasuries as margin collateral, (ii) the securities market's move to T+1 securities settlement and (iii) a digital asset taxonomy.