FINRA adopted amendments to provide margin relief for specified index option positions, referred to as "protected options."
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The U.S. House of Representatives passed the Expanding Access to Capital Act of 2023 in a party line vote. The bill is intended to build on the JOBS Act of 2012 by reducing the regulatory burdens on certain capital raising transactions.
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.
The CFTC withdrew its original proposal and newly proposed to allow an FCM, subject to certain conditions, to treat separate accounts of a single beneficial owner as if they were owned by different persons, for purposes of margin withdrawals from the separate accounts.
Senate Banking Committee Chair Sherrod Brown urged Cameron Fowler, the CEO of Zelle, the instant payment platform co-owned by seven "Big Banks," to clarify the firm's policies protecting consumers from scams.