SEC Division of Investment Management Director Dalia Blass said the Division will be making recommendations on outstanding proposals concerning (i) fund of funds arrangements, (ii) funds' use of derivatives, (iii) fund valuation practices and (iv) investment adviser solicitation and advertising. She also highlighted initiatives to enhance public access to private markets.
Federal Reserve Bank of New York Executive Vice President Daleep Singh reviewed the actions taken by the Federal Reserve Board to provide emergency credit and liquidity in order to safeguard the economy during the COVID-19 pandemic.
SEC Chair Jay Clayton, Division of Corporation Finance Director William Hinman, Division of Investment Management Director Dalia Blass and Division of Trading and Markets Director Brett Redfearn provided updates on the SEC's various pandemic relief measures.
A Federal Reserve working group, made up of government and payments industry experts, developed a uniform fraud classification system to address fraud involving Automated Clearing House, wire, and check payments.
NFA reminded members that retail foreign exchange dealers / forex dealer members and introducing brokers must account in their net capital computations for guaranteed obligations and liabilities of subsidiaries or affiliates.