The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
The CFTC voted to propose amending its uncleared swap margin regulations to (i) extend the implementation date of initial margin requirements, and (ii) exempt certain transactions from uncleared margin requirements.
The CFTC Office of the Inspector General highlighted significant deficiencies in the agency's Data Governance Program and advised the CFTC to either update the existing Integrated Surveillance System platform or transfer to a better platform.
House Agriculture Committee leadership urged federal banking regulators and the CFTC to work with the European Commission to: (i) adhere to the agreed upon timetable for implementation of rules on margin for uncleared swaps, or if that effort is unsuccessful, (ii) to coordinate a new global implementation timeline.
In testimony before the U.S. Senate Committee on the Judiciary, SEC Division of Enforcement Director Andrew Ceresney called for pending amendments ( S. 356 ) to the Electronic Communications Privacy Act ("ECPA") to "offer stronger privacy protections and observe constitutional boundaries without...
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