CFTC Commissioner Summer K. Mersinger asserted that the Basel III Endgame Proposal, if adopted, would have a significant negative impact on derivatives markets.
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A firm settled FINRA charges for failing to maintain minimum net capital and for failing to file same-day notifications of its net capital deficiencies.
An investment adviser settled charges with the SEC for failing to timely disclose the adviser's "control" purpose, with respect to an issuer whose shares it had acquired for the account of a hedge fund that it managed.
The CFTC proposed amendments to rules that impose minimum capital requirements and financial reporting obligations on swap dealers and major swap participants.
FINRA reminded firms that SEC rules govern how a firm's net worth must be calculated, recorded and reported. In a Regulatory Notice, FINRA offered guidance on applying financial accounting standards to revenue recognition from contracts with customers.