The New York State Department of Financial Services extended the deadline for regulated entities to submit their plans to address the end of LIBOR and the associated risks. The deadline was extended to March 23, 2020.
The SEC final rule establishing recordkeeping and financial reporting requirements applicable to broker-dealers and security-based swap dealers was published in the Federal Register. The final rule becomes effective on February 14, 2020.
IOSCO defended its 2018 Liquidity Risk Management recommendations for investment funds against recent criticism, reasserting that the recommendations offer regulators a "comprehensive framework" for liquidity risks in investment funds.
The CPMI and IOSCO concluded that the U.S. frameworks for systemically important payment systems, central securities depositories and securities settlement systems are consistent with the Principles for Financial Market Infrastructure.
The SEC Division of Corporation Finance determined that, for the purposes of applying Exchange Act Rules related to "Collar Contracts," an insider will be deemed to own the corporation shares underlying the operating partnership units.
SIFMA and the Security Traders Association raised concerns about legislative proposals on capital formation and corporate governance currently under consideration by the U.S. Senate Committee on Banking, Housing and Urban Affairs.