The SEC proposed amendments to Form 13F to (i) raise the reporting threshold for institutional investment managers from $100 million to $3.5 billion, (ii) modernize its data reporting framework and (iii) update the instructions for confidential treatment requests.
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.
NFA proposed an amendment to an interpretive notice on AML compliance procedures to clarify the obligations of certain introducing brokers under a written Customer Identification Program and Beneficial Ownership regulations.
A broker-dealer settled FINRA charges for failing to amend its Form 4 Registration and Transfer Application and failing to maintain a supervisory system designed to ensure timely disclosure of reportable events.
OFAC urged persons subject to U.S. sanctions, including financial institutions and other businesses, to notify OFAC of any anticipated delays in meeting certain regulatory reporting deadlines due to COVID-19.