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.
The CFTC Divisions of Market Oversight, Swap Dealer and Intermediary Oversight, and Clearing and Risk warned regulated entities "to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing."
The SEC amended the definitions of "covered clearing agency," "central securities depository services" and "sensitivity analysis" to be applicable to central counterparties and securities depositories.
The Federal Reserve Board, the FDIC, the National Credit Union Administration and the OCC issued final guidance and a related policy statement on financial institutions' credit risk review and accounting for credit loss.
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.
The SEC amended the definitions of "covered clearing agency," "central securities depository services," and "sensitivity analysis" to be applicable to central counterparties and securities depositories.