A bipartisan group of senators introduced a bill which would impose federal beneficial ownership reporting requirements for legal entities established under state law, intended to assist law enforcement in fighting money laundering and terrorist financing.
A bipartisan group of U.S. senators proposed the "ILLICIT CASH Act," which would establish federal reporting requirements to help federal and local law enforcement officials more easily access beneficial ownership information.
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.
CFTC Commissioner Brian Quintenz discussed ways in which he believes a lack of transparency during the financial crisis has been addressed by post-crisis reforms requiring data reporting, central clearing, and posting margin.
In a podcast interview with CFTC Chief Market Intelligence Officer Andrew Busch, CFTC Enforcement Director James McDonald described his approach to enforcement and emphasized the importance of incentives for self-reporting.
IOSCO published a consultation report containing a series of recommendations that are intended to increase transparency and the availability of public information in the secondary corporate bond markets.
The CFTC Division of Market Oversight extended no-action relief to members of ISDA and the Futures Industry Association regarding the masking of certain required identity information in certain non-U.S. jurisdictions.
The CFTC Division of Market Oversight granted time-limited no-action relief to certain market participants, who are eligible for an exemption from aggregation, from having to comply with notice filing and certification requirements.
A financial services firm and its parent company agreed to pay a $120 million penalty to settle CFTC charges that it submitted false reports in an attempt to manipulate a global benchmark for interest rate products.