The Federal Reserve Bank and the Office of the Comptroller of the Currency fined a bank for failing to monitor firm and client trading activities.
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The SEC and the FDIC finalized a rule governing the orderly liquidation of "covered broker-dealers."
The U.S. District Court for the Southern District of New York held that certain syndicated loans sold to institutional investors are not "securities" and rejected claims of violations of federal and state securities laws.
The Federal Reserve Board proposed expanding the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991.
The Federal Housing Finance Agency ("FHFA") issued a final rule intended to improve the liquidity of Fannie Mae and Freddie Mac To-Be-Announced ("TBA") eligible mortgage-backed securities ("MBS"). The final rule requires Fannie Mae and Freddie Mac to maintain policies that promote aligned investor cash flows for both the current TBA eligible mortgage-backed securities and, upon its implementation, the uniform mortgage-backed securities ("UMBS"). The UMBS is "a common, fungible MBS that will be eligible for trading in the TBA market for fixed-rate mortgage loans backed by one-to-four unit