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Commentary by Steven Lofchie

In a new Bulletin, which replaced and rescinded previous guidance, the Office of the Comptroller of the Currency advised regulated banks to prepare for the reduction in the settlement cycle for regular way trades.

The Federal Reserve Board and the Treasury Office of Foreign Assets Control fined a banking entity for apparent sanctions violations. The regulators charged that the bank provided software to a European bank engaged in transactions with sanctioned jurisdictions.

The U.S. District Court for the Southern District of New York dismissed allegations that ten of the world's largest banks engaged in two interrelated antitrust conspiracies in the U.S. Treasury securities market.