Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.
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In a report to several Congressional committees, GAO reviewed proposed and enacted changes to the U.S. Bankruptcy Code relating to the Orderly Liquidation Authority.
ISDA updated its Model Netting Act, which provides a template for jurisdictions considering enforcing close-out netting.
ISDA added a Japanese jurisdictional module to its Resolution Stay Jurisdictional Modular Protocol. The new module is intended to facilitate compliance with Japanese regulations that require contractual stays to be included in certain financial contracts that are not governed by Japanese law.
The Secretary of the Treasury, as Chair of the Financial Stability Oversight Council, adopted final rules to implement the qualified financial contract recordkeeping requirements of the Dodd-Frank Act.