Commentary by Steven Lofchie
The FDIC and the SEC proposed a rule to govern the orderly liquidation of "covered brokers-dealers," or large broker-dealers that are subject to liquidation under the Dodd-Frank Act and not dissolution under the Securities Investor Protection Act.
The CFTC adopted amendments to uncleared swap margin requirements so as to comply with the "stay-related" rules applicable to "qualified financial contracts."
A Federal Reserve Board final rule that expands the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 was published in the Federal Register.
The FDIC and the SEC proposed a rule to govern the orderly liquidation of "covered brokers-dealers," or large broker-dealers that are subject to liquidation under Title II of the Dodd-Frank Act and not dissolution under the Securities Investor Protection Act ("SIPA").
FDIC Chair Martin J. Gruenberg observed that the financial industry has rebounded from the 2008 crisis and is better prepared to react to economic challenges.