The Basel Committee on Banking Supervision updated Basel III Net Stable Funding Ratio framework interpretation FAQs.
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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.
An administrative law judge dismissed an insider trading case brought by the SEC against a trader at an investment bank. The case examined the personal benefit prong of the "misappropriation theory". The inside information was provided by a research analyst at the bank and concerned an imminent change in the rating of a security. Administrative Law Judge Jason S. Patil concluded that the SEC Division of Enforcement failed to meet its burden of proof in attempting to show that the insider tip was offered in exchange for a personal benefit and that, given the absence of proof of personal benefit
ISDA CEO Scott O'Malia outlined recent and forthcoming efforts to address benchmark reforms.
An Office of Financial Research working paper examined how risk-taking in the repurchase agreement market changed following the introduction of the Basel III supplementary leverage ratio regulation.