At a hearing before the House Financial Service Committee, FTX's new CEO John J. Ray III testified on the events leading up to the company's collapse.
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In response to a Financial Stability Board Consultation Paper on the adequacy of central counterparty ("CCP") financial resources for recovery and resolution, three financial industry trade associations argued that a "better balance between loss allocation to clearing participants and loss allocation to CCPs would promote better outcomes..."
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.
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.
The Secretary of the Treasury provided a limited exemption from qualified financial contract recordkeeping requirements to two broker-dealer subsidiaries of a financial services company.