Five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisers settled charges with the SEC and CFTC for recordkeeping violations after failing to preserve electronic business-communications made using their personal devices.
In response to a CFTC request for comments, NFA, FIA and ISDA addressed potential conflicts of interest and other issues related to affiliations between clearing and trading platforms and market intermediaries.
House Financial Services Committee members Mike Flood (R-NE), Ritchie Torres (D-NY), French Hill (R-AR) and Wiley Nickel (D-NC) introduced the Uniform Treatment of Custodial Assets Act. The proposed legislation would prohibit financial institutions from including crypto assets held in their custody as a liability on their balance sheet.
Trade associations and financial groups responded to a CFTC proposal that would further define requirements on recovery and wind-down plans prepared by derivatives clearing organizations.