OFAC sanctioned eight Chinese technology firms for supporting the tracking and surveillance of minority groups in China, including members of the predominantly Muslim Uyghur and Kazakh communities. OFAC placed these companies on the Non-Specially Designated Nationals Chinese Military-Industrial Complex List.
The SEC proposed three new rules relating to security-based swaps: (1) an anti-fraud rule, (2) a rule to require reporting of large positions in security-based swaps, and (3) a rule prohibiting personnel of an SBS entity from taking any action to improperly interfere with the SBS entity's CCO in the performance of such persons duties.
The SEC issued a second no-action letter to FINRA providing relief to member firms that do not comply with Exchange Act Rule 15c2-11 concerning fixed income securities until dates beginning on January 3, 2022, and staggered in three phases.
The SEC proposed amendments to enhance share repurchase disclosure regulations that would require (i) issuers to provide more comprehensive disclosures on a new Form SR regarding each day that an issuer, or affiliated purchaser, makes a share repurchase and (ii) more frequent disclosures of share repurchases.
SIFMA, DTCC and the Investment Company Institute outlined their plans to shorten the settlement cycle for U.S.-issued securities. In a joint report, the organizations identified the end of Q2 in 2024 as the target date for completion.