Commentary by Steven Lofchie and Sebastian Souchet
The CFTC fined a crypto company for falsely claiming that its coins were backed by U.S. dollars and a second crypto company for executing illegal, off-exchange retail transactions in digital assets commodities.
The Investment Company Institute Board of Governors unanimously adopted a statement detailing steps that funds can take to facilitate a transition toward a lower-carbon economy, "consistent with a fund’s investment objectives and strategies, investors’ interests, and a fund manager’s fiduciary obligations."
A subcommittee of the CFTC Market Risk Advisory Committee recommended that interdealer brokers switch trading conventions from LIBOR to SOFR for USD non-linear derivatives beginning on November 8, 2021.
The Cabinet Regulatory Tracker is a list of effective dates and comment deadlines.
The Council of Institutional Investors reiterated its "strong support" for a House bill that would amend the Exchange Act to limit non-proportional voting power and establish board diversity listing standards for multi-class stock companies.