Commentary by Steven Lofchie
The DOL adopted a rule amendment to create a new safe harbor which allows certain employee benefit plan administrators to provide plan participants with information using electronic media as the default method of delivery.
The CFTC proposed amending the conditions under which non-U.S. CPOs qualify for exemption from registration.
The CFTC voted to adopt an interim final rule to delay the implementation of "Phase Five" initial margin requirements for uncleared derivatives from September 1, 2020 to September 1, 2021.
A broker-dealer agreed to settle FINRA charges for supervisory violations in connection with recommendations of potentially unsuitable early rollovers of investments in Unit Investment Trusts.
SEC Chair Jay Clayton and Division of Investment Management Director Dalia Blass described agency efforts to monitor and address the effects of COVID-19 on the market.