Commentary by Bob Zwirb
The CFTC Division of Swap Dealer and Intermediary Oversight clarified the circumstances in which Customer Identification Program and Beneficial Ownership regulations under the Bank Secrecy Act do not apply to "voice" brokers.
The North American Securities Administrators Association advised market participants of the risks and potential tax benefits associated with investments in "opportunity zones."
A CFTC supplemental rule proposal was published in the Federal Register which would permit low-risk derivatives clearing organizations that are exempt from registration to offer clearing to U.S. persons under certain circumstances.
The Basel Committee on Banking Supervision and IOSCO agreed to a one-year extension of the implementation of derivatives initial margin requirements.
A global technology company and its subsidiary settled SEC and DOJ charges for violating the books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act.