Commentary by Steven Lofchie and Nihal Patel
SEC Chair Jay Clayton and CFTC Chair J. Christopher Giancarlo stated their intention to explore whether portfolio margining would be an area where SEC-CFTC "harmonization" would be beneficial.
The FTC reminded market participants to ensure that persons do not serve as officers or directors of competing companies during restructurings or acquisitions.
A broker-dealer agreed to pay $250,000 to settle FINRA charges that it failed to provide customers with initial margin interest rate disclosures.
SEC Chief of Staff Lucas Moskowitz will leave the agency in August 2019. The SEC named Sean Memon as the new Chief of Staff and Bryan Wood as Deputy Chief of Staff.
By a 224 to 196 vote, the House of Representatives passed an amendment to the Financial Services and General Government Appropriations bill that would prohibit the SEC from implementing, administering, enforcing or publicizing Regulation BI and related rules and interpretations recently adopted by the SEC.