The CFTC rule change regarding the standards for an SRO's financial surveillance examination program for futures commission merchants ("FCMs") was published in the Federal Register. The amendments, previously covered here, will go into effect on May 3, 2019.

The SEC Division of Corporation Finance granted relief under Securities Act Rule 144A with respect to issuances by non-U.S. financial institutions of contingent convertible capital securities that are intended to raise regulatory capital for the institution. The relief was required, as the conversion price of the securities would not otherwise satisfy the conditions of Rule 144A(d)(3)(i). The Division granted relief on the basis of a number of conditions, including that: the contingent convertible securities would qualify as regulatory capital, and would be issued only for the purpose of

The SEC's Office of Investor Education and Advocacy provided an "investor preparedness checklist" to help investors with devising their saving and investing plans. Additionally, SEC Chair Jay Clayton issued videos based on town halls in a series titled "Notes from the Chairman," which supplies tips for Main Street investors.

Federal Reserve Board Vice Chair for Supervision Randal Quarles identified three principles that are critical to the "relevance" and "vitality" of the Financial Stability Board ("FSB"): engagement, vigilance and analysis. This was the second speech in which he emphasized this approach. (See, prior coverage.) In remarks at the 2019 European Bank Executive Committee Forum, Mr. Quarles said that these principles form the basis of the "most successful elements of the post-crisis reforms," and that they should remain the foundation of the FSB's work as it transitions from drafting new standards to

A Chicago-based cannabis-producing firm, Cresco Labs Inc., will acquire all of the issued and outstanding shares of Origin House, a Canadian headquartered firm that is a top cannabis distributor in California. The all-stock transaction is valued at roughly $823 million, making it the largest-ever public company acquisition in the U.S. cannabis sector. Both companies are listed on the Canadian CSE and OTCQX. According to the press release, Origin House shareholders will receive about 0.84 subordinate voting shares of Cresco Labs Inc. The combined company will have licenses for up to 51 retail