The CFTC amended its rule governing the standards for a self-regulatory organization's ("SRO") financial surveillance examination program of futures commission merchants ("FCMs"). Pursuant to CFTC Rule 1.52, SROs of designated contract markets are required to monitor an FCM member's compliance with the designated contract markets' minimum financial requirements. The amendments adopted by the CFTC revise the scope and frequency of certain requirements of this program. While the amendments still require an "examinations expert" to review the SRO's supervisory standards, it eliminates the current

The CFTC approved amendments to rules requiring notification to counterparties of their right to elect to segregate initial margin in transactions with swap dealers. The amendments are intended to alleviate burdens placed on registrants and market participants by simplifying the notification requirement and other aspects of the rules. The CFTC adopted modifications to CFTC Rules 23.700, 23.701, 23.702, 23.703, and 23.704 as proposed. Among other things, the amendments: (i) provide that notice is not required for counterparties subject to IM segregation under relevant margin requirements; (ii)

The FDIC proposed to amend two rules to streamline the process for making insurance determinations if a bank is placed into receivership. The FDIC requested feedback on a proposal to make revisions to Part 370 (Recordkeeping for Timely Deposit Insurance Determination) before the compliance date - April 1, 2020. According to the FDIC, the proposal (i) clarifies the rule's mandates, (ii) better aligns the "burdens of the rule with its benefits" and (ii) makes technical corrections. In addition, the FDIC proposed to amend Part 330 (Deposit Insurance Coverage), which requires an account to be

A German medical device and services company agreed to pay $231 million to settle charges of violating the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act ("FCPA"). According to the SEC Order, Fresenius Medical Care AG & Co. KGaA ("Fresenius") made approximately $30 million in illegal payments to government officials in Saudi Arabia, Angola, and eight countries in West Africa between 2009 and 2016, and failed to accurately record such payments in its books and records in Turkey, Spain, China, Serbia, Bosnia and Mexico. These

The SEC and UK Financial Conduct Authority ("FCA") signed two Memoranda of Understanding ("MOU") to ensure continued cooperation with respect to the oversight of regulated entities across borders. The first MOU is a supervisory arrangement covering regulated entities that "operate across the national borders." The MOU, which was originally signed in 2006, was updated to increase the scope of covered firms under the MOU to include firms that carry out derivatives, credit rating, and derivatives trading repository businesses. The second MOU was originally signed in 2013, and provides a framework