The SEC approved FINRA's proposal to permit broker-dealers to obtain electronically - rather than manually - signatures of personnel exercising discretionary trading authority over customer accounts. FINRA will announce the effective date of the rule change in a forthcoming Regulatory Notice. As previously covered, FINRA acknowledged that while manual signatures were historically required to assist firms in verifying the identity of personnel, the requirement for manual signatures has become obsolete in light of technological advances in the authentication of electronic signatures.

The MSRB proposed to amend MSRB Rule A-13 to temporarily lower the MSRB's underwriting, transaction and technology fees on assessable activities that occur between April 1, 2019 and September 30, 2019. According to the MSRB, the balance of fees across regulated entities is currently not "fair and equitable." Through the proposal, the MSRB seeks to find the proper balance in fee assessments to ensure fiscal sustainability. The MSRB submitted the proposal for immediate effectiveness.

ISDA, FIA and the Institute of International Finance (collectively, the "Associations") provided an "incentives analysis" concerning central counterparty ("CCP") resolution issues raised by the Financial Stability Board ("FSB") in a discussion paper. The FSB discussion paper lays out considerations for authorities with regard to whether existing financial resources and tools are sufficient to implement the resolution strategy for CCPs. The analysis outlines incentives for CCPs, clearing members and their clients with respect to various tools and processes relating to CCP recovery and

The Basel Committee on Banking Supervision ("BCBS") issued recommendations to address banking risks associated with crypto assets. According to the BCBS, as crypto assets are an "immature asset class" with a "high degree of volatility," they raise significant risks for banks, including "liquidity risk; credit risk; market risk; operational risk (including fraud and cyber risks); money laundering and terrorist financing risk; and legal and reputation risks." The BCBS recommends that banks take the following steps to address these risks: perform appropriate due diligence to assess risks prior to

The United States House of Representatives approved a resolution ( H.Res. 206) highlighting several known weaknesses in the global financial sector that may be exploited by criminals and terrorist groups. In particular, the resolution referenced (i) the lack of transparency in the arts and antiquities industry and the recent surge in U.S. markets of Middle Eastern artifacts believed to have been plundered by terrorist organizations such as the Islamic State of Iraq and the Levant (ISIL); (ii) the high number of luxury residential real estate purchasers in U.S. markets whose identities were