The SEC extended, until March 15, 2019, the comment period for its proposed rules and form amendments to improve disclosures for purchasers of variable annuities and variable life insurance contracts. The initial comment period deadline was February 15, 2019. ( See here for previous coverage on the proposed rules and form amendments.)
News & Insights
21958 News Results
The CFTC requested nominations for membership on the Agricultural Advisory Committee, and also invited the submission of topics for discussion at future meetings. Nominations and topics must be submitted by March 1, 2019.
The U.S. Treasury ("Treasury") Department Office of Foreign Assets Control ("OFAC") designated five officials affiliated with "illegitimate former" Venezuelan President Nicolas Maduro, pursuant to Executive Order 13692. According to OFAC, these five individuals "continue to repress democracy and democratic actors in Venezuela and engage in significant corruption and fraud against the people of Venezuela." The individuals include Manuel Salvador Quevedo Fernandez, the "illegitimate President" of Venezuela's state-owned oil company, Petróleos de Venezuela, S.A. Treasury stated that it may
The U.S. Treasury Department Office of Foreign Assets Control ("OFAC") assessed a civil monetary penalty of over $5 million against a Germany-based company for allegedly violating Cuban Assets Control Regulations ("CACR"). Between May 2012 and February 2016, OFAC stated that AppliChem GmbH ("AppliChem") violated the CACR by selling chemical re-agents to Cuba on 304 occasions. The transaction value of the shipments made was over $3 million. The alleged violations took place after AppliChem was acquired by Illinois Tool Works, Inc. ("ITW") in January 2012. Although ITW voluntarily self-disclosed
The SEC proposal to establish "risk mitigation" requirements applicable to security-based swap dealers, including portfolio reconciliation, and compression and swap trading relationship documentation, was published in the Federal Register ( see here for previous coverage). Comments must be received by April 16, 2019.