The Consumer Financial Protection Bureau ("CFPB") proposal to rescind the mandatory underwriting provisions of a final rule governing "Payday, Vehicle Title and Certain High-Cost Installment Loans" was published in the Federal Register. The CFPB proposal to delay the compliance date for the mandatory underwriting provisions of the final rule (originally August 19, 2019) until November 19, 2020 was also published in the Federal Register. ( See here for previous coverage of both CFPB proposals.) Comments on the proposal to rescind the mandatory underwriting provisions must be submitted by May 15

The CFTC requested public comment on an exchange rule proposal by ICE Futures U.S., Inc. ("IFUS"), a designated contract market ("DCM"). The proposed amendment to IFUS Rule 4.26 would create a three-millisecond delay, or "speed bump," for incoming orders that otherwise would transact immediately opposite resting or "passive" orders. Under this procedure, the exchange would disable stop orders to allow market participants to modify their orders in response to price change in related markets. The new functionality, which initially will be implemented in the "Gold Daily" and "Silver Daily"

The Federal Reserve Board ("FRB") rule proposal to amend the FRB's company-run stress test and supervisory stress test rules was published in the Federal Register ( see here for previous coverage). Comments on the proposal must be submitted by February 19, 2019.

In a Risk Alert, the SEC Office of Compliance Inspections and Examinations ("OCIE") urged transfer agents to review their policies to ensure that funds and securities are protected. The OCIE said that observations from recent examinations of transfer agents that also serve as paying agents generally fall into two broad categories: (i) the safeguarding of funds and securities and (ii) the "notification to unresponsive payees and policies and procedures for lost securityholder searches." Examples of deficiencies that OCIE staff observed include: the misappropriation of shareholder funds and the

The SEC charged a former senior attorney at Apple with insider trading. In a Complaint filed in the U.S. District Court for the District of New Jersey, the SEC alleged that Gene Daniel Levoff breached his duty of confidentiality to Apple and its shareholders, and exploited his position as a senior attorney and a member of Apple's Disclosure Committee to illegally trade Apple securities prior to quarterly earnings announcements. According to the Complaint, Mr. Levoff traded on the basis of insider information on at least three occasions between 2015 and 2016 and made approximately $382,000 in