It's been awhile since we drained out a Cabinet playlist. But with the change of seasons, it's time to revisit old terror-tory. Enjoy!
News & Insights
21958 News Results
The Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation proposed an alternative approach for calculating derivative exposures under regulatory capital rules.
The Financial Conduct Authority Cryptoasset Taskforce advised UK authorities to take "strong action" to mitigate the potential tricks associated with cryptoassets, but expressed a positive view overall of the benefits offered by these new technologies. The report is a very positive step from the UK regulators, and a good regulatory start in analyzing and encouraging the right type of DLT activity.
A swap dealer agreed to pay $900,000 to settle National Futures Association ("NFA") charges relating to initial margin for uncleared swaps. The NFA alleged that the firm used insufficient methods to evaluate the risks of its uncleared swaps and failed to appropriately back test, benchmark and verify its margin model. The NFA alleged that the swap dealer (i) neglected to take the necessary steps to meet the initial margin and variation margin collection requirements, (ii) failed to adequately supervise its business activities with respect to margin and model monitoring, and (iii) submitted
FINRA fined a broker-dealer $2.75 million for anti-money laundering ("AML") program and supervisory deficiencies. According to the Letter of Acceptance, Waiver, and Consent, the firm failed to properly investigate certain third-party attempts to gain unauthorized access to its electronic systems, which should have led to the filing of Suspicious Activity Reports. FINRA stated that this failure was largely the result of the firm's use of a "fraud case chart," which provided inaccurate guidance to employees about reporting requirements related to incidents when third parties attempted to