IOSCO mapped existing liquidity management frameworks in 26 member jurisdictions in a report titled "Liquidity Management Tools in Collective Investment Schemes" ("CIS"). The report focused on tools to help managers deal with "exceptional situations" ( e.g., significant redemption pressure). Based on a survey sent to members of IOSCO's "Committee 5," the report outlined various frameworks and policy tools that are currently at the disposal of asset managers, as well as the scope of the funds to which they apply. IOSCO emphasized that the report "provides a useful, jurisdictional level

The OCC, the Board of Governors of the Federal Reserve System and the FDIC (together, the "agencies") announced that they are reviewing regulations in order to identify those that are outdated or unnecessary. The Economic Growth and Regulatory Paperwork Reduction Act of 1996 ("EGRPRA") requires that the agencies review their regulations at least every 10 years. The announcement was part of the fourth and final notice in a series published in the Federal Register. In these notices, the agencies have sought comments on various types of regulations. The final notice focuses on (i) rules of

SEC Commissioner Aguilar addressed concerns that the SEC's initiatives to modernize information-gathering could make it more vulnerable to cyberattacks. In a public statement, Commissioner Aguilar noted that the introduction of technology has allowed the SEC to collect, analyze and leverage data that is necessary for understanding market activity. However, he recognized that the creation of a single repository of structured data also attracts cybercriminals. Despite the challenge of regulating and safeguarding against cyberthreats simultaneously, the SEC must focus on (i) making sure that

The Office of the Comptroller of the Currency ("OCC") solicited comments on a proposed rule to establish guidelines for recovery planning by banks. The guidelines would apply to insured national banks, insured federal savings associations and insured federal branches of foreign banks with average total consolidated assets of $50 billion or more ("covered banks"). The OCC emphasized that due to "recent large-scale operational events, such as destructive cyber attacks," institutions must plan how to address significant stress events before they occur. Highlights of the proposal include the

FINRA proposed Rule 2273 would establish an obligation by a member firm to deliver an educational communication in connection with recruitment practices and account transfers. A registered representative who changes jobs will often contact former customers and encourage them to transfer their assets to the firm that recruited the representative. Proposed Rule 2273 would require that the new firm inform the customer of potential costs that may be incurred. Accordingly, the proposed rule change would require the delivery of an educational communication to customers by the recruiting firm. The