The Central Bank of Ireland announced that Qualified Investor Alternative Investment Funds ("QIAIFs") will be permitted to engage in loan originations. The new regulatory framework was incorporated in amendments to the AIF Rule Book and derives from a Consultation Paper, published by the Central Bank in July 2014, in which the Central Bank set out its proposed regulatory regime for loan-originating QIAIFs. The Central Bank also released a document reflecting industry feedback on the Consultation Paper, along with the Central Bank's responses to such feedback. For example, the final rules
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Chairman of the House Agriculture Committee and Representative Frank Lucas (R-OK) and Representative Doug LaMalfa (R-CA) both issued statements in support of the CFTC's vote to exclude utility-operations-related swaps with utility special entities from the de minimis threshold for swaps with special entities. The Final Rule for Utility Swaps is aimed at preserving the ability of natural gas and electricity utilities to enter into swaps transactions to hedge their risks. See : House Ag Committee Press Release (Including Statements). R elated news: CFTC Finalizes Rule on Swaps with Special
The Financial Industry Regulatory Authority ("FINRA") acknowledged the 75th anniversary of the creation of the National Association of Securities Dealers ("NASD"). In 2007, NASD was consolidated into the member regulation, enforcement and arbitration functions of the NYSE to become FINRA. FINRA is the largest independent regulator of securities firms doing business with the public in the United States. See : FINRA Press Release.
FINRA released the first in a five-part series of podcasts about FINRA's new Consolidated Supervision Rules. The first podcast highlights the Primary Supervision Requirement, which includes supervision of correspondence and communication. In the podcast, FINRA explained that the new rules require, among other things, that firms have (i) a supervisory system in place that is "reasonably designed" to achieve compliance with applicable securities laws and regulations and FINRA rules; and (ii) written procedures for a registered principal to review all transactions relating to the firm's
The Municipal Securities Rulemaking Board ("MSRB") released an educational podcast and a report, both of which are intended to emphasize the importance of disclosures to bondholders. The podcast, titled "Providing Disclosure Information to Investors," provides an overview of an issuers' obligation to disclose important financial information to investors through MSRB's EMMA Web site. In the podcast, the MSRB recommended the following four steps that state and local government officials should take in order to ensure continuous disclosure: identify the required disclosures; establish disclosure