FINRA revised and redesignated its Interpretations of the SEA Financial and Operating Rules to align with recent SEC amendments.
News & Insights
A broker-dealer / swap dealer settled parallel SEC and CFTC charges for "widespread" recordkeeping failures related to communications on personal devices, personal email and Internet applications.
The SEC proposed three new rules relating to security-based swaps: (1) an anti-fraud rule, (2) a rule to require reporting of large positions in security-based swaps, and (3) a rule prohibiting personnel of an SBS entity from taking any action to improperly interfere with the SBS entity's CCO in the performance of such persons duties.
The SEC adopted changes to the exemptions for certain clearing agencies and broker-dealer/futures commission merchants concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.
At the SIFMA annual meeting, SEC Chair Gary Gensler highlighted potential areas for reform across the Treasury, non-Treasury fixed income, equity and security-based swaps markets.