General Counsel
Tw Li

April 08, 2021

Now Two Things Really Are Certain

Senator Wyden to Introduce Mark-to-Market Bill Later This Year

Senate Finance Committee Chair Ron Wyden (D-OR) intends to introduce a broad "mark-to-market" bill later this year that would require certain taxpayers to pay an annual tax on any unrealized gain on assets.

SEC Moves Forward on UK-, French-Substituted Compliance Determinations

The SEC moved forward on proposed substituted compliance determination for UK- and French-regulated firms that register as security-based swap dealers.

ARRC Commends Signing of New York State LIBOR Legislation

The Alternative Reference Rates Committee commended New York State Governor Andrew Cuomo's signing of legislation meant to reduce potential disputes and market disruption associated with the transition away from LIBOR.

"[T]his legislation will significantly reduce operational and legal risks for many market participants and help them seamlessly transition to the Secured Overnight Financing Rate."

ARRC Chair Tom Wipf

Firm Settles FINRA Charges for Excessive Commissions

Steven Lofchie

Commentary by Steven Lofchie

A firm settled FINRA allegations for charging excessive commissions on certain transactions in equity securities, in violation of FINRA's "5% policy" around markups.

Also Covered

Reg. Tracker: April 1 to April 15

Reg. Tracker: April 1 to April 15

The Cabinet Regulatory Tracker is a list of effective dates, comment deadlines and compliance dates.