General Counsel
Tw Li

June 10, 2021

How Is a Dollar Like a Dial Telephone?

Senate Subcommittee Considers Benefits of a Central Bank Digital Currency

Steven Lofchie

Commentary by Steven Lofchie

The U.S. Senate Banking Subcommittee on Economic Policy considered testimony on the benefits of issuing a central bank digital currency.

President Biden Expands Prohibitions on Persons Contributing to the Destabilization of the Western Balkans

President Joseph R. Biden expanded the scope of prohibitions contained in a prior Executive Order that blocks the property of persons who threaten stabilization efforts in the Western Balkans.

CFTC Acting Chair Rostin Behnam Emphasizes Necessity of Making LIBOR "Obsolete"

Hunter White

Commentary by Hunter White

In remarks before the Alternative Reference Rates Committee's Symposium on the Secured Overnight Financing Rate, CFTC Acting Chair Rostin Behnam concluded that "a successful transition" from LIBOR "would only be achieved if we move away from LIBOR altogether and adopt a new model that makes it obsolete."

SEC Chair Highlights Intersection of Finance and Technology in Equity Markets

Steven Lofchie

Commentary by Steven Lofchie

At the Global Exchange and FinTech Conference, SEC Chair Gary Gensler described how developments, such as payment for order flow, gamification and best execution in the national best bid and offer, have increased market segmentation and market concentration in the equity markets.

SEC Updates List of "Unregistered Soliciting Entities"

The SEC updated its list of "entities that falsely claim to be registered, licensed, and/or located in the United States in their solicitation of investors."

Firm Settles FINRA Charges for OBA Disclosure Failures

A firm settled FINRA charges for failing to adequately review one of its registered representative's outside business activity disclosures.

Also Covered

Reg. Tracker: June 1 to June 15

Reg. Tracker: June 1 to June 15

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