General Counsel
Tw Li

November 24, 2021

Crypto Clarity

Banking Agencies Offer Roadmap on Crypto-Asset Regulation

Daniel Meade

Commentary by Daniel Meade

The Federal Reserve Board, FDIC and OCC offered a roadmap to clarify the regulation of activities involving crypto-assets.

OCC Clarifies Permitted Bank Cryptocurrency Activities

In an Interpretive Letter, the Office of the Comptroller of the Currency clarified the authority of (i) banks to engage in cryptocurrency activities and (ii) the OCC to charter national trust banks.

ECB Issues Report on Climate and Environmental Risk Management

Daniel Meade

Commentary by Daniel Meade

In a new report, the European Central Bank highlighted "good practices" for climate and environmental risk management in the banking sector.

SEC Staff Grants Australian SBSD Relief from Certain Reporting Requirements

The SEC staff granted no-action relief to an Australian security-based swap dealer from certain financial reporting requirements.

FINRA Proposes TRACE Reporting and Portfolio Trade Rule Amendments

FINRA proposed amendments to rules on transaction reporting that would provide additional transparency into delayed Treasury spot and portfolio trades through the use of "specific modifiers."

Oil Company and Founder Settle SEC Charges for Executive Compensation Disclosure Failures

An oil company and its founder and former CEO settled SEC charges for disclosure failures in connection with the founder's stock pledges and executive perks.

Bad Boy Broker-Dealer Settles FINRA Charges for Failure to Tape Calls

A broker-dealer and its principal settled FINRA charges for negligent misrepresentations, omissions and supervisory failures concerning the offering of promissory notes issued by its parent company.

Broker-Dealer Settles FINRA Charges for Mishandling Customer Limit Orders

A broker-dealer settled FINRA charges for failing to immediately display customer limit orders and for related supervisory violations.

IOSCO Recommends Increased Oversight of ESG Ratings and Data Product Providers

IOSCO offered a set of recommendations addressing ESG ratings and data product providers.

Also Covered

Plenty to Be Thankful For

Plenty to Be Thankful For

From our family to yours, wishing you a happy and safe Thanksgiving!