Category: News
CFTC Proposes to Codify Separate Account Relief at FCMs
In a long-awaited move, the CFTC proposes to codify staff relief (No-Action Letter 19-17) to permit FCMs to treat advisers' clients’ separately managed accounts at the FCM as separate accounts for purposes of margin requirements.
March 23, 2023
Tags: CFTC
Senators Discuss Likelihood of Bipartisan Passage of Crypto Legislation
At a Bipartisan Policy Center event on the future of cryptocurrency and blockchain technology, Senators John Hickenlooper (D-Colo.) and Thom Tillis (R-N.C.) expressed a willingness to move forward with bipartisan legislation on cryptocurrency.
March 17, 2023
Tags: FinTech, Blockchain, Congress, Cryptocurrency, Inside the Beltway
Bank Turmoil May Decrease Debt Limit Drama
Treasury Secretary Janet Yellen asserted that the banking system remains sound in the aftermath of Silicon Valley Bank’s collapse, but that failure to raise the debt limit in time would be devastating for banks after the turmoil.
March 17, 2023
Tags: Inside the Beltway
SEC proposes expanding its data privacy rules to require advisers to implement incident response programs and notify clients of unauthorized access or use of sensitive client information; reopens comment period for adviser cybersecurity proposal.
March 16, 2023
Tags: Privacy, Information Security, SEC
FINRA Once Again Postpones Compliance Date for Margin for Covered Agency Transactions
FINRA extends compliance date for Rule 4210, margin requirements for Covered Agency Transactions by six months, to October 25, 2023.
March 10, 2023
IAA’s Barr Supports Adequate SEC Funding, Opposes SRO
Karen Barr, President & CEO of the IAA, supports adequate SEC funding and opposes SRO for advisers at the SEC’s Investor Advisory Committee meeting.
March 09, 2023
Tags: IAC, Mutual Funds, Private Funds, SEC Investor Advocate
SEC Finalizes T+1 Rules, Proposes Massive Custody Rule Changes
The SEC has finalized its rules to shorten the standard settlement cycle for most securities transactions and proposed amendments to the custody rule and related recordkeeping and Form ADV changes.
February 16, 2023
Tags: Custody, Division of Investment Management, Recordkeeping, Securities Settlement Cycle, Trading
House Financial Services Committee Holds Hearing on “Accredited Investor” Definition
The hearing focused on proposals to expand the pool of accredited investors.
February 13, 2023
House Subcommittee Examines Expanding Access to Private Markets
The Subcommittee on Capital Markets held a hearing to discuss expanding access to the private markets, particularly for small businesses.
February 13, 2023
Tags: Capital Markets Subcommittee, House Financial Services
SEC Publishes 2023 Examination Priorities
The SEC’s 2023 examination priorities reflect the agency’s broader focus areas, emphasizing an adviser’s fiduciary duty to act in its clients’ best interest, cybersecurity, ESG, and compliance with the new Marketing Rule.
February 09, 2023
Tags: FinTech, Cybersecurity, ESG, Examinations, Fiduciary, Marketing Rule, Private Funds
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