On December 15, the Securities and Exchange Commission (SEC) proposed a series of potentially far-reaching changes to the regulation of the security-based swap (SBS) markets. Among other changes, the proposed rules would...more
On December 15, 2021, the Securities and Exchange Commission (SEC) proposed a new rule “intended to improve the quality, relevance and timeliness of information related to issuer share repurchases.” Specifically, the new rule...more
The CFTC has adopted a final rule to prohibit the controversial practice of post-trade name give-up for swaps that are executed anonymously through a Swap Execution Facility (SEF) and are intended to be cleared. Although the...more
In the wake of considerable market criticism of prior proposals, the CFTC has proposed a new approach to addressing certain risks of electronic trading. The CFTC has now officially withdrawn, on a 3-2 vote, its controversial...more
On June 18, 2020, the Securities Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) announced the details of an examination initiative specifically focused on LIBOR preparedness. OCIE has...more
As the world responds to COVID-19, we have identified a number of compliance and legal considerations for asset managers. We summarize a select list of these in our note below....more
3/20/2020
/ Asset Management ,
Broker-Dealer ,
Chief Compliance Officers ,
Commodity Pool ,
Commodity Trading Advisors (CTAs) ,
Compliance ,
Coronavirus/COVID-19 ,
Cyber Threats ,
Financial Industry Regulatory Authority (FINRA) ,
Force Majeure Clause ,
Futures ,
Information Security ,
Investment Adviser ,
Investment Companies ,
Liquidity ,
NFA ,
Registered Investment Companies (RICs) ,
Securities and Exchange Commission (SEC) ,
Short Selling ,
Telecommuting ,
Valuation
As a further step towards the implementation of its security-based swap regime, the Securities and Exchange Commission (SEC) has adopted a number of long-awaited capital, margin and segregation requirements for security-based...more
11/14/2019
/ Broker-Dealer ,
Capital Requirements ,
CFTC ,
Dodd-Frank ,
Final Rules ,
Margin Requirements ,
MSBSPs ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Segregation Requirements ,
Swap Dealers
The Securities and Exchange Commission (SEC) continues to take steps toward implementation of its security-based swap (SBS) dealer registration framework. A particular area of concern for market participants has been how the...more
9/4/2019
/ CFTC ,
Cross-Border Transactions ,
Disqualification ,
Financial Regulatory Agencies ,
Financial Regulatory Reform ,
Foreign Financial Accounts ,
Market Participants ,
Registration Requirement ,
Regulatory Agenda ,
Rulemaking Process ,
Rules of Practice ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Security-Based Swaps ,
Swap Dealers ,
Threshold Requirements
A rule proposed by the US Securities and Exchange Commission under the Investment Advisers Act of 1940 would require SEC-registered investment advisers to adopt and implement written business continuity and transition plans...more
Every five years, the US Securities and Exchange Commission is required to adjust for inflation the agency’s dollar-based qualification tests for when an SEC-registered investment adviser can receive compensation based on...more
Every five years, the U.S. Securities and Exchange Commission is required to adjust for inflation the agency’s dollar-based qualification tests for when an SEC-registered investment adviser can receive compensation based on...more
On August 5, 2015, the US Securities and Exchange Commission (“SEC”) took several incremental steps toward completing its regulatory framework for security-based swap dealers and majority security-based swap participants...more
Late last week, a senior SEC lawyer encouraged the private equity and hedge fund communities to consider whether certain practices of private fund managers could subject these firms to SEC registration as broker-dealers....more