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CFTC Approves Proposed Amendments To Regulations Regarding Real-Time Public Reporting And Swap Data Recordkeeping And Reporting Requirements

Date 15/12/2023

The Commodity Futures Trading Commission today announced the approval of a proposed rule to revise CFTC regulations regarding real-time public reporting and swap data recordkeeping and reporting. These proposed measures are part of the agency’s continued efforts towards international data harmonization and to ensure the CFTC continues to receive accurate, complete, and high-quality data on swap transactions.
Statement Of CFTC Commissioner Kristin N. Johnson Regarding Notice Of Proposed Rulemaking Making Amendments To Parts 43 And 45 Swap Data Reporting Technical Specifications

Date 15/12/2023

At its peak at the end of 2007, the notional amount outstanding in the credit default swaps market is estimated to have reached a staggering $61.2 trillion.[1] In 2008, the near collapse of the largely bespoke over-the-counter (OTC) swaps market, most notably the credit default swap market, was a precipitating cause of the global financial crisis,[2] which the U.S. Government Accountability Office estimates resulted in roughly $10 trillion in losses, including large declines in employment and household wealth, reduced tax revenues from lower economic activity, and lost output.[3] An exemption from regulation for OTC swaps trading in bilateral markets obscured massively excessive risk-taking and undermined the integrity of global markets. The lack of reporting requirements for swap transactions left regulators with limited visibility into the OTC swaps market.
Report From FINRA Board Of Governors Meeting – December 2023 - Board Approves Rule Proposals And FINRA’s 2024 Budget, Previews 2024 FINRA Annual Regulatory Oversight Report

Date 15/12/2023

FINRA’s Board of Governors held its fifth and final meeting of the year on December 6-7. During the meeting, the Board approved two rule proposals and FINRA’s 2024 proposed budget, and continued discussions around FINRA’s financials, including expenses and the drawdown of reserves. The Board also appointed new members to the National Adjudicatory Council (NAC) and the Small Firm Advisory Committee (SFAC), and previewed the 2024 FINRA Annual Regulatory Oversight Report.
The EBA Proposes A Voluntary EU Green Loan Label To Help Spur Markets

Date 15/12/2023

The European Banking Authority (EBA) today published its response to the European Commission’s call for advice on green loans and mortgages. The EBA proposes the introduction of a voluntary EU label for green loans based on a common EU definition and the integration of the concept of green mortgage and its key sustainability features in the Mortgage Credit Directive.
The EBA Consults On Draft Technical Standards On Market And Counterparty Credit Risk As Part Of Its Roadmap For The Implementation Of The Banking Package In The EU

Date 15/12/2023

The European Banking Authority (EBA) today launched for consultation amendments to its Regulatory Technical Standards (RTS) on the fundamental review of the trading book (FRTB), and to its RTS on the standardised approach for counterparty credit risk (SA-CCR). Both RTS are part of the roadmap on the Banking Package and aim to align the existing RTS with the Capital Requirements Regulation (CRR3). The consultation runs until 14 March 2024.

SEC Issues Staff Report On Accredited Investor Definition

Date 15/12/2023

The Securities and Exchange Commission today issued a staff report on the accredited investor definition. The Dodd-Frank Wall Street Reform and Consumer Protection Act directs the Commission to review the accredited investor definition as it relates to natural persons every four years to determine whether the definition should be modified or adjusted. The Staff previously reviewed the definition in 2015 and in 2019 (as part of the Concept Release on Harmonization of Securities Offering Exemptions). Staff from the Divisions of Corporation Finance and Economic and Risk Analysis prepared the report in connection with this third review of the definition.
BIS: Foreign Investor Feedback Trading In An Emerging Financial Market

Date 15/12/2023

We study the relationship between the trading behaviour of foreign investors, different types of local investors and returns in foreign exchange, fixed income and equity markets of an emerging market economy (EME). We investigate which strategy best explains foreign investor trading behaviour, whether foreign investors bring unique information to local financial markets, and what impact they have on local asset returns and local investor trading.
BaFin Warns Consumers About The Website eatradingcenter.io

Date 15/12/2023

BaFin warns consumers about the services offered on the website eatradingcenter.io. According to information available to BaFin, the operator is providing financial and investment services on this website without the required authorisation.
Identity Fraud On Telegram Messenger: BaFin Warns Consumers About FXflatforex Signals

Date 15/12/2023

BaFin is currently investigating the unknown operator of the “FXflatforex signals” Telegram channel. The operator uses this channel to offer banking business and financial services without the necessary authorisation. BaFin advises that the channel is not operated by the investment firm FXFlat Bank GmbH. This is a case of identity theft against FXFlat Bank GmbH, which is supervised by BaFin.
Statement Regarding Denial Of Petition For Rulemaking, SEC Commissioner Hester M. Peirce, SEC Commissioner Mark T. Uyeda, Dec. 15, 2023

Date 15/12/2023

The Commission has denied the Petition for Rulemaking filed on behalf of Coinbase Global, Inc. (“Petitioner”) on July 21, 2022. We disagree with the Commission’s decision.