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Prohibiting Conflicts Of Interest In ABS Securitizations, SEC Commissioner Jaime Lizárraga, Nov. 27, 2023

Date 27/11/2023

Today the Commission adopted a new rule to address harmful conflicts of interest in the asset-backed securities (“ABS”) market. As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”), Congress directed the Commission to issue rules prohibiting those conflicts of interest, which played a significant role in causing the 2008 financial crisis.
Statement On The Final Rule: Prohibition Against Conflicts Of Interest In Certain Securitizations, SEC Commissioner Mark T. Uyeda, Nov. 27, 2023

Date 27/11/2023

Today, the Commission adopted Rule 192 under the Securities Act of 1933 to implement Section 621 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Section 621 is intended to prohibit those involved in the securitization process from profiting from the securities’ failures. While the Commission’s initial 2011 proposal to implement Section 621 largely tracked the text of Section 621, commenters expressed concerns that this approach lacked clarity regarding the scope of prohibited and permitted conduct. When re-proposing Rule 192 earlier this year, the Commission provided greater detail in the rule text, including the types of transactions that constitute “conflicted transactions” prohibited by the rule and defining certain key terms used in the rule. The Commission stated that its re-proposed rule “would provide strong protection against material conflicts of interest while not unnecessarily hindering routine securitization activities that do not give rise to the risks that Section [621] was intended to address.”
Nasdaq Announces Mid-Month Open Short Interest Positions In Nasdaq Stocks As Of Settlement Date November 15, 2023

Date 27/11/2023

At the end of the settlement date of November 15, 2023, short interest in 3,169 Nasdaq Global Market^SM securities totaled 10,924,879,396 shares compared with 10,847,253,689 shares in 3,200 Global Market issues reported for the prior settlement date of October 31, 2023. The mid-November short interest represents 3.06 days compared with 3.15 days for the prior reporting period.
NYSE Group Consolidated Short Interest Report

Date 27/11/2023

NYSE today reported short interest as of the close of business on the settlement date of November 15, 2023.
Federal Reserve Board Announces Annual Indexing Of Reserve Requirement Exemption Amount And Low Reserve Tranche For 2024

Date 27/11/2023

The Federal Reserve Board on Monday announced technical details related to reserve requirements for depository institutions, which will remain zero. The annual adjustment and publication of the reserve requirement exemption amount and low reserve tranche is required by law and does not indicate a change in depository institutions' reserve requirements.

Unsettling End Of An Era: Statement On Adoption Of Rule Prohibiting Conflicts Of Interest In Certain Securitizations, SEC Commissioner Hester M. Peirce, Nov. 27, 2023Money

Date 27/11/2023

Although not covering as many eras as this year’s most watched concert tour, this rulemaking comes close. Like its musical counterpart, a rule that is more than a decade and multiple iterations in the making should be really good. This rule, with its lingering ambiguities and over-breadth, may not be. It certainly is better than what we proposed, but it is also different enough from the proposal that public comment on the new approach is necessary to ensure that we got it right this time. Even a short comment period on the new rule text would have helped to ensure that the rule prohibits securitization participants from betting against securitizations without stopping risk mitigating hedging, market-making, and other ordinary course transactions. As burdensome as it would have been for the Commission and commenters to formally re-engage, the consequences of getting this rule wrong loom large enough to warrant one more round of comment. Accordingly, I dissent.
Statement On Final Rule Prohibiting Conflicts Of Interest In Securitizations, SEC Chair Gary Gensler, Nov. 27, 2023

Date 27/11/2023

Today, the Commission adopted a rule to prohibit certain market participants in the asset-backed securities (ABS) market from taking positions against the products they help bring to market. I am pleased to support this rule as it fulfills Congress’s mandate to address conflicts of interests in the securitization market, a market which was at the center of the 2008 financial crisis.
CFTC Commitments Of Traders Reports Update

Date 27/11/2023

The current reports for the week of November 21, 2023 are now available. Report data is also available in the CFTC Public Reporting Environment (PRE), which allows users to search, filter, customize and download report data.
SEC Adopts Rule To Prohibit Conflicts Of Interest In Certain Securitizations

Date 27/11/2023

The Securities and Exchange Commission today adopted Securities Act Rule 192 to implement Section 27B of the Securities Act of 1933, a provision added by Section 621 of the Dodd-Frank Act. The rule is intended to prevent the sale of asset-backed securities (ABS) that are tainted by material conflicts of interest. It prohibits a securitization participant, for a specified period of time, from engaging, directly or indirectly, in any transaction that would involve or result in any material conflict of interest between the securitization participant and an investor in the relevant ABS. Under new Rule 192, such transactions would be “conflicted transactions.”
Wollemi Launches To Solve Multi-Trillion Dollar Emissions Problem - Wollemi.Io Is A World-First Solution To Measuring And Reporting On Emissions From Land And Agricultural Investments, As Countries And Regions Act To Legislate Disclosures

Date 27/11/2023

Wollemi, a world-first solution to measuring and reporting on financed agricultural and land emissions, launched today following successful pilot programs.