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Coronavirus And The SIMM: ISDA Chief Executive Officer Scott O'Malia Offers Informal Comments On Important OTC Derivatives Issues In derivatiViews, Reflecting ISDA's Long-Held Commitment To Making The Market Safer And More Efficient.

Date 08/04/2020

Recent market volatility on the back of the coronavirus pandemic has raised some questions about the performance of the ISDA Standard Initial Margin Model (SIMM). We thought it would be helpful to set out some information on how the model has been designed, and how the governance framework for monitoring performance works.

CFTC Swaps Report Update

Date 08/04/2020

CFTC's Weekly Swaps Report has been updated, and is now available.

FINRA Statement On SEC’s OCIE Risk Alerts For Reg BI And Form CRS

Date 08/04/2020

On April 7, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released Risk Alerts for Reg BI and Form CRS.  These Risk Alerts set forth OCIE’s expectations for firms’ compliance with Reg BI and Form CRS and provide broker-dealers with information about the scope and content of OCIE’s initial examinations following the compliance date of June 30, 2020.  FINRA will take the same approach as set forth in the SEC Risk Alerts when FINRA examines broker-dealers and their associated persons for compliance with Reg BI and Form CRS.  This initial approach will focus primarily on assessing whether firms have made a good faith effort to establish and implement policies and procedures reasonably designed to comply with Reg BI and Form CRS.  However, as always, FINRA will take action in the event FINRA observes indications of customer harm or conduct that would have violated current standards (e.g., suitability).

ESMA Is Closed For The Easter Holidays

Date 08/04/2020

The European Securities and Markets Authority (ESMA) is closed for the Easter holidays from Wednesday 8 April and reopens on Tuesday 14 April.

Minutes Of The Federal Open Market Committee, March 15, 2020

Date 08/04/2020

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 15, 2020, and of the conference call held on March 2, 2020.

Overstock Granted DTC Eligibility For Digital Voting Series A-1 Preferred Stock

Date 08/04/2020

Moscow Exchange: Risk Parameters Change On Securities Market: Update

Date 08/04/2020

CCP NCC sets the following risk parameters on Securities market starting from April 15, 2020:

Invidem Partners With Encompass And iMeta Technologies To Make KYC Data Handling Easier

Date 08/04/2020

With the goal of making the management of KYC data more efficient and effective, Know-Your-Customer “KYC” company Invidem, owned by leading Nordic banks, has signed long-term agreements with innovative IT solution providers Encompass and iMeta Technologies. Encompass will provide Invidem with highly automated KYC data gathering and iMeta will provide the core Client Lifecycle Management system for management of the KYC information.

EBA Updates Impact Of The Basel III Reforms On EU Banks’ Capital And Compliance With Liquidity Measures

Date 08/04/2020

The European Banking Authority (EBA) published today two Reports, which measure the impact of implementing the final Basel III reforms and monitor the current implementation of liquidity measures in the EU. Being based on June 2019 reporting date, these results do not reflect the economic impact of the coronavirus disease (Covid-19) on participating banks. Overall, the EBA estimates that the Basel III reforms, once fully implemented in 2028 after the additional delay of one year agreed by the Basel Committee, would determine an average increase by 16.1% of EU banks' Tier 1 minimum required capital.  The liquidity coverage ratio (LCR) of EU banks, which was fully implemented in January 2018, stood at around 147% on average in June 2019.

EBRD President Calls For “Collective Responsibility” In Response To Coronavirus

Date 08/04/2020

EBRD President Suma Chakrabarti has called on the international community to join forces to combat the coronavirus pandemic. “We have a collective responsibility,” the EBRD head said at the meeting of the EU Foreign Affairs/Development Council today which he joined via video link.