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  • Federal Reserve Governor Daniel K. Tarullo, At The Brookings Institution, Washington, D.C., November 17, 2015, Thinking Critically About Nonbank Financial Intermediation

    Date 17/11/2015

    The financial crisis highlighted two major vulnerabilities in the U.S. financial system. First was the magnitude of the too-big-to-fail problem. Second was the size and fragility of the so-called shadow banking system and the extent to which shadow banking activities not subject to prudential regulation were integrated with the regulated banking sector. In the intervening years, much has been done to address too-big-to-fail. With regard to shadow banking concerns, the specific forms related to mortgage lending that linked the regulated and unregulated sectors, such as the notorious structured investment vehicles (SIVs), collapsed during the crisis. Changes in capital, accounting, and other regulatory standards make these arrangements very unlikely to reappear. Moreover, the kind of very large nonbank financial firms whose failures deepened the crisis are now subject to consolidated prudential regulation and supervision. So, in a quite direct sense, the answer to the question posed by this conference of whether we are safer than before the crisis is easy to answer in the affirmative.

  • CFTC Divisions Provide Time-Limited No-Action Relief For Certain Affiliated Counterparties

    Date 17/11/2015

    The U.S. Commodity Futures Trading Commission’s (Commission) Divisions of Clearing and Risk (DCR) and Market Oversight (DMO) today each extended previously-issued no-action relief for certain inter-affiliate transactions. DCR is extending no-action relief that was previously provided in No-Action Letter 14-135. DMO is extending no-action relief that was previously provided in No-Action Letter 14-26 and extended by No-Action Letter 14-136.

  • Court Of Queen’s Bench Grants Alberta Securities Commission Appeal On Case Involving Estate Related To Ferdinand Marcos

    Date 17/11/2015

    On November 13, 2015, Alberta Court of Queen’s Bench Justice D.K. Miller granted an appeal filed by the Alberta Securities Commission (ASC) with respect to charges against three Lethbridge-area men

  • CBOE, C2 And CFE Trading Schedule For The Thanksgiving Day Holiday

    Date 17/11/2015

    CBOE Holdings, Inc. (NASDAQ: CBOE) today announced the following trading schedule for Chicago Board Options Exchange (CBOE), C2 Options Exchange (C2) and CBOE Futures Exchange (CFE) in observance of the Thanksgiving Day holiday:

  • US Justice Department Announces Maerki Baumann & Co. AG Reaches Resolution Under Swiss Bank Program

    Date 17/11/2015

    The Department of Justice announced today that Maerki Baumann & Co. AG (Maerki Baumann) reached a resolution under the department’s Swiss Bank Program.  Maerki Baumann will pay a penalty of more than $23 million.