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Report From FINRA Board Of Governors Meeting – March 2022 - Board Approves Rulemaking Items And Use Of 2021 Fine Monies - Meets With SEC Chair Gary Gensler
Date 16/03/2022
FINRA’s Board of Governors met on March 9-10 for the first time in 2022. The Board approved three rulemaking items and discussed a variety of topics, including technology initiatives and matters pertaining to regulatory operations.
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Paul Merolla Named 2022 Recipient Of SIFMA’s C&L Society’s Rauschman Award - Award Will Be Presented At The C&L Annual Seminar In Orlando On March 21
Date 16/03/2022
SIFMA today announced Paul Merolla, retired partner at Murphy & McGonigle, P.C. is the 2022 recipient of the SIFMA Compliance & Legal Society’s Alfred Rauschman Award.
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Dave A. Sanchez To Lead SEC Office Of Municipal Securities
Date 16/03/2022
The Securities and Exchange Commission today announced that Dave A. Sanchez will return to the SEC to serve as Director of the Office of Municipal Securities (OMS) effective April 11. Mr. Sanchez most recently advised municipal issuers, broker-dealers and municipal advisors as a Senior Counsel at Norton Rose Fulbright US LLP.
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Cboe Appoints Stephen Berte As President Of BIDS Trading
Date 16/03/2022
Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today announced the appointment of Stephen Berte as President of its BIDS Trading unit, effective April 4, 2022.
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Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The March 15-16 FOMC Meeting
Date 16/03/2022
The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the March 15-16 meeting.
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U.S. Departments Of Treasury And Justice Launch Multilateral Russian Oligarch Task Force - Australia, Canada, The European Commission, Germany, Italy, France, Japan, The UK, And US, Agree To Increased Cooperation To Target Russian Assets
Date 16/03/2022
Secretary of the Treasury Janet L. Yellen and Attorney General Merrick B. Garland today met virtually with representatives from Australia, Canada, Germany, France, Italy, Japan, the United Kingdom, and the European Commission, to launch the Russian Elites, Proxies, and Oligarchs (REPO) multilateral task force. The task force was first announced by leaders on February 26.
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Federal Reserve Issues FOMC Statement
Date 16/03/2022
Indicators of economic activity and employment have continued to strengthen. Job gains have been strong in recent months, and the unemployment rate has declined substantially. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures.
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EBA Calls On Financial Institutions To Ensure Compliance With Sanctions Against Russia Following The Invasion Of Ukraine And To Facilitate Access To Basic Payment Accounts For Refugees
Date 16/03/2022
The European Banking Authority (EBA) strongly condemns the recent developments that are taking a heavy toll on the Ukrainian state, society, and economy. Following the invasion of Ukraine, the Council of the EU has adopted restrictive measures against Russia and Belarus which require actions from the financial sector. The EBA is working with relevant authorities to ensure proper implementation by all financial institutions of these restrictive measures. As part of this, the EBA will collect and filter queries related to the scope of the restrictive measures as they apply to banks, and channel them to the EU Commission who will answer them. The EBA will continue to closely monitor and assess the situation to inform decisions and actions needed to mitigate short- and medium-term risks and stands ready to act under its competences.
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ISDA And AFME Respond To ESMA Call For Evidence On ESG Ratings
Date 16/03/2022
On March 11, 2022, ISDA and the Association for Financial Markets in Europe submitted a joint response on the European Securities and Markets Authority’s (ESMA) call for evidence on environmental, social and governance (ESG) ratings. The associations highlight the importance of avoiding a fragmented approach to regulatory requirements on ESG ratings, noting a report by the International Organization of Securities Commissions on ESG ratings and data product providers should serve as a common baseline on the international level. In the response, the associations highlight that shortcomings on transparency of methodologies and data sources remains a key concern for users of ESG ratings, while regulatory requirements on ESG ratings should not cover ESG products, such as ESG index products.
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BIS Papers No 122: The Monetary-Fiscal Policy Nexus In The Wake Of The Pandemic
Date 16/03/2022
The Covid-19 pandemic casts the interaction between fiscal and monetary policy in a new light. The sudden and sizeable pandemic-induced recession has made greater demands on both fiscal and monetary policy, triggering the need for closer domestic policy co-ordination, and has led to a greater use of central bank balance sheets. The near-term macroeconomic challenges will likely persist, with growth expected to remain subdued even if the inflation outlook is more diverse across jurisdictions.
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