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  • US Federal And State Financial Regulatory Agencies Issue Interagency Statement On Supervisory Practices Regarding Financial Institutions Affected By California Wildfires

    Date 31/08/2021

    The Office of the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of California wildfires on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities.

  • Alberta And Saskatchewan Securities Regulators Adopt New Small Business Financing Prospectus Exemption

    Date 31/08/2021

    The Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) today adopted a new prospectus exemption designed to facilitate greater access to capital for Alberta and Saskatchewan businesses.

  • ISDA Responds To FCA On LIBOR Transition And The DTO

    Date 31/08/2021

    On August 25, 2021, ISDA submitted a response to the Financial Conduct Authority’s (FCA) CP21/22 on LIBOR transition and the derivatives trading obligation (DTO). Currently, the classes of derivatives that are subject to the DTO are swaps referencing US dollar LIBOR, sterling LIBOR, EURIBOR and certain credit default swaps. The FCA is modifying the DTO in light of interest rate benchmark reform and the transition from LIBOR to risk-free rates.

  • SEC Obtains Emergency Relief, Charges Couple Who Operated $18 Million Ponzi Scheme

    Date 31/08/2021

    The Securities and Exchange Commission today announced that it filed an emergency action and obtained a temporary restraining order and an asset freeze to stop an alleged Ponzi scheme perpetrated by Shakopee, Minnesota residents Jason Dodd Bullard and Angela Romero-Bullard and the entity they control, Bullard Enterprises LLC. The SEC also named four relief defendants in the action – entities controlled by Bullard and Romero-Bullard that received investor funds from the alleged scheme.


  • CFTC Staff Amends Existing Brexit-Related Relief To Provide Market Certainty

    Date 31/08/2021

    The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) announced today that it is amending previously granted temporary no-action relief in connection with the withdrawal of the United Kingdom (UK) from the European Union (EU), known as Brexit.