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Statement Of CFTC Commissioner Dan M. Berkovitz Regarding The Proposed Amendments For Customer Margin Rules For Security Futures

Date 09/07/2019

I support issuing the joint notice of proposed rulemaking (“Proposal”) with the Securities Exchange Commission (“SEC”) (collectively with the CFTC, “Commissions”) to amend the security futures margin requirements.
CFTC And SEC Invite Public Comment On A Joint Proposal To Align Margin Requirements For Security Futures With Requirements For Similar Financial Products

Date 09/07/2019

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) (together, the Commissions) have approved a joint proposal to align the minimum margin required on security futures with other similar financial products. The proposal would set the minimum margin requirement for security futures at 15 percent of the current market value of each security future.
BISX Lists 7 Investment Funds

Date 09/07/2019

The Bahamas International Securities Exchange (BISX) is pleased to announce that 7 new investment Funds (some with sub-funds) have successfully completed the BISX Mutual Fund Listing Process and have been listed on the Exchange.
US Federal Agencies Adopt Final Rule To Exclude Community Banks From The Volcker Rule

Date 09/07/2019

Five federal financial regulatory agencies announced on Tuesday that they adopted a final rule to exclude community banks from the Volcker Rule, consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act.
CFTC Staff Issues Advisory Clarifying $50 Million Initial Margin Threshold And Documentation Requirements

Date 09/07/2019

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a Staff Advisory noting that CFTC’s uncleared swap margin rules do not require documentation governing the posting, collection and custody of initial margin until the initial margin threshold amount exceeds $50 million. The Advisory is issued in furtherance of the March 2019 statement by the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) concerning initial margin implementation.

US Federal Agencies Simplify Regulatory Capital Rules

Date 09/07/2019

The federal bank regulatory agencies today issued a final rule that reduces regulatory burden by simplifying several requirements in the agencies' regulatory capital rules.
Statement On The Retirement Of Chief Justice Strine, SEC Commissioner Robert J. Jackson Jr., July 9, 2019

Date 09/07/2019

Chief Justice Leo Strine has announced his retirement after two decades of service on Delaware’s courts. He has been an extraordinary jurist and public servant, leading the Nation’s crucial corporate-law jurisdiction with expert judgment and wisdom. More than that, the Chief Justice is an intellectual leader, on the cutting edge of how best to protect the American families who rely upon our companies to build a sustainable future. I have always looked to Leo as a guiding light and leader in understanding how business law best serves ordinary Americans. On behalf of the Nation’s investors, I thank the Chief Justice for his exceptional public service—and look forward to his continued contributions to the development of American corporate law.
Federal Reserve System White Paper Examines The Effects Of Synthetic Identity Payments Fraud

Date 09/07/2019

Synthetic identity payments fraud is a fast-growing but little-understood problem that affects individuals, financial institutions, government agencies, and private industry. The severity of this type of fraud is documented in a new white paper (PDF) released today by the Federal Reserve System.
SEC Announces August 13 Meeting Of Small Business Capital Formation Advisory Committee

Date 09/07/2019

The Securities and Exchange Commission today announced the August 13 meeting of its Small Business Capital Formation Advisory Committee. The meeting will begin at 9:30 a.m. CT, 10:30 a.m. ET, at Creighton University in Omaha, Nebraska, and is open to the public with limited seating availability. The meeting will be webcast live and archived on the committee’s website for later viewing. The agenda for the meeting will be published at a later date.
Stress Testing: A Decade Of Continuity And Change, Federal Reserve Vice Chair For Supervision Randal K. Quarles, At "Stress Testing: A Discussion And Review," A Research Conference Sponsored By The Federal Reserve Bank Of Boston, Boston, Massachusetts

Date 09/07/2019

Thank you Eric, and thank you to everyone at the Boston Fed and throughout the system who have contributed to this conference. This gathering comes a few weeks after the announcement of this year's stress test results, so let me begin by recounting the highlights of those results. They show that our financial system remains resilient and that capital planning by banks continues to improve. The largest and most complex banks were tested against a severe hypothetical recession and retained strong capital levels, well above their minimum requirements. They demonstrated the ability to withstand a severe and lasting economic downturn and still be able to lend to households and businesses. Additionally, most firms are now meeting the high expectations we have set to make sure capital planning takes into account their specific risks and vulnerabilities. This is an improvement from last year. Overall, these results are good news that confirm our financial system is significantly stronger than before the crisis.