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  • SIFMA Commends SEC Action To Facilitate A Shorter Settlement Cycle

    Date 28/09/2016

    SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, after the Securities and Exchange Commission (SEC) voted to propose a rule amendment that will help facilitate the industry’s initiative and timeline to achieve a shortened settlement cycle by September 5, 2017:

    “We commend the SEC for its leadership in establishing a regulatory framework that supports a shortened settlement cycle. The SEC’s proactive efforts to update its rule will create the regulatory certainty the industry needs to move forward in its goal of achieving a T+2 settlement cycle by September 5, 2017. Shortening the time it takes to settle a trade will bring numerous benefits to investors and the U.S. financial system, including reducing operational risk, enhancing the overall efficiency of U.S. securities markets and aligning the U.S. with other international markets. This is truly a win for investors, the industry and all market participants."

  • SEC Adopts Rules For Enhanced Regulatory Framework For Securities Clearing Agencies

    Date 28/09/2016

    The Securities and Exchange Commission voted today to adopt new rules to establish enhanced standards for the operation and governance of securities clearing agencies that are deemed systemically important or that are involved in complex transactions, such as security-based swaps.  The Commission also voted to propose to apply the enhanced standards established by the new rules to other categories of securities clearing agencies, including all SEC-registered central counterparties.

  • Statement Of CFTC Chairman Timothy Massad On Expanded Interest Rate Swap Clearing Requirement Determination And Final Rulemaking

    Date 28/09/2016

    Central clearing is one of the great innovations of the financial system. Indeed, increasing the use of central clearing for over-the-counter swaps is one of the most important goals of the 2009 G20 Leaders’ agreement and the Dodd-Frank Act.


  • SEC Files Insider Trading Charges Against Peruvian Traders Using Overseas Accounts

    Date 28/09/2016

    The Securities and Exchange Commission today charged two lawyers and a brokerage firm manager in Peru with insider trading prior to the merger of two mining companies.

  • CFTC Expands Interest Rate Swap Clearing Requirement

    Date 28/09/2016

    The U.S. Commodity Futures Trading Commission (Commission) today expanded the existing clearing requirement for interest rate swaps. The Commission voted unanimously to approve an amendment to Commission regulation 50.4(a) that establishes a new clearing requirement determination.