Treasury Bond Rule will be Costly for Clearinghouses

According to Businessweek, the Commodity Futures Trading Commission will be voting today on a new rule that will result in Treasury collateral being subject to a “prearranged and highly reliable funding arrangement.” Should the rule be passed, clearinghouses will be forced to back Treasury bonds with...

SEF registration rule to slow multi-dealer trading.

According to Traders Magazine, SEF registration rules may hinder movement towards multi-dealer platforms by forex traders. The SEF registration rule, instituted by the US’s Commodity Futures Trading Commission requires all multi-dealer platforms to register as swap execution facilities. This may slow the...

US Options Exchange Leaders Close to Reaching Erroneous Trade Rule Agreement

According to The Wall Street Journal, US Options Exchange leaders have stated that they are close to instituting universal rules for erroneous trades. While they mentioned that there are still a few discrepancies between the 12 U.S. options exchanges, exchange leaders stated at the Futures Industry...

MSRB’s plans for Data dissemination has Dealer Groups nervous

According to The Bond Buyer, several dealer groups have spoken to the Municipal Securities Rulemaking Board (MSRB) over data dissemination, warning that disclosing certain information to retail dealers may actually hurt the secondary market. These warnings have sprung from the MSRB reaching out to dealer...

Federal Reserve to Delay Commodity Regulation until Next Year

According to Reuters, it seems unlikely that the Federal Reserve will be detailing their plans on commodity regulation until after next month’s Senate hearing over the rigging of the aluminum market. A final decision on commodity regulation should be expected early next year. After receiving complaints...

CFTC and SEC Working to Strengthen Volcker Rule

According to Bloomberg.com, CFTC Chairman Gary Gensler and Kara Stein of the SEC have expressed concerns that changes need to be made to the Volcker rule. Scheduled to be set in place by the end of the year, Gensler and Stein are worried that a section of the rule, designed to limit banks’ ability to...

Federal Reserve Liquidity Rules Put the Squeeze on Big Banks

According to Business Week, the Federal Reserve liquidity coverage ratio proposal was approved earlier today. The rule, which affects banks with over a quarter of a trillion dollars in assets the most, will take the approved international rules a few steps further. Putting a quantitative liquidity...

Banks contest new leverage limit rule.

According to Bloomberg.com, many of the United States’ largest banks aren’t happy with a recently proposed rule to increase the minimum capital a bank needs to hold against potential losses. Banks are saying the new minimum– 5 percent for holding banks and 6 percent for their actual banking...

Confusion over CFTC’s “US Person” Definition Causes Headaches Overseas

According to the Financial Times, foreign fund managers may begin to minimize their business with the US. Due to the CFTC’s new definition of what constitutes a “US person,” fund managers in Europe and Asia who have a principal base of business within the US will now have to conform to the CFTC’s new...

The SEC CEO Payment-Ratio Rule comes under heavy scrutiny

According to Bloomberglaw.com, the Securities Exchange Commission (SEC) implemented an interesting new rule in September that requires public companies to disclose the ratio of their CEO pay to median worker compensation. And many seem less than pleased about it. With this new rule, all public companies will...
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