Search Results for keywords:"financial regulations"

The Nasdaq Stock Market filed a proposed rule change with the Securities and Exchange Commission to set stricter initial listing standards for companies primarily operating in countries that restrict information access. This proposal was initially published for public comment in June 2020, and the SEC took various steps to consider its approval or disapproval. However, on February 1, 2021, Nasdaq withdrew the proposed rule change.

In August 2024, Cboe Exchange proposed a rule change to the Securities and Exchange Commission (SEC) to allow the trading of options on an Ethereum-based product called the Fidelity Ethereum Fund. After reviewing the proposal and receiving comments, the SEC extended its review period to ensure ample time for consideration, setting a deadline of May 2, 2025, to make a decision on whether to approve or disapprove the rule change. The proposal had already been adjusted through an amendment to focus only on the Fidelity Ethereum Fund, limiting the scope and setting specific trading rules for the options.

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have jointly updated Form PF, used for confidential reporting by certain investment advisers. These changes correct previous errors and add omitted amendments, ensuring accuracy and consistency. The updates, effective April 11, 2025, do not introduce new regulations but refine existing requirements. The agencies expedited the amendments without seeking public comments due to their non-substantive nature.

The Community Development Financial Institutions Fund (CDFI Fund), part of the U.S. Department of Treasury, has announced the availability of up to $500 million in guarantees for fiscal year 2025 under the CDFI Bond Guarantee Program. This program is designed to help Community Development Financial Institutions (CDFIs) by offering bond guarantees that support lending for economic development projects. Interested parties need to submit their applications by specified deadlines in early 2025. The rules and detailed requirements for the application and qualification processes are explained in the notice, which also includes guidance on compliance with regulations and statutes.

The Securities and Exchange Commission (SEC) is seeking public comments on a proposed amendment to the Joint Self-Regulatory Organization Plan related to Nasdaq-listed securities. This amendment, known as the Fiftieth Amendment, aims to standardize the process for declaring regulatory halts in trading, ensuring that such decisions are made by the primary listing market. The goal is to maintain a fair and orderly market during disruptions, such as system outages or unusual market activity. Interested parties can submit comments until March 22, 2021.

The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to extend the information collection requirements under Rule 606 of Regulation NMS. Rule 606 mandates that broker-dealers disclose certain information about their order routing practices to ensure transparency, particularly regarding stocks and options. The SEC estimates that compliance with this rule involves a significant annual time burden of 183,000 hours and an annual cost burden of $1,300,000 across the industry. The public is invited to comment on this request by February 18, 2025.

The Securities and Exchange Commission (SEC) has implemented new rules for certain broker-dealers to enhance customer protection. These amendments mandate that broker-dealers with more than $500 million in average total credits must compute and deposit reserve requirements daily, rather than weekly, for funds that belong to customers and other broker-dealers. This change aims to better safeguard customer funds and reduce the risk of financial shortfalls if a broker-dealer were to fail. Additionally, broker-dealers performing daily computations are allowed to reduce their aggregate debit items by 2%, instead of the previous 3%, in their reserve calculations.

The Federal Reserve System has made a correction to the definition of "eligible retained income" in its capital rule, which affects how banks calculate limits on capital distributions and bonuses. This change clarifies inconsistencies introduced by the stress capital buffer rule and aligns with definitions set in previous rules from March and October 2020. The corrected rule is effective from January 15, 2021. For more details, contact the legal team at the Federal Reserve using the provided phone numbers.

The Fixed Income Clearing Corporation (FICC) has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend its Clearing Agency Investment Policy. The changes are mainly focused on how FICC handles and invests funds for various types of transactions, ensuring that security and liquidity are prioritized. Key amendments include separating and clearly organizing different types of margin deposits and ensuring that they are held independently, particularly for transactions involving indirect participants. These changes are meant to comply with specific SEC rules and enhance the safeguarding of these investments, with the proposal expected to be implemented by March 31, 2025.

On October 15, 2024, NYSE Arca, Inc. submitted a proposed rule change to the Securities and Exchange Commission (SEC) to introduce a new rule for listing and trading investment interests based on commodities and digital assets, as well as shares of the Grayscale Digital Large Cap Fund LLC. The SEC has decided to extend its review period beyond the initial 45-day window ending on December 19, 2024, to ensure it has adequate time to assess the proposal. The final decision will be announced by February 2, 2025. No comments on the proposal have been received from the public.