Search Results for keywords:"Commercial Bank

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Search Results: keywords:"Commercial Bank

  • Type:Notice
    Citation:89 FR 101568
    Reading Time:about 5 minutes

    The National Marine Fisheries Service (NMFS) released details on the 2025 cost recovery fee percentages for the Pacific Coast Groundfish Trawl Rationalization Program. The fee percentages are set for different sectors: 3.0% for the Shorebased Individual Fishing Quota (IFQ) Program, 0.1% for the Catcher/Processor (C/P) Co-op Program, and 3.0% for the Mothership (MS) Co-op Program. The fees are used to recover costs associated with managing and enforcing these fishing programs. Additionally, the average 2025 price for Pacific whiting, used in fee calculations for the C/P Co-op Program, is set at $0.09 per pound.

    Simple Explanation

    The government is telling fishing people how much money they need to pay back because of the fishing rules. For 2025, they need to pay a small part of what they earn, like $0.09 for each pound of a type of fish called Pacific whiting, to help cover the costs of keeping everything fair and safe.

  • Type:Notice
    Citation:86 FR 172
    Reading Time:about 6 minutes

    The Small Business Administration (SBA) is requesting public feedback on its forms used in the Paycheck Protection Program (PPP), particularly Forms 3509 and 3510, which gather information to assess borrowers' declarations of necessity for PPP loans. Comments will assist the SBA in refining these forms and ensuring they are effective and not overly burdensome. Feedback is also sought on the overall necessity, utility, and potential improvements to the information collected. Public comments should be submitted by March 5, 2021, via the provided email address.

    Simple Explanation

    The Small Business Administration (SBA) wants to know what people think about some forms they use to decide if businesses really need help from a special loan program called the Paycheck Protection Program (PPP). They're asking for ideas on how to make these forms better and easier to fill out.

  • Type:Notice
    Citation:86 FR 662
    Reading Time:about 29 minutes

    The Nasdaq Stock Market LLC filed a proposed rule change with the Securities and Exchange Commission (SEC) to amend its Compliance Rule related to the Consolidated Audit Trail (CAT). This proposal seeks to implement an "Allocation Alternative," which changes the reporting requirements for brokers when allocating shares or contracts to client accounts. The changes aim to ease the reporting burden on executing brokers who do not have the necessary data to submit Allocation Reports, ensuring that those with the relevant information, like clearing brokers, take on this task instead. This approach is intended to maintain the regulatory utility of CAT while reducing compliance costs for brokers.

    Simple Explanation

    Nasdaq wants to change a rule so that brokers who don't have enough information don’t need to report certain stock trades. Instead, they want the brokers who have all the details to do the reporting, making the whole process easier and less costly for everyone.

  • Type:Notice
    Citation:86 FR 4132
    Reading Time:about 28 minutes

    The Financial Industry Regulatory Authority, Inc. (FINRA) proposed a rule change to its compliance rules to align with an exemption granted by the Securities and Exchange Commission (SEC). This amendment focuses on allocation reporting requirements related to trading activities. Under the proposed changes, brokers who actually perform allocations will be responsible for reporting these activities to a central repository, rather than brokers who do not have this information. This change aims to reduce the reporting burden on brokers while still providing regulators with necessary information to oversee market trades. The amendment is intended to improve efficiency without imposing additional costs on industry members.

    Simple Explanation

    FINRA wants to make it easier for people who buy and sell stocks to report their actions. Instead of everyone reporting everything, only the people who actually perform these actions have to say what they did. This change will help them avoid doing extra work while still making sure that the rules are followed.

  • Type:Notice
    Citation:86 FR 9092
    Reading Time:about 28 minutes

    The Investors Exchange LLC (IEX) has proposed amendments to its compliance rules related to the National Market System Plan Governing the Consolidated Audit Trail to align with an exemption granted by the Securities and Exchange Commission (SEC). This proposal aims to streamline how allocation reports are submitted, focusing on reporting responsibilities for brokers involved in trade allocations. The changes intend to simplify the process by shifting certain reporting obligations from executing brokers to clearing brokers, especially when brokers do not have enough information to complete allocation reports. This amendment is designed to enhance efficiency and reduce unnecessary burdens on brokers while ensuring regulatory compliance.

    Simple Explanation

    The Investors Exchange is changing some rules to make it easier for certain people, like brokers, to share important information about buying and selling stocks. This makes it less of a hassle for some brokers, so they don’t have to do as much work to report this information.

  • Type:Notice
    Citation:86 FR 164
    Reading Time:about 28 minutes

    The Long-Term Stock Exchange, Inc. (LTSE) submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend the Rule Series 11.600. This amendment aims to align LTSE's compliance rules with a specific exemption granted by the SEC, known as the "Allocation Exemption," which adjusts how allocations and reporting are managed under the National Market System Plan. The proposed changes include defining "Allocation" and "Allocation Report," determining who is responsible for reporting allocations, and specifying what information needs to be reported. Comments from the public are being solicited to evaluate the impact and effectiveness of these proposed changes.

    Simple Explanation

    The Long-Term Stock Exchange wants to change some rules about how they share and report certain stock information to fit better with a special permission from another big group called the SEC. They're asking people to share their thoughts on these changes to see if they work well or not.

  • Type:Notice
    Citation:86 FR 152
    Reading Time:about 28 minutes

    The Securities and Exchange Commission (SEC) announced that MEMX LLC has filed a proposed rule change to align its reporting requirements with a conditional exemption. This exemption affects how certain brokers report trades and allocations to accounts, aiming to improve efficiency and reduce burdens by ensuring that only the brokers with necessary information report allocations. The proposal also includes detailed reporting requirements for different types of accounts and emphasizes that the amendments won't significantly impact competition or investor protection. Public comments on the proposed change are invited until January 25, 2021.

    Simple Explanation

    The document is about a change in rules to make it easier for certain brokers to report their trades by only letting those with the right information do the reporting, helping to save time and work for everyone involved. People can share what they think about this change until January 25, 2021.

  • Type:Notice
    Citation:86 FR 6389
    Reading Time:about 24 minutes

    Nasdaq Phlx LLC has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to allow Floor Brokers to use a system called FBMS remotely. This change would permit them to handle certain types of orders without being physically on the Trading Floor, which is especially helpful when open outcry (public bid sharing) is not available. The proposal aims to give greater flexibility in staffing and operations, so business can continue smoothly, even during situations like Trading Floor closures. The SEC invites public comments on this proposal to ensure it aligns with investor protection and market fairness.

    Simple Explanation

    Nasdaq wants to let some brokers work from home using a special computer system, so they can still do their jobs even if the place they usually work is closed. The SEC is asking people if they like this idea or have any concerns.

  • Type:Rule
    Citation:86 FR 8098
    Reading Time:about 37 minutes

    The Federal Deposit Insurance Corporation (FDIC) has issued a final rule to remove obsolete regulations related to subordinate organizations of State savings associations, which were originally transferred from the Office of Thrift Supervision (OTS) following the Dodd-Frank Act. These regulations, found in 12 CFR part 390, subpart O, were deemed unnecessary because their requirements are largely duplicated by other existing Federal Deposit Insurance Act (FDI Act) provisions. By removing these regulations, the FDIC aims to simplify its rules, making them easier for the public and State savings associations to understand and follow. The changes are set to take effect on March 5, 2021.

    Simple Explanation

    Imagine a school that has a bunch of rules nobody really needs anymore because other important rules already cover what they say. The people in charge decide to erase those unneeded rules, so everything is easier to read and follow. That's what the FDIC did with these old money-organization rules.

  • Type:Notice
    Citation:89 FR 104290
    Reading Time:about 83 minutes

    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.

    Simple Explanation

    The U.S. Treasury has a plan to help communities by giving out promises to pay, called guarantees, worth up to $500 million in 2025, but to get these, groups must follow some tricky rules and fill lots of paperwork.