close

Blogs > Biz Law Blog

Capital

Jan 11, 2022

Lower the Gates and Raise the Swing: SEC Proposes Amendments to MMF Rules

On Wednesday, Dec. 15, 2021, the U.S. Securities and Exchange Commission (“SEC”), by a 3 – 2 vote, proposed amendments to the rules governing Money Market Funds (“MMF”) intended, in the words of the SEC’s 325-page Proposal, to “improve the resilience and transparency of money market funds.” » Read More

Dec 09, 2021

“Call the Plumber”: Bank for International Settlement AND IOSCO Call for Reforms

On Monday, November 29, 2021, the Committee on Payments and Market Infrastructures (“CPMI”) of the Bank for International Settlements (“BIS”), together with the International Organization of Securities Commissions (“IOSCO”), issued a joint Report on clearing facilities operating around the world, and requesting, by January 24, 2022, comments particularly focusing on client access and “portability.”» Read More

Jun 08, 2021

Fixing FICC: Agency Proposes Rule Changes to Encourage More Repo Clearing

On Tuesday, May 25, 2021, the U. S. Securities and Exchange Commission (“SEC”) issued a notice (the “Notice”) that the Fixed Income Clearing Corporation (“FICC”) had filed proposed rule changes intended to enhance the ability to clear certain trades, particularly those involving repurchase agreements (“Repos”) on FICC.» Read More

May 27, 2021

“Margin, I Have to Have More Margin:” The National Securities Clearing Corporation Proposes to Increase the Minimum Required Fund Deposit

On Monday, May 10, 2021, the U.S. Securities and Exchange Commission (“SEC”) issued a Notice that the National Securities Clearing Corporation (“NSCC”) filed a proposed rule change with the SEC to raise the amount of the Minimum Required Fund Deposit to be made and maintained by member firms using the NSCC.» Read More

May 25, 2021

Data Integrity: The SEC Sanctions S & P Dow Jones Indices LLC

On Monday, May 17, 2021, the U.S. Securities and Exchange Commission (“SEC”) initiated Administrative Proceedings (an enforcement action) against the S & P Dow Jones Indices, LLC (“SPDJI”), in connection with data integrity, for failing to maintain accurate and timely market information used for the S & P 500 VIX Short-Term Futures Index ER (the “Index”).» Read More

May 18, 2021

Raising the Bar: SEC to Propose Increased Thresholds for Performance-Based Fees

On Monday, May 10, 2021, the U.S. Securities and Exchange Commission (“SEC”) issued a Notice of Intent to Issue an Order that “would adjust for inflation dollar amount thresholds in the rule under the Investment Advisers Act of 1940 (the “1940 Act”), which permits investment advisers to charge performance-based fees” to certain clients.» Read More

Feb 23, 2021

‘Bucking the Break’: SEC Requests Comments on MMF Reforms

On Thursday, February 4, 2021, the U. S. Securities and Exchange Commission (“SEC”) issued a Release (No. IC-34188) (the “Release”) entitled “Request for Comment on Potential Money Market Fund Reform Measures in President’s Working Group Report.” The President’s Working Group (“PWG”) had issued its “Report of the President’s Working Group on Financial Markets Overview of Recent Events and Potential Reform Options for Money Market Funds” (“PWG Report”) on December 22, 2020.» Read More