US Reg Round Up: 17/07/2023
Federal Reserve
Agencies finalize policy statement on commercial real estate loan accommodations and workouts
29 June 2023
Federal financial institution regulatory agencies today jointly issued a final policy statement on commercial real estate loan accommodations and workouts.
U.S. Securities and Exchange Commission
SEC Proposes Rule Amendments to the Broker-Dealer Customer Protection Rule
12 July 2023
The Securities and Exchange Commission proposed amendments to Rule 15c3-3 (the Customer Protection Rule) to require certain broker-dealers to increase the frequency with which they perform computations of the net cash they owe to customers and other broker-dealers (known as PAB account holders) from weekly to daily. Net cash owed to customers and PAB account holders must be held in a special reserve bank account.
SEC Adopts Money Market Fund Reforms and Amendments to Form PF Reporting Requirements for Large Liquidity Fund Advisers
12 July 2023
The Securities and Exchange Commission today adopted amendments to certain rules that govern money market funds under the Investment Company Act of 1940.
Commodity Futures Trading Commission
CFTC Announces Trade Execution Requirement for Certain SOFR and SONIA OIS
07 July 2023
The Commodity Futures Trading Commission today announced the approval of a made-available-to-trade (MAT) determination submitted by TW SEF LLC for certain U.S. Dollar (USD) Secured Overnight Financing Rate (SOFR) overnight index swaps (OIS) and Pound Sterling (GBP) Sterling Overnight Index Average (SONIA) OIS.
U.S. Department of the Treasury
Treasury Releases Assessment of Small Insurer Competitiveness in the Terrorism Risk Insurance Marketplace
30 June 2023
The U.S. Department of the Treasury’s Federal Insurance Office (FIO) has released its 2023 “Study of Small Insurer Competitiveness in the Terrorism Risk Insurance Marketplace.” In addition to providing updates on the role of small insurers in the terrorism insurance marketplace, the Report identifies new insights available from FIO’s expanded cyber insurance data collection, and shares analysis based upon the use of terrorism risk modeling to evaluate potential impacts small insurers under the Terrorism Risk Insurance Program (TRIP).