US Reg Round Up: 14/03/2024

Federal Reserve 

FED release final rule that updating risk management requirements for FMUs  - 08 March 2024 

The Federal Reserve Board has issued a final rule updating risk management requirements for certain systemically important financial market utilities (FMUs). These updates offer guidance on risk management practices that FMUs must adhere to. FMUs play a crucial role in providing the essential infrastructure to clear and settle payments and other financial transactions, which allows the financial markets to function effectively. 

Securities and Exchange Commission 

SEC plans to implement regulations to standardize climate-related disclosures - 06 March 2024 

The plan is to enhance and standardize climate-related disclosures by public companies and in public offerings. This is following investor demands for more consistent, comparable, and reliable information regarding the financial effects of climate related risks. The disclosures will now require extensive information to be provided to the public on the risks the business faces from climate-related risks.  

SEC is implementing amendments to enhance order execution disclosure - 06 March 2024 

The SEC is updating the disclosures required under Rule 605 of Regulation NMS for order executions in national market system stocks. This rule was created back in 2000 to help the public compare and evaluate execution quality at different market centres, these updates reflect the ever-evolving landscape of equity markets over the past two decades. In response to these changes, the SEC is broadening the scope of entities subject to Rule 605, adding more reporting requirements as well.