In this issue....
The SEC announced that a new Consolidated Audit Trail (CAT) reporting schedule is being contemplated for large broker-dealers, noting that the CAT will not be ready to accept broker-dealer data on the previously scheduled November 15, 2018 deadline. The SEC is also seeking input on whether the large trader exemption should be extended beyond its November 15, 2018 expiration date.
The OCC released an Advance Notice of Proposed Rulemaking (ANPR) seeking comment and ideas on ways to modernize the regulations implementing the Community Reinvestment Act (CRA).
The OCC issued guidance to its supervised entities regarding the role of informal or implied expressions of support from foreign governments in determining a borrower’s obligor and facility credit risk ratings.
The Federal Reserve issued an interim final rule to expand the applicability of its small bank holding company policy statement, as required by the EGRRCPA (Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018).
The Senate confirmed Richard Clarida to a four-year term as Vice Chairman of the Federal Reserve, replacing Stanley Fischer, who resigned in 2017.
The North American Securities Administrators Association (NASAA) announced that U.S. state and Canadian provincial securities regulators have more than 200 ongoing investigations of Initial Coin Offerings (ICOs) and cryptocurrency-related investment products, and have taken more than 40 related enforcement actions, as part of "Operation Cryptosweep", which was initiated in May 2018.
The CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) issued conditional, time-limited no-action relief to a banking entity for not counting certain loan-related swaps towards its swap dealer de minimis threshold. CFTC Commissioner Quintez stated the CFTC had recently issued a proposal that would eliminate the need for this action going forward for similarly situated entities.