Amy S. Matsuo
ESG and Regulatory Insights Lead, KPMG LLP
Insight
In this issue....
Key highlights
SEC nominee Elad Roisman has stated that one of his priorities would be to promote investor confidence through a strong enforcement policy that held regulated entities and individuals accountable.
Financial services legislative and regulatory news
FINRA amended its rules to provide a new hearing option for simplified arbitration for parties in arbitration with claims of $50,000 or less, effective September 17, 2018.
The CFTC:.
- Proposed a rule update that would provide exchanges that list security futures products with greater discretion in setting limit levels.
- Proposed to simplify notification requirements for swap dealers and major swap participants regarding the segregation of initial margin for uncleared swaps and the handling of segregated funds.
The SEC proposed to amend the financial disclosure requirements in Regulation S-X applicable to registered debt offerings for guarantors and issuers of guaranteed securities, and affiliates whose securities collateralize a registrant’s securities.
The House of Representatives passed legislation to authorize the National Flood Insurance Program through November 2018; the bill must still be considered by the Senate. The NFIP is currently authorized through July 31, 2018.
Financial services policy news
Fed Vice Chair for Supervision Randal K. Quarles was sworn in for his second term as a member of the Federal Reserve's Board of Governors.
During his nomination hearing, SEC nominee Elad Roisman stated that one of his priorities would be to promote investor confidence through a strong enforcement policy that held regulated entities and individuals accountable.
The FSB published the first in a series of reports evaluating the post-implementation effects of G20 financial regulatory reforms; the consultation report looks at infrastructure finance, focusing on corporate and project debt financing.
The CPMI and IOSCO jointly published an updated assessment of efforts in 28 jurisdictions to implement the Principles for Financial Market Infrastructures (international standards for payment, clearing, and settlement systems).
The Fed has launched a new publication, the Consumer Compliance Supervision Bulletin, highlighting supervisory findings, developing areas of compliance risk, and recent violations.
