Washington Report 360 | October 12, 2018

In this issue....

Key highlights

The CFTC proposed simplified regulations for commodity pool operators and commodity trading advisors.

Financial services legislative and regulatory news

The CFTC proposed to simplify regulations for commodity pool operators (CPOs) and commodity trading advisors (CTAs) by codifying long-standing staff advisories and no-action letter relief; the CFTC also proposed to streamline registration requirements for CPOs that operate in multiple jurisdictions.

The New Jersey Bureau of Securities plans to issue a rule imposing a fiduciary duty on all New Jersey investment professionals.

Financial services policy news

The IMF issued its latest Global Financial Stability Report, which stated that near-term financial stability risks have "increased somewhat" due to pressures in emerging markets and trade tensions.

The Basel Committee published the results of its Basel III monitoring exercise, which found that all banks surveyed continue to meet initial Basel III minimum and target tier 1 capital requirements.

The BIS released a working paper on the effects of prudential regulation, financial development, and financial openness on economic growth.

The FSB published a report that discusses the analysis behind its previously released assessment of the potential implications of crypto-assets for financial stability.

Federal Reserve Vice Chairman for Supervision Randal K. Quarles discussed trends in community banks, including the declining numbers of community banks over the past 20 years and differences between rural and urban community banking markets.

CFTC Commissioner Rostin Behnam discussed the challenges of reference rate reform and the CFTC's role in the reform efforts.

SEC Commissioner Hester Peirce discussed the SEC's efforts in implementing the Title VII framework for the registration and regulation of security-based swap dealers and major security-based swap participants.

SEC Co-Director of Enforcement Steven Peikin discussed the effectiveness of various remedies and relief in the SEC's goals of protecting investors and market integrity.