Gary Gensler, the former chairman of the CFTC, has been nominated to be the next chairman of the SEC by the incoming administration of President-elect Joe Biden. Gensler served as CFTC chairman from May 26, 2009, to January 3, 2014, and oversaw an overhaul and expansion of the regulator’s control over derivatives trading, especially swaps…. Read More >>
OCC Wants Input for Volcker Rule Revamp
The U.S. Department of the Treasury’s Office of the Comptroller of the Currency (OCC) is seeking public input on revisions to the implementation of the Volcker Rule, as section 619 of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 is commonly known. Those revisions are generally in the service of the Trump… Read More >>
Trump Team Challenges SIFI Designation for Non-banks
The Trump Team is signaling that it is taking on aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and a key one, the “systemically important financial institution (SIFI)” designation stemming from Dodd-Frank is under review, according to a recent presidential memorandum to the secretary of the Treasury Department. The Trump team overseeing… Read More >>
SEC Closes Loophole for Security-Based Swaps
The SEC is moving to close a loophole in cross-border, security-based swaps trading that allows firms to sidestep U.S. regulation and facilitates regulatory arbitrage between markets in the U.S and the European Union. In a vote last week, the SEC adopted rules that “require a non-U.S. company that uses personnel located in a U.S. branch… Read More >>
