As previously advised, on 25 November 2021 the European Commission ("the Commission") adopted four legislative proposals under the auspices of its Capital Markets Union (CMU) action plan. This memo contains a summary of the Commission's proposed reforms.
As previously reported, the Basel Committee on Banking Supervision, the Committee on Payments and Market Infrastructures, and the International Organization of Securities Commissions published a joint consultation ("report").
As discussed previously, in November, the Commodity Futures Trading Commission issued a request for information and comment (RFI) on amending its swap clearing requirements in light of the upcoming cessation of LIBOR and other IBORs.
ICI has filed a comment letter with the Securities and Exchange Commission on proposed rule 10c-1 ("Proposal") under the Securities Exchange Act of 1934, which would require the reporting of securities loans to FINRA.
On Monday, the Investment Company Institute (ICI) filed the attached amicus curiae ("friend of the court") brief to the DC Circuit Court of Appeals in support of the SEC in The Nasdaq Stock Market LLC, et al. v. Securities and Exchange Commission.
On 17 December 2020, ICI Global filed its response to the European Securities and Markets Authority's (ESMA) consultation paper ("CP") on the best execution reports that execution venues and investment firms are required to publish under MiFID II.
Last December, the SEC adopted new Rule 2a-5 under the Investment Company Act, which addresses the fair valuation responsibilities of funds and their boards and advisers, along with a companion recordkeeping rule.
