Trading and Markets (US) Content

On December 13, the SEC adopted a final rule to mandate central clearing and settlement of certain secondary market transactions in US Treasury securities—cash Treasuries and Treasury repo and reverse repo—in which one of the counterparties is a direct participant of a covered...

On November 27, 2023, the Securities and Exchange Commission (SEC or "Commission"), on a 4-1 vote by seriatim, adopted Rule 192 ("Final Rule") under the Securities Act of 1933 ("Securities Act"), which implements the prohibition under Section 621 of the Dodd-Frank Act on material...

The Office of Information and Regulatory Affairs released the Fall 2023 Unified Agenda of Regulatory and Deregulatory Actions on December 6, 2023. The agenda includes regulatory actions that the Securities and Exchange Commission and Commodity Futures Trading Commission expect to take...

On November 3, the Commodity Futures Trading Commission (CFTC or "Commission"), by seriatim, issued proposed amendments ("Proposal") to its rules governing the safeguarding and investment of funds deposited by customers to margin futures, foreign futures, and cleared swap transactions...

ICI Global has filed comments with the Financial Stability Board (FSB) regarding the Consultation report on Financial Resources and Tools for Central Counterparty Resolution (Consultation). This memorandum summarizes ICI Global's comments.

On October 30, the SEC issued an order granting exemptive relief to Rule 144A fixed income securities from SEC Rule 15c2-11.

On October 13, the Securities and Exchange Commission adopted new Rule 10c-1a ("Final Rule") under the Securities Exchange Act of 1934 ("Exchange Act"), which is intended to increase transparency and efficiency in the securities lending market. We were pleased that the Final Rule was...

On October 10, the SEC adopted final amendments to its rules governing beneficial ownership reporting on Schedules 13D and 13G ("Final Rules"). We are pleased that the Final Rules reflect many of ICI's comments. The Final Rules were approved by the Commission by a 4-1 vote...

A shutdown of the federal government could begin if Congress cannot agree on new appropriations beyond September 30, 2023.

As previously reported, the SEC and the CFTC recently proposed amendments to the rules for covered clearing agencies (CCAs) and derivatives clearing organization (DCOs),1 respectively, related to resiliency, and recovery and wind-down plans (RWPs).2 Yesterday, ICI filed the attached...