On October 13, 2016, the Securities and Exchange Commission adopted rules to implement modern reporting and disclosure requirements for registered investment companies and open‑end funds. Press Release.
requirements
U.S. Commodity Futures Trading Commission and European Commission Announce Common Approach for Transatlantic CCPs
On February 10, the U.S. Commodity Futures Trading Commission (the “CFTC”) and the European Commission announced a common approach relating to requirements for transatlantic central clearing parties (CCPs). The CFTC and the European Commission will work together to adopt (1) an equivalence decision that will allow US CCPs to continue to provide services in the EU whilst complying with CFTC requirements and (2) a determination of comparability that will allow EU CCPs to provide services to US clearing members whilst complying with EU requirements. These next steps will be put into place as soon as practicable.
Fed Proposed Basel III Rules
On June 7, the Fed issued three notices of proposed rulemakings revising: (i) risk-based and leverage capital requirements; (ii) general risk-based capital requirements for determining risk-weighted assets; and (iii) the advanced approaches risk-based capital rule, each of which incorporate certain aspects of Basel III. The proposed rules are to be issued jointly with the FDIC and OCC, which are expected to issue the rules next week. Comments to the proposed rules must be submitted by September 7. Fed Memo. Fed Proposed Rule Risked-based and Leverage Capital Requirements. Fed Proposed Rule Standardized Approach. Fed Proposed Rule Advanced Approaches.