Four firms earned over $22 million by lending out retail investors' shares, without sharing profits with the 5 million customers enrolled.

ISDA Committee announces a credit event for Country Garden. Trade Info Warehouse activates Protocol Adherence Message function.

NSCC announces revised haircuts effective 12/4/23 in an effort to focus on combating idiosyncratic risks, setting the stage for MOASS?

NSCC announces revised haircut approval in an effort to focus on combating idiosyncratic risks, setting the stage for MOASS?

Instinet, aware of CAT reporting flaws since 2020, acted only after FINRA concerns. Penalty? Censure and a $3.8 million penalty.

Country Garden's financial turmoil acknowledged by ISDA, triggering TIW's automated processing. Firms can opt-out before the deadline.

Explore this post and more from the Superstonk community

FDIC conducts a closed meeting on resolution matters, raising questions about potential bank failures similar to Heartland Tri-State Bank.

Gary Gensler emphasizes the need for faster trade settlements to reduce risk & enhance liquidity, as U.S. set to transition to T+1 in May 2024.

OCC seeks to fine-tune idiosyncratic margin requirements, seemingly to prevent another 'Sneeze' like in 2021. Comments due by February 15, 2024.

Reuters: FDIC scrutinizing First Republic Bank's leaders for fiduciary breaches, as part of wider probes into bank failures.

Amidst retail headwinds, GameStop's balance sheet strengthens, contributing to a predicted increase in Q4 sales over Q4 2022.

GameStop Rejects Shareholder Claims, Debunks Heat Lamp, and Fully Supports 'Plan' For Shareholders.

OCC seeks to fine-tune idiosyncratic margin requirements, seemingly to prevent margin calls from market volatility like the 'Sneeze' in 2021.

SEC's new rules require clearer policies for U.S. Treasury transactions, aiming to reduce systemic risks and increase trading efficiency.

FDIC’s advisory committee convenes on December 5 to explore the resolution of systemically important financial companies.

The FSC's new measures aim to balance institutional & retail investor interests, crack down on illegal short selling, and increase transparency.

OCC aims to reduce margin requirements in volatile markets, preventing a domino effect of Clearing Member defaults with new rule proposal.

Explore this post and more from the Superstonk community

Potential GME Token abuse called out: "fund management practices prohibited in traditional finance may be present in the crypto-asset space"

SEC Rule 10c-1a mandates detailed disclosures for covered securities loans, enhancing market transparency. Effective 1/2/24.

Over two million SoFi customers were enrolled in a securities lending program without explicit consent, trampling their investment rights.

SEC's 2023 enforcement results: 784 actions leading to nearly $5 billion in financial remedies, with $1 billion for harmed investors.

SEC introduces a comprehensive regime for SBSEF registration and regulation, addressing trade execution and conflict of interest issues.

Senators Brown, Reed, Warren, & Fetterman advocate for a strengthened GSIB surcharge to safeguard the financial system & economy from bailouts.

CFTC's new rules aim to segregate clearing member funds from DCO assets, ensuring safety and proper depository acknowledgment

Alarm bells in banking: Delinquency rates for all types of loans in commercial banks are rising sharply.

Explore this post and more from the Superstonk community

NAPFM, MFA, and AIMA filed a legal challenge against the SEC’s rules on securities lending and short selling, seeking to vacate both regulations.

Citadel Securities could see major margin requirement reductions with the CME/FICC enhancements while further protecting the clearinghouses.

Industry groups NAPFM, AIMA, and MFA sue SEC over rules requiring detailed disclosures of short sale activities and securities loans.

SEC's regulatory framework for SBSEFs includes mandatory clearing, conflict resolution, and stringent reporting to promote market integrity.

FDIC-insured institutions faced $683.9 billion in unrealized losses on securities in Q3 2023, a significant increase from Q2.

The rule defines a "conflicted transaction" as one that involves a short sale of the ABS or the purchase of a credit derivative linked to the ABS

Legislation proposes stricter regulations for ILCs, closing a loophole that allows nonbank firms to operate without traditional bank oversight.

A stay order has been granted against the SEC's Share Repurchase Disclosure Modernization Rule, following a lawsuit by the Chamber of Commerce.

Senator Brown's statement advocates for stronger banking regulations and highlighting the need for systemic accountability from regulators.

Credit Suisse settles SEC charges for more than $10 million, related to providing prohibited underwriting and advising services to mutual funds.

Fed announces the end of BTFP loan issuance on March 11, with interest rate adjustments on new loans to align with current financial conditions.

On December 13, CFTC's open meeting will consider proposed rules for operational resilience in the swap market and protection of member funds.

Citizens Bank in Sac City, Iowa, is closed, with FDIC intervening. Citizens Bank is the fifth U.S. bank to fail in the current year.

Exploring FDIC's decision to retain a 2% DRR for 2024. A closer look at its impact on the Deposit Insurance Fund and overall banking stability.

CFTC's FY 2023 results show 96 enforcement actions totaling over $4.3 billion in penalties.

Explore this post and more from the Superstonk community

S&P Global Market Intelligence finds UBS as the least efficient bank in Europe for Q3 2023, following a bigly $785 million loss.

Despite legal adjustments to exemption amounts, the Federal Reserve maintains zero reserve requirements for depository institutions in 2024.

CFTC addresses swap dealer capital norms, reporting schedules, and public disclosure formats.

JPMorgan Chase & Co. penalized $348.2M by Fed and OCC for insufficient monitoring of trading, highlighting a decade-long oversight failure.

Senator Brown criticizes big banks for risky practices, advocating for banking that benefits society and upholds strong capital buffers.

Hester Peirce at SEC raises concerns over new governance rule, fearing it might compromise clearing agency operations.

Royal Bank of Canada fined $6M for mismanaging internal controls and capitalizing software costs inaccurately from 2008 to 2020.

As of 10/31/23, Bank Term Funding Program had $120B in outstanding advances & $3.132B interest. Banks get a liquidity fairy, 'we' get rate hikes.

After a consent order for trucking loans, Citizens Bank closes. Is this a sign of contagion in the banking sector due to the freight crisis?

CSA's amendments, effective May 27, 2024, aim to transition Canada's equity and debt markets to a T+1 settlement cycle, aligning with the U.S.

FDIC emphasizes capital adequacy and risk management for CRE exposures, advising updated financial practices and strong liquidity sources.

Effective 2/5/2024, the SEC rule aims to prevent conflicts of interest in asset-backed securities sales, with a focus on investor protection.

BTFP usage explodes, credit card debt jumps 17.7%, Korea punishes illegal short selling, GameStop NFT Project update, and much more!