Cadwalader Cabinet General Counsel
363 episodes - English - Latest episode: over 2 years ago - ★★★ - 1 ratingThe Cadwalader Cabinet General Counsel podcast gives legal and compliance professionals a rundown of emerging developments in financial regulation each business day. To learn more, visit www.cadwalader.com/thecabinet.
Hosted by William Sadd and Cheryl Kuntz, Produced by William Sadd, and Engineered by Scott Teplin.
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Episodes
It’s in the Blood
July 08, 2021 18:05 - 3 minutes - 4.39 MBSEC Commissioner and CFTC Commissioner oppose new regulations on family offices. FINRA updates interpretations on minimum equity requirements for margin accounts. FDIC updates resources for revised brokered deposits regulation. Firm settles FINRA charges for supervisory violations. OCC reorganizes. FinCEN appoints first Chief Digital Currency Advisor.
If You Can’t Say Something Nice
July 06, 2021 20:44 - 3 minutes - 4.99 MBCFPB warns credit reporting agencies on eviction data accuracy. FHFA provides guidance to FHLBanks on use of alternative reference rates. OFAC removes International Criminal Court-Related Sanctions Regulations. NFA Form PQR amendments are now effective.
Beauty is truth, truth beauty
July 06, 2021 14:50 - 4 minutes - 6.33 MBTrue lender rule rescinded. USPTO implements interim Director review process. SEC Commissioner Hester Peirce urges IFRS Foundation not to develop sustainability standards board. FinCEN updates jurisdictions on FATF AML/CFT/CPF deficiencies list. NYDFS issues new ransomware prevention guidance. IOSCO names new Secretary General.
Show Me the Money (Trail)
July 01, 2021 22:17 - 5 minutes - 7.09 MBFinCEN issues AML/CFT national priorities list. Internet broker settles FINRA charges for system failures. HFSC considers impact of increased digital asset use on U.S. financial system. FINRA requests comments on educating new investors. IOSCO recommends sustainability-related practices in asset management. FFIEC issues IT “Architecture, Infrastructure, and Operations” booklet.
Challenge Your Assumptions
June 30, 2021 20:57 - 5 minutes - 7.73 MBElectronic trading platform settles SEC charges for registration failure. CFTC Commissioner Stump calls for re-visitation of swaps rules. House Financial Services Committee considers fair credit reporting legislation. SEC sends Congress report on Office of Investor Advocate FY2021 priorities. CFTC clarifies swap dealer calculation requirements. AICPA seeks feedback on proposed updates to broker-dealer Accounting Guide. SEC appoints new Director of Enforcement.
If It Ain’t Broke, Don’t Fix It
June 29, 2021 20:44 - 5 minutes - 7.44 MBFRB Vice Chair questions the value of developing a U.S. CBDC. SEC Commissioner Lee advocates corporate board oversight of ESG. CFPB amends rules to assist homeowners suffering COVID-19 hardships. Global engineering company settles DOJ and SEC charges for FCPA violations in Brazilian government bribery scheme. Firm settles CFTC swap data reporting charges. FDIC modifies approach for implementing IDI resolution planning rule.
They Have Appoint
June 28, 2021 21:09 - 5 minutes - 7.27 MBSupreme Court holds an APJ’s “unreviewable authority” violates Appointments Clause of Constitution. FRB reports 2021 supervisory stress test results. ISDA updates and consolidates 2021 Interest Rate Derivatives Definitions. Broker-dealer settles FINRA charges for unsuitable UIT rollover recommendations. Firm settles FINRA charges for research disclosure failures. FRB extends Paycheck Protection Program Liquidity Facility. Comment deadline set for FDIC proposed amendments to Real Estate Lendi...
It’s Good to Be King
June 25, 2021 10:43 - 5 minutes - 7.55 MBSupreme Court says President can fire FHFA Director. SEC Chair highlights staff directives on climate risk and human capital. ICO issuer and CEO settle SEC charges for conducting unregistered and fraudulent securities offering. Firm settles NYSE American charges for options trading violations. SEC awards $5.3 million to four whistleblowers. Effective date set for FDIC revised statement of policy on minority depository institutions.
The Known Unknowns
June 23, 2021 20:22 - 3 minutes - 5.51 MBCommissioner Elad Roisman raises questions on “materiality” for an ESG disclosure framework. CFTC staff clarifies requirements for margin model usage. FFIEC updates Bank Secrecy Act / AML Examination Manual. Firm settles FINRA and NYSE Arca charges for short sale violations.
Solicitous as to Solicitors
June 22, 2021 23:53 - 2 minutes - 3.91 MBSIFMA raises concerns on proposed solicitor municipal advisor regulations. OFAC authorizes certain transactions involving the Belarusian KGB. Firm settles FINRA charges for supervisory violations on variable life insurance contracts and mutual funds.
Marginally Interesting
June 21, 2021 18:18 - 2 minutes - 3.05 MBMarket participants consider FINRA TBA/CAT margin proposal. FINRA sets effective date for complete replacement of OATS by Consolidated Audit Trail.
Playing Nice In The Sandbox
June 18, 2021 17:56 - 1 minute - 2.6 MBOFAC issues general licenses to respond to COVID-19 in Syria, Venezuela and Iran. Firm settles FINRA charges for supervisory failures on outside brokerage accounts.
We Have Ways to Make You Talk
June 18, 2021 00:41 - 5 minutes - 7.89 MBState Attorneys General challenge SEC’s authority to mandate climate disclosures. CFPB reinterprets authority to conduct MLA-related examinations. Regulators offer training program to combat financial exploitation of seniors. SEC charges six individuals with insider trading. Broker and founder settle CFTC charges for misappropriating customer information. Firm settles FINRA charges for supervisory failures on quotations in OTC equities. House Financial Services Committee Chair sets up Digita...
Read All About It
June 16, 2021 19:25 - 4 minutes - 6.65 MBCompany settles SEC charges for cybersecurity disclosure controls failures. House FinTech task force considers implications of CBDCs. SEC Commissioner urges greater ESG disclosure. FDIC seeks comment on proposed amendments to real estate lending standards. FDIC issues revised statement of policy on minority depository institutions. Firm settles FINRA charges for MSRB reporting violations involving SHORT system.
Rules Are Made to Be Rewritten
June 16, 2021 11:35 - 4 minutes - 6.01 MBSEC identifies 2021 regulatory priorities. Financial Stability Oversight Council pushes for SOFR. House Judiciary Subcommittee proposes antitrust agenda for digital markets. NYDFS recommends SEC establish climate risk disclosure rules. ISDA issues consultation on fallbacks for LIBOR ICE swap rates. SEC appoints Director of Corporation Finance and General Counsel.
Disappearing Ink
June 14, 2021 22:58 - 2 minutes - 3.97 MBCFTC Agriculture Advisory Subcommittee adopts recommendations on oversight of futures contracts with open interest. SEC and CFTC alert investors to risks of Bitcoin futures. Cadwalader Clients & Friends Memo: DOJ casts the FCPA spotlight on Brazil-related enforcement.
Not What I Agreed
June 12, 2021 00:23 - 4 minutes - 5.95 MBCFTC Commissioner raises regulatory concerns over decentralized finance. SEC Commissioners offer recommendations on best execution and the insider trading rule. NYDFS study finds insurers’ assets are “meaningfully exposed” to climate risks. FINRA proposes amendments to rule on financial exploitation of specified adults. El Salvador adopts Bitcoin as legal tender, IMF raises concerns. Firm settles FINRA charges for best execution and supervisory failures.
How Is a Dollar Like a Dial Telephone?
June 11, 2021 11:47 - 5 minutes - 7.31 MBSenate Subcommittee considers benefits of a central bank digital currency. President Biden expands prohibitions on persons contributing to the destabilization of the Western Balkans. CFTC Acting Chair Rostin Behnam emphasizes necessity of making LIBOR “obsolete.” SEC Chair highlights intersection of finance and technology in equity markets. SEC updates list of “Unregistered Soliciting Entities.” Firm settles FINRA charges for OBA disclosure failures. SEC Chair Gary Gensler appoints executive...
The Lowdown on Shorts
June 09, 2021 22:19 - 3 minutes - 4.84 MBFINRA seeks comment on expansion of short interest reporting requirements. CFTC subcommittee’s recommendation paves way for term SOFR. SEC Chair Gary Gensler solicits nominations for PCAOB seats. Firm settles FINRA charges for OATS and OTCRF reporting failures. Cadwalader Financial Services Group attorneys recognized in Chambers USA 2021.
More to Follow
June 09, 2021 12:32 - 5 minutes - 7.73 MBSEC removes PCAOB member, seeks candidates for all board positions. SEC Chair Gary Gensler directs staff to "freshen up" insider trading rule. SEC charges couple with insider trading.
High Energy for Low Carbon
June 08, 2021 23:23 - 2 minutes - 3.89 MBCFTC Officials Debate Agency's role in transition to low-carbon economy. FRB simplifies interest rate formula for depository institutions. FRB Vice Chair Randal Quarles highlights efforts to promote efficiency. FINRA proposes amendments to continuing education requirements.
On a Scale of 1-100, Considering All the Data, How Do You Rate?
June 05, 2021 00:04 - 3 minutes - 4.3 MBSEC Commissioner Elad Roisman urges consideration of "inevitable costs" of any new ESG disclosure framework. President Biden expands prohibitions on U.S. securities investments in "Chinese Military-Industrial Complex Companies." FINRA highlights changes to FOCUS reporting requirements for SBS dealers. NFA reminds members engaging in virtual currency of ongoing disclosure obligations. SEC names new Acting Director for the Division of Trading and Markets.
A LIBORous Transition
June 03, 2021 23:18 - 2 minutes - 3.18 MBFSB provides updated recommendations for the LIBOR transition. SIFMA highlights importance of financial services to U.S. economy.
Let's Take a Vote
June 03, 2021 20:43 - 3 minutes - 4.31 MBSEC Chair Gary Gensler directs staff to reconsider proxy rule changes; Republican Commissioners dissent. New York Attorney General issues guidance on state securities filing rules. FINRA proposes amendments to filing requirements for quotations of non-exchange-listed securities. Firm settles FINRA charges for trade reporting violations. OFAC extends authorization of specified transactions involving sanctioned Venezuelan entity.
Bad Big Banks Not All Bad?
June 02, 2021 01:08 - 6 minutes - 8.62 MB"Megabank" CEOs update HFSC on current practices, programs and policies. FINRA proposes amendments to FOCUS Report Supplemental Inventory Schedule. SEC charges mutual fund executives with material misrepresentation of investment risks. SEC charges individuals with promoting unregistered digital asset securities. FINRA withdraws proposed amendments to expungement process. FINRA proposes modifications to FINRA/Nasdaq trade reporting facility fees. OFAC issues Burma Sanctions regulations. OFAC ...
Throw Me a Bone Here
May 28, 2021 19:45 - 2 minutes - 4.06 MBSEC and Treasury describe budget pressures. FINRA reports on how it spent collected fines in 2020. DOJ charges individuals involved in Bolivian government bribery scheme.
Credit Where Credit Is Due
May 27, 2021 21:08 - 3 minutes - 5.56 MBHFS Subcommittee considers testimony on credit reporting system. CFTC updates FAQs on Form CPO-PQR. Firm settles NYSE Arca charges for order control supervisory failures. FRB capital rule for insurance depository holding companies coming soon. OCC adopts withdrawal period exception for collective investment funds. Cadwalader Clients & Friends Memo: Securities Litigation Update: First Circuit Endorses Broad View of Extraterritorial Reach of the Federal Securities Laws, Cementing Split with th...
Strength You Can Bank On
May 26, 2021 17:17 - 3 minutes - 5.07 MBFRB Vice Chair Randal Quarles highlights banking system strength in economic recovery. SEC Commissioner Hester Peirce outlines recommendations on capital formation. Firm settles FINRA and NYSE Arca charges for order marking and Reg. SHO locate rule violations.
Next, Is There Really a Santa Claus?
May 25, 2021 20:04 - 4 minutes - 6 MBSEC Commissioner Allison Herren Lee challenges ESG "myths of materiality". SEC Commissioner Allison Herren Lee urges additional protections for retail investors. House Financial Services Committee considers testimony on SPAC reform. FRB Governor Lael Brainard outlines policy considerations on CBDCs. OFAC sanctions Russian Federal State Budgetary Institution Marine Rescue Service. U.S.-UK Financial Regulatory Working Group focuses on bilateral cooperation and sustainable finance. Financial gr...
The Birth of the Cool
May 24, 2021 19:38 - 3 minutes - 5.05 MBPresident Biden issues Executive Order to develop climate-related financial risk strategy. ARRC selects administrator for forward-looking term SOFR. SIFMA cautions SEC on limiting custody of digital asset securities. Deadlines set for FRB extension of PPP exception for bank insiders.
Remember When It Was Green and Had Pictures
May 21, 2021 18:12 - 3 minutes - 4.79 MBFRB Chair highlights potential of central bank digital currencies. ISDA recommends global regulators adopt standard approach to financial reporting. Cadwalader Clients & Friends Memo: Marketplace Lending Update #9: To Thine Own Self Be True? Not Necessarily.
Second Thoughts
May 20, 2021 22:14 - 4 minutes - 6.19 MBOCC to reconsider final rule to "strengthen and modernize" Community Reinvestment Act regulations. Prudential regulators highlight agency challenges. Firm settles FINRA charges for suitability violations on the sale of ETPs. OFAC removes references to Sudan in sanctions regulations. FTC Chair urges Congress to restore agency authority to obtain equitable monetary relief.
Issues with "When Issued"
May 19, 2021 20:20 - 3 minutes - 5.19 MBSIFMA urges FINRA to reconsider extended settlement margin proposal. FDIC seeks comment on digital asset use by banks. Treasury updates report to Congress on Hong Kong Autonomy Act. OCC reports on elevated risks for banks amid improving economic prospects. NASAA approves Model Act for states to establish restitution funds. OFAC extends authorization of securities transactions involving certain Communist Chinese military companies. Cadwalader Clients & Friends Memo: 7-Eleven/Speedway: Bumps o...
The Long Arm of the Law
May 18, 2021 21:41 - 5 minutes - 7.25 MBGlobal indices provider settles SEC charges for disclosure failures. MSRB seeks comment on amendments to dealer notification requirements. SEC to raise qualified client threshold for performance-based fees. Firm settles FINRA charges for OBA violations. GAO recommends CFPB assess impact from fair lending reorganization. OCC names new Deputy Comptroller and Chief Counsel. Comment deadline extended for banking agencies' request for information on AI.
Mind the Gap
May 18, 2021 00:29 - 3 minutes - 4.97 MBSEC Commissioner identifies regulatory areas with "data gaps". FRB extends PPP exception for bank insiders. OFAC amends narcotics-related sanctions regulations.
My Password: gn27&rlwn05md01fm;dEGiam4jLa;
May 14, 2021 21:51 - 1 minute - 1.67 MBFINRA highlights effective practices for protecting customer account information.
It's Like a Coin Toss without the Coin
May 13, 2021 20:52 - 4 minutes - 5.79 MBSEC staff warns of risks associated with investing in the bitcoin futures market. Broker-Dealer settles SEC charges for SAR filing failures. FDIC Chair highlights the importance of regulatory flexibility and innovation. FRB assesses current vulnerabilities to the financial system. Client & Friends Memo: COVID-19 Update: Decision Striking Down CDC Federal Eviction Moratorium Temporarily Stayed.
Title: All of Our Averages Are Above Average
May 12, 2021 21:26 - 2 minutes - 3.17 MBARRC issues guide to published SOFR averages. FDIC reviews 2020 Credit and Market Risks.
Anything Goes
May 11, 2021 20:34 - 2 minutes - 4.03 MBFirm settles FINRA charges for inadequate oversight of credit and trading. Firm settles NYSE charges for sending competing orders on behalf of client. FDIC names Deputy Director for the Office of Innovation. Comment deadline set for FDIC-proposed rule to strengthen enforcement against misuse of FDIC name. Comment deadline set for banking agencies' proposal on tax allocation agreements.
TBA No Longer TBD?
May 11, 2021 00:54 - 4 minutes - 5.95 MBFINRA proposes amendments to covered agency margin requirements. SEC grants first SBSDR registration. ARRC highlights "market indicators" for recommendations on forward-looking SOFR term rate. Firm settles FINRA charges for supervisory failures on variable annuity transactions. NY Attorney General seeks TRO against digital asset trading company. Treasury Secretary appoints OCC Acting Comptroller.
Ready, Fire, Aim
May 08, 2021 00:27 - 3 minutes - 4.53 MBHouse Committee considers bills addressing GameStop and Archegos market events. ISDA publishes new U.S. renewable energy certificate annex. Firm settles FINRA charges for duplicative short-interest position reporting. OFAC issues FAQ on sanctioned Communist Chinese military company. Comment deadline set for SEC universal proxy card proposal.
They Won't Give You the Time of Day
May 06, 2021 22:17 - 2 minutes - 3.32 MBFirm settles NYSE Arca and NYSE American charges for inaccurate order reporting. CFTC grants FBOT registration to MexDer. Cadwalader Clients & Friends Memo: COVID-19 Update: Governor Cuomo Extends Eviction and Foreclosure Moratorium until August 31.
Gotta Check the Tech
May 05, 2021 17:45 - 3 minutes - 5.39 MBFirm settles NYSE American charges for incorrect short order marking. CFTC grants no-action relief to CX Clearinghouse from DCO-related regulations. Public company settles SEC charges for material misstatements. CFPB reports on mortgage forbearance and delinquencies.
Ready Money
May 04, 2021 19:03 - 2 minutes - 4.26 MBFINRA proposes supplemental liquidity schedule. Global payments company settles OFAC charges for multiple sanctions violations. Firm settles FINRA charges for failing to detect unsuitable recommendations. SEC names Chief Economist and Director of DERA.
Title: First, the SEC; Now, FINRA
May 03, 2021 22:05 - 4 minutes - 6.28 MBFINRA proposes applying its rules to security-based swaps. SEC Commissioners offer recommendations to improve access to capital. Eight companies settle SEC charges for late-filing form disclosure violations.
What if I Pay in Dogecoins?
April 30, 2021 16:40 - 4 minutes - 6.05 MBFinCEN reissues geographic targeting order for 12 metropolitan areas. CFTC renews no-action relief for certain DCOs from reporting obligations. FDIC Chair Jelena McWilliams promotes inclusion in the financial system. Cadwalader Partner Dorothy Mehta to address CPO/CTA/Investment Adviser issues at FIA’s Virtual Law & Compliance Division Conference.
Next Day Delivery
April 29, 2021 20:45 - 4 minutes - 5.79 MBSIFMA, ICI and DTCC outline next steps to shorten U.S. settlement cycle. SEC Commissioner Peirce cautions against prescribed ESG metrics. Reverse mortgage lender settles CFPB charges for misleading advertising. CFPB delays compliance date for amended rule on general qualified mortgage definition. SEC Director of enforcement resigns; agency names Acting Director.
GameStop Replay Rewind Redux
April 27, 2021 22:14 - 3 minutes - 5.53 MBTreasury Secretary Yellen welcomes new UK global anti-corruption sanctions regime. CME Group launches proprietary term SOFR reference rates. Council of Institutional Investors provides feedback to SEC on semiannual regulatory agenda. Banking agencies propose rule concerning income tax allocation agreements. Upcoming webinar entitled; “GameStop, Robinhood, and Regulation.”
The Committee Is Sure to Figure It Out
April 26, 2021 20:44 - 5 minutes - 7.21 MBHouse passes bill to establish CFTC-SEC digital assets working group. CFTC staff grants reporting relief for certain binary options. Firm settles FINRA charges for mishandling customer limit orders. Firm settles FINRA charges for flawed cost basis information. Supreme Court: FTC authority does not extend to equitable monetary relief. Cadwalader Clients & Friends Memo: Securities Litigation Update: Southern District of New York Dismisses Putative Securities Class Action Alleging Sale of Unreg...
Objective or Subjective
April 24, 2021 00:16 - 3 minutes - 5.39 MBAttorneys General urge Congress to invalidate OCC "true lender rule." CRS reviews SEC disclosure policy and practice on climate risk. Financial Services Committee passes racial equity, consumer protection and public company disclosure bills. FDIC proposes rule to strengthen enforcement against misuse of FDIC name. NASAA reviews 2020 regulatory actions, project group reports and COVID-19-related challenges. SEC names Director of Enforcement.