SIFMA opposed a bill that would effectively overturn the Supreme Court's Decision in Kokesh v. SEC, which held that SEC claims for disgorgement were punitive and, therefore, subject to a federal statute of limitations.
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A House Financial Services Subcommittee considered bills to increase the budget, staffing and regulatory authority of the Financial Stability Oversight Council.
At a CFTC Global Markets Advisory Committee meeting, Commissioners considered (i) implementation of margin requirements for uncleared swaps and (ii) the treatment of central counterparties under EU proposed rules.
SEC Commissioner Elad L. Roisman urged financial regulators to consider the benefits of applying certain elements of current oversight of the equity markets to the market for U.S. government securities.
Financial Crimes Enforcement Network Director Kenneth A. Blanco urged financial institutions to help prevent the theft and abuse of personally identifiable information by fraudsters.