The banking agencies' extension of the comment period on a proposal permitting certain banking organizations to use an alternative approach for calculating derivative exposures was published in the Federal Register. As previously covered, the comment period deadline was extended from February 15, 2019 to March 18, 2019.
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The MSRB published an investor's guide to help potential 529 savings plans account owners and contributors understand how the plans function and how to make informed investment decisions. A 529 savings plan is a "tax-advantaged qualified tuition program" intended to help investors save for future higher education expenses.
As part of its retrospective rule review, FINRA requested comments on the "effectiveness and efficiency" of a rule regarding business continuity plans and emergency contact information. Comments must be submitted by April 26, 2019.
Pursuant to Executive Order 13692, the U.S. Treasury Department ("Treasury") Office of Foreign Assets Control ("OFAC") designated four Venezuelan Governors for "endemic corruption" and for "blocking the delivery of critical humanitarian aid." OFAC said the Governor's activities were "exacerbating the ongoing humanitarian crisis caused by the illegitimate Maduro regime." As a result of OFAC's action, all property and interests in property of these four officials, and of any entities that are owned 50 percent or more by these individuals that are in the United States or in control of U.S
A former trader agreed to settle CFTC charges for engaging in "spoofing" ( i.e., "bidding or offering with the intent to cancel the bid or offer prior to execution) and manipulative schemes. According to the Order, Krishna Mohan, while an employee at a proprietary trading firm, acted with others to "trick market participants into executing against the orders he wanted filled" at better prices, or in larger quantities, than he otherwise would have obtained. Mr. Mohan entered into a "formal cooperation agreement" with the agency's Division of Enforcement. The CFTC (i) ordered Mr. Mohan to cease