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Steven Lofchie Commentary by Steven Lofchie

Board of Governors of the Federal Reserve System ("FRB") Governor Jerome H. Powell discussed volatility in the Treasury markets and emerging considerations that would provide greater or more stable liquidity. At the 2015 Roundtable on Treasury Markets and Debt Management, Mr. Powell addressed the October 15, 2014 episode of "sudden, outsized volatility" in the Treasury markets. He pointed out that further episodes could cause more market participants to react in ways that reduce liquidity, and add to pressures for changes in market structure. Mr. Powell explained that his preference would be

The CFTC will discontinue the collection and release of the monthly Index Investment Data ("IID") Report for select commodity index position data. The decision was made because the reports are not being utilized when compared to larger CFTC reporting initiatives. The IID Report is a compilation of commodity index investment position data derived from information requests to swap dealers and various index traders. This data collection predates the enhanced reporting regime implemented by the Dodd-Frank Act. The CFTC began releasing this data in September 2009 on a quarterly basis until June 30

The SEC obtained final judgments against a former immigration attorney, his wife, his former law firm partner and five entities he controlled for conducting an investment scheme to defraud foreign investors seeking to come to the U.S. through the EB-5 Immigrant Investor Program. The SEC alleged that the defendants raised nearly $11.5 million from two dozen investors who sought to participate in the EB-5 program, which provides immigrants an opportunity to apply for U.S. residency by investing in a domestic project to create jobs for U.S. workers. The two attorneys told investors that they

The period for SEC approval was extended on a FINRA proposal to merge its dispute resolution subsidiary, FINRA Dispute Resolution, Inc., into and with its regulatory subsidiary, FINRA Regulation, Inc. In addition, the proposed rule change would also amend the FINRA Regulation By-Laws to increase the total number of directors who could serve on the FINRA Regulation board. January 11, 2016 is designated as the approval deadline for the SEC.

Steven Lofchie Commentary by Steven Lofchie

The U.S. House of Representatives passed the Fed Oversight Reform and Modernization Act of 2015 and other bills affecting financial services. The bills include: H.R. 3189, the Fed Oversight Reform and Modernization Act of 2015, would impose a variety of requirements on the FRB, including the manner in which the FRB sets interest rates, and would impose a requirement that the FRB perform a cost-benefit analysis when it adopts regulations, and, in certain cases, perform a post-implementation analysis of the effect of the regulations; H.R. 1210, the Portfolio Lending and Mortgage Access Act