The U.S. Court of Appeals ruled that the SEC acted arbitrarily and capriciously when it denied the petition of a broker dealer to abrogate three FINRA arbitration rules as the court found the SEC's denial letter too generic to satisfy the Administrative Procedure Act.
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The SEC approved ICE Clear Credit LLC's amended Operational Risk Management Framework, updating terminology, expanding coverage to Treasury clearing, and formalizing oversight roles for two governance committees.
FINRA amended its rules to extend the operating hours of its Trade Reporting Facilities from 4:00 a.m. - 8:00 p.m. each business day to 9:00 p.m. Sundays through 8:00 p.m. Fridays, excluding holidays.
The FDIC published a draft Form PS-01a, an abridged weekly report for smaller permitted payment stablecoin issuers (PPSIs) with less than $1 billion in total outstanding issuance value and less than $100 million in average daily transaction volume in the prior month.
The CFTC issued a final order terminating the routine reporting requirements of Part 20 ("Large Trader Reporting for Physical Commodity Swaps").