- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-10-16T14:14:00
The Securities and Exchange Commission (SEC) continued its push to get across the finish line the remaining provisions of the Dodd-Frank Act with the adoption of a new rule for institutional investment managers to provide greater transparency regarding short sale data.
The final rule, announced Friday, is designed to increase the public availability of short sale-related data. The reporting requirements will be included in Form SHO filings.
Completing implementation of Dodd-Frank was one of the stated goals of SEC Chair Gary Gensler upon the start of his tenure. The agency has chipped away at the remaining provisions of the 2010 law over the last two years, including rules passed this summer to prohibit the manipulation of chief compliance officers at security-based swaps. Proposals on other areas of the law, including conflicts in securities trading, remain pending.
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The Securities and Exchange Commission moved quickly to adopt an unfulfilled mandate of the Dodd-Frank Act to prevent the sale of certain securities if there is a conflict of interest.
The Securities and Exchange Commission continued its recent run of pushing through remaining regulations under the Dodd-Frank Act of 2010 by adopting new rules to mitigate conflicts of interest for security-based swap clearing agencies.
The Securities and Exchange Commission approved new regulations for security-based swap execution facilities, part of the agency’s steady progress in implementing languishing rules from the Dodd-Frank Act.
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
