Week InReview |  QOTW: "I'm disappointed in your disappointment." (SEC Chair at Senate hearing)  FSOC to meet Tuesday in executive & open sessions  The  CFTC has a new swaps rule | The SEC has a to do listCarney & Yellen go crypto in  ICYMI Binge Reading Disorder: s exy money photos, reading list for the ultra-rich, insider trading rules

Friday, June 17, 2016
Let's recap
In case you missed it . . .
FSOC meeting Tuesday, Jun 21
Lew & Yellen to attend
(Jun 14) Treasury Secretary Jack Lew will preside over a meeting of the Financial Stability Oversight Council on June 21 at 4:30 p.m. at the Treasury building in Washington, which will include executive and open sessions. The preliminary agenda for the open session includes discussion of council's 2016 annual report. The executive session agenda includes:
  • An update on market developments
  • A discussion of the Fed's proposed rulemakings that would apply to certain insurance companies
  • A discussion of the annual re-evaluation of the designation of a nonbank financial company
(Jun 15) Deputy assistant secretary Patrick Pinschmidt will be replaced at FSOC by Treasury senior adviser Jonah Crane in the coming weeks. WSJ story
Clearinghouses' added reporting role
CFTC adopts new swaps rule
(Jun 14) In an effort to streamline reporting and improve data quality, the CFTC unanimously voted to give derivatives clearinghouses primary responsibility to report the details of cleared swaps transactions. The rule, effective 180 days after it is published, mandates clearinghouses report continuation data (primary economic terms and all valuation data) to swap data repositories for every swap processed. The rule eliminates the need to report to an SDR confirmation data for swaps intended to be cleared at the time of their execution.
'I'm disappointed in your disappointment"
White to Warren at Senate SEC hearing
(Jun 14) During a debate over disclosure to investors, when Sen. Elizabeth Warren (D-Mass.) told SEC Chair Mary Jo White she is "more disappointed than ever" with White's leadership, Chair White shot back  "I'm disappointed in your disappointment." On a more productive note, White told members of the Senate Finance Committee that she has asked staff to recommend proposed rules requiring independent compliance assessments for registered investment adviser, and that her agency
  • is working on re-proposing a measure aimed at barring bets against asset-backed securities by underwriters and securitization participants to root out conflicts of interest that might harm investors
  • is developing a recommendation that the SEC propose new requirements for stress testing by large investment advisers and companies
  • will propose a rule "imminently" on order routing.
Binge reading disorder
Hand-curated, chosen with love
The 23 sexiest stock images of money

Here are the 10 books J.P. Morgan says the ultra-rich should read this summer

How to run a Russian hacking ring

The first rule of insider trading is just don't insider trade, but what's the second rule?

Ego is the enemy: the legend of Genghis Khan