Steven Lofchie News Today

Bipartisan letter to Treasury says proposal would damage market liquidity

<p><span>Thank you, Jimmie [Lenz] and Lee [Reiners] for putting together this conference and for inviting me to be part of it. I must begin with my standard disclaimer: the views I represent are my own and do not necessarily represent the views of the Securities and Exchange Commission (“SEC”) or my fellow Commissioners.</span></p>

If you have watched a financial news broadcast from the floor of the New York Stock Exchange (NYSE) recently, you may have noticed something interesting—it is rather quiet these days, and computer and television screens outnumber people. This was not always the case. In the 1970s, the floor of the NYSE was a loud beehive of activity where over 5,000 people met in close contact every day to trade stocks.1 By 1973, more than 80 percent of the dollar volume of exchange-based U.S.

Anchorage Digital Bank and the Provenance Blockchain Foundation have partnered to let banks take a stake in the Provenance blockchain, run nodes of it and receive fees and peace of mind in return.

SEC Office of Investor Education and Advocacy warned investors about the risks associated with accounts that pay interest on crypto. Also, company settled SEC charges for failing to register the offers and sales of retail crypto product.

The SEC proposed amendments to rules governing beneficial ownership reporting under SEA Sections 13(d) ("Reports by Persons Acquiring More Than Five per Centum of Certain Classes of Securities") and 13(g) ("Statement of Equity Security Ownership").

In a Request for Information, the DOL requested public comment on actions to protect retirement savings and pensions from risks associated with changes in climate. There are civil enforcement provisions aimed at assuring that plan funds are protected.

The SEC proposed extensive new regulation of private fund advisers under the Adviser's Act. Also, in testimony before the U.S. Senate Committee on Agriculture, Nutrition and Forestry, CFTC Chair Rostin Behnam reviewed the agency's regulatory oversight of digital assets.

The SEC proposed amendments to agency rules governing beneficial ownership reporting. Also, FINRA covered twenty-one different topics related to a firm's core compliance responsibilities. FINRA added five new topics since last year's report.

The Financial Stability Oversight Council ("FSOC") finalized interpretive guidance on its authority to require the supervision and regulation of certain nonbank financial companies.