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Regulatory Developments - FinCEN Finalizes Rule Implementing Beneficial Ownership Reporting Requirements Under the Corporate Transparency Act - On Septembe...
On February 10, 2022, the Securities and Exchange Commission (the "SEC") proposed substantial amendments to the reporting regime for beneficial owners of greater than 5% in public companies.
Under the current recordkeeping requirement for broker-dealers, set forth in SEC Rule 17a-4, broker-dealers may retain records in paper format or electronically.
This report provides a snapshot of the US Executive Branch priorities via daily schedules and the prior day's press releases.
<p><span>The Security-Based Swap (SBS) Transaction Reporting Party Requirements Suggested Operational Practices (SOP) establishes the hierarchy and tie-breaker logic to determine a single reporting counterparty for SEC security-based swap reporting (SBSR). The document leverages the existing reporting party standards published by ISDA for CFTC and Canada, therefore allowing reporting entities to reuse aspects of their existing builds and to accommodate multi-jurisdictional reporting by a single reporting entity.</span></p>