SEC & CFTC Await New Chairpersons The Trump administration has named an acting chairman for the SEC — Elad L. Roisman, an SEC commissioner — as the now-former Chairman Walter Joseph “Jay” Clayton III stepped down at the end of December, six months before his slated exit in June 2021. Clayton, a Trump team appointee,… Read More >>
CFTC Extends IM Deadline for Phase 5 Firms
Citing the operational challenges of the COVID-19 pandemic, the CFTC extended the initial margin (IM) deadline for Phase 5 firms from September 2020 to September 2021, but sidestepped moving the IM deadline for Phase 6 firms. Phase 5 firms now have another year to comply with the IM requirements for uncleared swaps under the regulatory… Read More >>
FactSet Launches KYC App for Client Due Diligence
FactSet Combines KYC & RPA for New App FactSet, a provider of financial information and analytical applications, reports the release of FactSet KYC, a cloud-based software-as-a-service (SaaS) application intended to streamline Know Your Customer due diligence. The new app combines KYC robotic process automation (RPA) with FactSet content and public registries, improving the efficiency and… Read More >>
New CFTC Chairman Faces Long To-Do List
Heath P. Tarbert, the Acting Under Secretary for the U.S. Department of the Treasury, has won Senate confirmation to be the next chairman of the CFTC, and will face regulatory concerns ranging from finishing Dodd-Frank reforms to the emergence of instruments based on crypto-currencies during his term, slated to last until April 2024. Following the… Read More >>
CFTC Chairman Giancarlo to Step Down Next Year
J. Christopher Giancarlo will be leaving his post as chairman of the CFTC in April of next year and the Trump White House has nominated a Treasury Department official, Heath P. Tarbert, to be his replacement for a five-year term that will start April 14, 2019. If confirmed by the U.S. Senate, Tarbert, who now… Read More >>
