Client Remediation – Running the Program (Part 2 of 3)
In our first blog in this series, Getting Started With Client Remediation (Part 1 of 3), we discussed how to get a client remediation program…
Carl Aridas
Getting Started With Client Remediation (Part 1 of 3)
Your firm has, whether it was an individual or collective organization, violated the first component of the Hippocratic Oath – “first, do no harm” (or…
The Few, the Proud, the Protected — Provisions in SCRA That Financial Institutions Must Be Aware Of
SCRA stands for the Servicemembers Civil Relief Act. The history of the SCRA can be traced back to a Civil War moratorium that protected Union…
Federal Reserve Issues Supervisory Letter on Crypto Activities for Banks
Similar to what the OCC issued in December 2021, in August 2022, the Federal Reserve Board (FRB) issued a Supervisory Letter outlining the steps FRB…
Moving to One Minute TRACE Reporting: A Review of FINRA Proposed Changes to Rule 6730
Background FINRA has been collecting and disseminating fixed income transaction information through TRACE since 2002. Fixed income markets have continued to change dramatically since 2002,…
What Is Not Considered a TRACE-Eligible Security and What Should Not Be Reported
A TRACE-eligible security does not include a debt security that is issued by a foreign, sovereign government or a money market instrument. A money market…
What Information Must Be Included in a TRACE Trade Report? (Part 5 of 6)
Because the purpose of TRACE is to help facilitate transparency in the U.S debt market, each TRACE trade report is required to contain the following…
The Architecture of Stablecoins
In a recent speech and interview with the Institute of International Economic Law at Georgetown University, current Acting Comptroller of the Currency Michael J. Hsu…
When and by Whom Should TRACE Transactions Be Reported? (Part 4 of 6)
So far in our 6-part blog series explaining the intricacies of TRACE, we have defined TRACE reporting, detailed the prep work to be done in…