West Virginia AG opposes SEC approach toward compelling disclosures on ESG. New York State passes LIBOR legislation. ARRC provides supplemental recommendation of hardwired fallback language for business loans. IOSCO highlights importance of going concern disclosure during pandemic. OFAC sanctions two Burmese military holding companies. FINRA warns of heightened risk of ACH "instant funds" abuse.

CFTC issues CPO/CTA no-action relief for interest rate hedging transactions. FINRA updates day trading guidance. SEC adopts form amendments to help registrants comply with Holding Foreign Companies Accountable Act. Federal Reserve Board Governor highlights regulatory approach to climate risk. Effective date set for NFA supervisory framework on outsourcing arrangements.

FinCEN Director describes implementation efforts for 2020 AML Act. FRB Vice Chair warns firms against continued use of LIBOR. ARRC not yet ready to recommend forward-looking SOFR term rate. Treasury Secretary and FRB Chair describe latest efforts on pandemic recovery. U.S. Senate confirms Marty Walsh as Secretary of Labor.

Digital asset company settles CFTC reporting and wash trade violations. Firm settles FINRA charges for private placement filing and supervisory failures. ARRC cites progress toward "definitive endgame" for U.S. Dollar LIBOR. SEC launches ESG web page.

SEC Commissioners Peirce and Roisman challenge ESG focus. FINRA reminds members of ongoing obligations during market volatility. Banking agencies announce expiration of modifications to supplementary leverage ratio. House Financial Services Committee requests diversity data from largest investment firms. SEC charges individual with fraudulent scheme involving the Dark Web. CFPB Policy Statement on prohibited abusive acts now rescinded.

Senate Financial Services Committee considers proposed legislation on "Diversity Data". Senator Toomey proposes framework for ending GSE conservatorship. Firm settles FINRA charges for supervisory violations on the sale of variable annuities. FRB Chair highlights progress toward a more accessible and transparent cross-border payments ecosystem. Individual sentenced for Kingpin Act Sanctions Violations. MSRB seeks comment on regulation of solicitor municipal advisors.

House Financial Services Committee considers reform recommendations after GameStop trading event. U.S. Senate confirms Isabel Guzman as SBA Administrator. CFTC establishes climate risk unit. SEC Commissioner Hester Peirce advocates for clearer guidance on digital assets and custody. SEC Acting Chair Lee recommends better disclosure on ESG in proxy voting. NFA alerts FCMs and IBs to updated FATF AML/CFT Deficiencies List.

CFTC Commissioner Berkovitz calls for limits on oil "Trading-at-Settlement" transactions. CRS considers implications of Supreme Court case on patent judge appointments. FINRA proposes further extension of pilot program on clearly erroneous transactions. CFPB interpretive rule on lending discrimination now in effect. Cadwalader Clients & Friends Memo: Pharmaceutical Mergers: U.S. Antitrust Agencies Join Global Working Group.

SEC Acting Chair requests public comment on ESG disclosure. FINRA seeks comment on margining of extended settlement transactions. Instrumentation manufacturer settles OFAC charges for Iranian sanctions violations. OFAC issues FAQs on certain sanctioned Communist Chinese military companies. FDIC encourages banks to participate in diversity self-assessment. Cadwalader Client & Friends Memo: COVID-19 Update: Governor Cuomo Extends Eviction Protections for Small Businesses That Demonstrate a Financial Hardship.

SEC acting director emphasizes need to both adapt and innovate for effective ESG disclosure. SEC seeks comment on cross trading by registered investment companies. FINRA adopts rules to further restrict "bad boys." FinCEN updates jurisdictions on FATF AML/CFT deficiencies list. FINRA updates filer form for private placement offerings. Firm settles FINRA charges for best execution violations.