SEC issues warning to broker-dealers on borrowing from fully paid lending programs. SEC sanctions adviser for overcharging management fees. SEC and CFTC seek feedback on portfolio margining. SEC Investment Management Division Director looks to modernize rules for small fund sponsors. NYDFS approves conditional Bitlicense for PayPal. Overview of the ISDA IBOR fallbacks supplement and protocol. Caymans removed from EU blacklist.

Banking agencies discourage interconnectedness of large banks. Bitcoin “mixer” operator penalized by FinCEN for AML violations. Broker-dealer settles FINRA charges for inaccurate expense reporting. CFTC alternative compliance mechanism for non-U.S. DCOs published in Federal Register.

CFTC and Bank of England enter agreement on clearing supervision. FRB Vice Chair for Supervision describes non-bank financial institutions vulnerabilities. FSB provides timeline for firms to transition from LIBOR. FINRA includes customers’ age and health consideration in sanctions guidelines. Multinational holding company settles OFAC charges for Iranian sanctions violations.

SEC Commissioner Peirce urges SEC to reconsider meaning of terms "facility" and "exchange.” FINRA proposes further extension of pilot program on "clearly erroneous transactions.” FDIC promotes investment partnerships with "mission-driven banks.” Broker-dealer and representative settle FINRA charges for inaccurate expense reporting. FRB seeks input on modernizing the Community Reinvestment Act. Delaware Supreme Court reaffirms primacy of market evidence in determining fair value in appraisal proceedings.

An auto financing company settled CFPB charges for "wrongful repossession" practices, Shenzhen issues 10 million digital yuan (or approximately $1.47 million) in a pilot program, and more in today's podcast. 

SEC proposes exemption from broker-dealer registration for small finders. SEC updates regulatory framework for fund of funds arrangements. SEC issues new FAQ on reporting disciplinary history on Form CRS. ISDA sets IBOR fallbacks supplement and protocol launch date. Bank of Japan to conduct "experiments" on central bank digital currency. Bank settles OCC charges for "vendor management control deficiencies.” Firm settles FINRA charges for MSRB reporting violations. SEC expanded definitions of "accredited investor" and "qualified institutional buyer" published in Federal Register.