As widely expected, the Volcker Agencies extended relief from the Volcker Rule that was first granted to eligible foreign funds in 2017. The agencies’ action provides that the proprietary trading and covered fund prohibitions of the Volcker Rule do not apply: (1) to a foreign banking entity for activities or investments of a qualifying foreign excluded fund that is controlled by that foreign banking entity or (2) to that qualifying foreign excluded fund.
The Financial Standards Accounting Board (FASB) voted on Wednesday to propose delaying the implementation date of the Current Expected Credit Losses accounting standard (CECL) until 2023, for all companies other than larger SEC filers. The proposal would reduce the number of implementation dates from three to two.
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Implementation timelines for minimum haircuts adjusted.
Friday 19 July 2019 11:15
Friday 19 July 2019 10:46
Friday 19 July 2019 10:42