🌊Proposed Flood Hazard Determinations and Business Implications
Comments are requested on proposed flood hazard determinations, which may include additions or modifications of any Base Flood Elevation (BFE), base flood depth, Special Flood Hazard Area (SFHA) boundary or zone designation, or regulatory floodway on the Flood Insurance Rate Maps (FIRMs), and where applicable, in the supporting Flood Insurance Study (FIS) reports for the communities listed in the table below. The purpose of this notice is to seek general information and comment regarding the preliminary FIRM, and where applicable, the FIS report that the Federal Emergency Management Agency (FEMA) has provided to the affected communities. The FIRM and FIS report are the basis of the floodplain management measures that the community is required either to adopt or to show evidence of having in effect in order to qualify or remain qualified for participation in the National Flood Insurance Program (NFIP).
Learn More⚖️ICC Finalizes Changes to Clearing Procedures for Default Management
The SEC approves ICE Clear Credit LLC's proposed rule changes regarding its Clearing Participant Default Management Procedures and ICC Clearing Rules. The updates aim to enhance efficiency by eliminating Direct Liquidation mechanisms and implementing an automated Default Management System for improved default management and position porting processes.
Learn More📊OCC's Proposed Changes to Recovery and Wind-Down Plan
The SEC approved the Options Clearing Corporation's proposed modifications to its Recovery and Wind-Down Plan, incorporating new regulatory compliance measures. These changes ensure clarity in core service continuity and outline staffing roles and interconnections essential for effective operational resilience during recovery or wind-down scenarios.
Learn More📈SEC Approves FLEX Options for iShares Bitcoin Trust ETF
The SEC has approved a proposed rule change by Nasdaq ISE to permit the trading of FLEX equity options on shares of the iShares Bitcoin Trust ETF (IBIT). This change facilitates customized options trading for market participants, enhancing risk management and trading strategies while maintaining compliance with existing position and exercise limits.
Learn More🛡️SEC Regulation S-ID
The Securities and Exchange Commission (SEC) has issued a notice regarding Regulation S-ID, which mandates SEC-regulated entities to implement identity theft prevention programs. The regulation focuses on protecting investors from identity theft risks and details the associated information collection requirements, including policies, training, and reporting obligations for financial institutions and creditors.
Learn More✈️FAA Proposes Protection for Aviation Safety Data from Disclosure
The Federal Aviation Administration (FAA) is proposing to designate safety and security information, reports, data, and work products provided to the FAA from the U.S. Aviation Safety Team (USAST) and its membership as protected from public disclosure. The FAA is authorized to protect voluntarily provided safety and security information from disclosure. This proposed designation is intended to encourage the sharing of information between the FAA and the aviation industry during the discovery of system-level safety issues in the National Airspace System (NAS) and the development and implementation of safety enhancements to address these issues. The voluntarily provided information described in this proposed designation is critical to the FAA's safety mission because it supports a proactive and collaborative, data-driven strategy to reduce the risk of fatal and non-fatal accidents.
Learn More📈MIAX Pearl Introduces Selective Liquidity Auto Purge Feature
MIAX Pearl, LLC proposes a new Selective Liquidity Auto Purge (SLAP) feature to enhance order cancellation functionality in trading. This feature allows Members to group orders and tailor cancellations based on individual risk strategies, thereby improving trading efficacy and risk management in the market environment.
Learn More📈SEC Notice on Information Collection for Financial Risk Management
The SEC is submitting a request for an extension for Rule 18a-3, concerning minimum margin requirements for nonbank security-based swap dealers and participants. The rule stipulates the necessity for establishing risk management control systems, including procedures for monitoring counterparties' risks related to non-cleared security-based swaps. A burden estimate of 1,030 annual hours is outlined for compliance activities.
Learn More📈SEC Proposes Rule Change on OCC's Margin Call Process
The Securities and Exchange Commission has announced a notice regarding the Options Clearing Corporation's proposed updates to its portfolio revaluation process aimed at enhancing management of intraday margin calls. This notice extends the review period for the proposed rule change, allowing the Commission more time to consider its implications for risk exposure management among clearing members.
Learn More📈SEC Approves ICC's Recovery and Wind-Down Plans
The SEC has approved the proposed revisions to the Recovery Plan and Wind-Down Plan of ICE Clear Credit LLC, enhancing compliance with regulatory requirements for clearing agencies. The changes aim to ensure operational resilience and clarity in the event of financial disruptions, updating governance structures and operational protocols.
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