After announcements by federal housing agencies that would provide forbearance to borrowers as the COVID-19 pandemic lingers, announcements reinforced by the federal stimulus bill passed by Congress, the servicing industry began to examine options to continue funding operations when borrowers no longer are making regular payments. The Mortgage Bankers Association called on the Federal Reserve … Read more
ESMA consults on clearing solutions for Pension Scheme Arrangements under EMIR Thursday 02 April 2020 16:36 The European Securities and Markets Authority (ESMA) has today launched a public consultation on a range of issues regarding potential central clearing solutions for Pension Scheme Arrangements (PSAs) under the European Market Infrastructure Regulation (EMIR). The consultation is based … Read more
ESMA updates its risk assessment in light of the COVID-19 pandemic Thursday 02 April 2020 15:33 The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today updates its risk assessment to account for the impact of the COVID-19 pandemic. The pandemic, in combination with existing valuation risks, has led to large equity … Read more
ESMA publishes 24th extract from its EECS database Thursday 02 April 2020 14:01 The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes the 24th extract from its database of enforcement decisions on financial statements. The extract includes eight decisions taken by European enforcers in the period between May 2018 and … Read more
ESMA publishes 2019 report on enforcement of corporate disclosure Thursday 02 April 2020 10:54 The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes its Annual Report on enforcement and regulatory activities related to corporate reporting within the European Economic Area (EEA).The Report presents the 2019 activities of ESMA and of … Read more
The Mortgage Bankers Association has requested help from the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC) to call on broker-dealers to work with mortgage lenders to prevent a surge of margin calls which could crush liquidity for lenders. “In short, the dramatic price volatility in the market for agency … Read more
Federal Reserve Board announces temporary change to its supplementary leverage ratio rule to ease strains in the Treasury market resulting from the coronavirus and increase banking organizations’ ability to provide credit to households and businesses
More than three years after she left Wells Fargo, and since has been targeted as the executive most responsible for the sales practices which led the bank to record enforcement actions, Carrie Tolstedt reportedly is being eyed for criminal prosecution by the Department of Justice. The woman who has been at the center of blame … Read more
Days before small businesses were allowed to submit requests for the Paycheck Protection Program, a $349 billion loan program administered by the Small Business Administration and authorized by the Coronavirus Aid, Relief, and Economic Security Act, the agency and the Treasury Department released key details of the program.
ESMA advises the European Commission on inducements and costs and charges disclosures Wednesday 01 April 2020 14:14 The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today publishes its advice to the European Commission (EC) on inducements and costs and charges disclosures under MiFID II. In the advice, ESMA encourages the EC … Read more