The Commodity Futures Trading Commission will consider proposing rules on Wednesday which would require system safeguards and testing for futures and derivatives industry infrastructures such as exchanges, clearinghouses and swap data repositories. At the same meeting, the agency will consider adopting a rule addressing margin on uncleared swaps - those traded directly between banks, manufacturers and other firms that are not settled through a central counterparty. The proposals are expected to include provisions requiring in-house testing of cybersecurity and operational risk measures, with an overall emphasis on information security, physical security and business continuity and disaster recovery. The uncleared margin rule was proposed in 2014. It is expected to mirror, but not copy, a regulation adopted in October by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency .
14 December 2015
Week InAdvance
save the date...
Thursday, Jan 7, 2016
Mortgage Securitization Council Telecon
3 - 3:30 pm ET

Thursday, Jan 14, 2016
Market Practices Council Telecon
11 am - noon ET

Wednesday, Jan 20, 2016
CMBS
3 - 3:30 pm ET

Thursday, Jan 21, 2016
Cyber Security Council Telecon
11am - noon ET

Thursday, Feb 11, 2016
Market Practices Council Telecom
11am - noon ET

Last Wednesday of Every Month
INVESTORS Membership Telecon
4:30 - 5 pm ET
Brief updates from all Council chairs.
All members welcome to listen in.
for details & call-in info...
Matthew Jones
Staff Director
mjones@association.institutionalINVESTORS.org
(202) 712-9050
week in brief
Tuesday, Dec 15
FOMC begins two-day meeting on interest rates. FDIC board meets to approve next year's budget. EBA meets in London on anti-money laundering guidelines. WTO ministerial conference begins in Nairobi.

Wednesday, Dec 16
CFTC considers a final rule on margin for uncleared swaps and two proposed rules on system safeguards for the divisions of Clearing and Risk and of Market Oversight. FOMC announces rate decision. House Financial Services panel hearing on data collection by the CFPB.

Thursday, Dec 17
FSOC conference call on nonbank financial companies. CFTC to finish key U.S. derivatives collateral rule. Treasury Sec. Lew chairs first-ever summit of the finance ministers of the UN Security Council.

Friday, Dec 18
EBA hearing on cross-border intragroup flows in the context of the liquidity coverage ratio.
Please see below for details on these and other events this week.

at the agencies
Monday, Dec 14
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Closed meeting for review and determination of the advance and discount rates to be charged by the Federal Reserve Banks .

Tuesday, Dec 15
FEDERAL RESERVE SYSTEM
Closed meeting of the Board of Governors to discuss monetary policy issues. Closed meeting of the Federal Open Market Committee (FOMC).

Tuesday, Dec 15
FEDERAL DEPOSIT INSURANCE CORPORATION
Open meeting and live webcast on the "Proposed 2016 FDIC Operating Budget" and securities transfer agent registration.

Wednesday, Dec 16
FEDERAL RESERVE SYSTEM
Federal Open Market Committee (FOMC) announces decision on interest rates. Fed Chair Janet Yellen holds news conference at 2:30 pm ET.

Wednesday, Dec 16
COMMODITY FUTURES TRADING COMMISSION
Open meeting to consider proposing rules to require system safeguards and testing for futures and derivatives industry infrastructures such as exchanges, clearinghouses and swap data repositories. At the same meeting, the agency will consider adopting a rule addressing margin on uncleared swaps-those traded directly between banks, manufacturers and other firms that are not settled through a central counterparty.

Thursday, Dec 17
DEPARTMENT OF THE TREASURY
The Financial Stability Oversight Council will meet via telephone. The preliminary agenda includes a discussion of the annual re-evaluation of the designation of a nonbank financial company.
  
 
on the hill
Wednesday, Dec 16
HOUSE FINANCIAL SERVICES
Subcommittee on Oversight and Investigations hearing on "Examining the Consumer Financial Protection Bureau's Mass Data Collection Program."
across the globe
Monday, Dec 14 -
Tuesday, Dec 15
PARIS, France
OECD's (Organisation for Economic Co-operation and Development) "2015 Green Growth and Sustainable Development Forum."

Tuesday, Dec 15
LONDON, England
European Banking Authority public hearing on anti-money laundering and countering the financing of terrorism guidelines.

Tuesday, Dec 15
MUMBAI, India
ISDA's "Update on Key Global Regulatory Initiatives and Cross-Border Considerations." Topics include EU versus U.S. regulations regarding mandatory clearing requirements, margin requirements, and bank resolution and recovery.

Tuesday, Dec 15 -
Friday, Dec 18
NAIROBI, Kenya
The World Trade Organization's 10th Ministerial Conference. 
More than two dozen WTO countries confirm they won't be sending their top trade officials. 
Without adequate participation from Cabinet-level trade officials, the MC10 meeting could be a bust.

Friday, Dec 18
LONDON, England
European Banking Authority public hearing on draft regulatory technical standards on cross-border intragroup flows in the context of the liquidity coverage ratio.



other events
Tuesday, Dec 15
WASHINGTON DC
DC Bar's "Insider Trading Developments: Securities and Exchange Commission and Department of Justice" event. Speakers include Stephen L. Cohen, associate director of enforcement at the SEC, and Robert Zink, assistant chief of the DOJ criminal division, fraud section, securities.

Tuesday, Dec 15
WASHINGTON DC
ICI "2015 Securities Law Developments Conference." Speakers include David W. Grim, director of the division of investment management at the SEC, and Timothy D. Hauser of the Department of Labor.

Tuesday, Dec 15
WASHINGTON DC
Public Company Accounting Oversight Board open meeting to consider adopting rules and amendments to require audit firms to name participants in an audit.

Wednesday, Dec 16
NEW YORK CITY & VIA WEBCAST
PLI's "Banking Law Institute 2015." Speakers include Charles C. Gray, Jr., counsel at the New York Fed; William D. Haas, deputy comptroller of midsize Bank Supervision at the Office of the Comptroller of the Currency; and Daniel M. Burstein, acting chief of staff, N.Y. Department of Financial Services.

Wednesday, Dec 16
WASHINGTON DC
DC Bar's "Current Developments in FCPA Enforcement by the SEC." Kara Brockmeyer, chief of the Foreign Corrupt Practices Act unit of the Securities and Exchange Commission's enforcement division, is scheduled to speak. 

Friday, Dec 18
WASHINGTON DC
American Enterprise Institute's "The OECD BEPS Report: Should the United States Be Worried?"