Waive the Red Flag – SEC and CFTC Issue Identity Theft Red Flag Rules On April 10, the Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (“CFTC”) approved a final rule requiring broker-dealers, registered investment companies, investment advisors, and other “financial institutions” and “creditors” regulated by the SEC or CFTC to set up programs to flag and deter identity theft. The new SEC and CFTC rules are... Continue Reading
On April 9, 2013, the Division of Market Oversight of the U.S. Commodity Futures Trading Commission (CFTC) issued a no-action letter delaying the swap reporting compliance deadlines for end users and other swap counterparties that are not swap dealers or major swap participants (non-SD/MSP counterparties).  The relief provided to market participants is effective immediately. The... Continue Reading
It has been several years since the Federal Trade Commission’s Red Flag Rule took effect; and the banking regulators have had the Red Flag Interagency Guidance in place since 2007.   Finally, entities regulated by the Securities and Exchange Commission (SEC), such as broker-dealers and investment advisers, and entities regulated by the Commodity and Futures Trade... Continue Reading