United States

New York Congresswoman Requests Data on Volcker Rule. Representative Carolyn B. Maloney, Democrat of New York and member of the House Financial Services Committee, is asking regulators to release two years of market data that they have collected in connection with the Volcker Rule. Ms. Maloney noted in the letter that “these quantitative trading metrics can provide important information not only about the efficacy of the Volcker Rule, but also about the general trading activities of U.S. banks, and the degree to which these trading activities have changed over the past two years.” On August 29th, DealBook reported that letter was addressed to the heads of the five agencies responsible for writing the rule: the Federal Reserve, the OCC, the FDIC, the SEC and the CFTC. Ms. Maloney asked for responses by October 30th. (8/29/2016)


CSA publishes update on reduced access to Canadian foreign-currency fixed income offerings. The Canadian Securities Administrators announced publication of CSA Staff Notice 31-346 - Guidance as to the Scope of the International Dealer Exemption in relation to Foreign-Currency Fixed Income Offerings by Canadian Issuers, which addresses concerns raised by Canadian institutional investors over reduced access to international dealers that trade foreign-currency-denominated fixed income securities issued by Canadian issuers. The notice also provides guidance to clarify the scope of the international dealer exemption in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. (9/1/2016)