Sunday - July 5, 2020
Federal Regulatory Agencies

News releases, reports, statements and associated documents from federal regulatory agencies ranging from the Securities Exchange Commission to the Commodities Futures Trading Commission

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SEC Announces Agenda, Panelists for Staff Roundtable on Emerging Markets
WASHINGTON, July 3 -- The Securities and Exchange Commission issued the following news release:

The Securities and Exchange Commission announced the agenda and panelists for the July 9, 2020 staff roundtable on investing in emerging markets, including China. Further information, including prior statements and actions in this area, are available here.

The virtual roundtable, announced in May, will be webcast live on starting at 9:30 a.m. ET. Members of the public who wish to provide views on the risks of investing in emerging markets, including China, may submit their views electronically ... Show Full Article

Litigation: SEC Vs. Daniel Dirk Coddington
WASHINGTON, July 3 -- The Securities and Exchange Commission issued the following litigation release (No. 1:13-cv-03363-CMA-KMT; D. Colo. filed December 12, 2013):

On June 29, 2020, the U.S. District Court for the District of Colorado entered final consent judgments against Merlyn Curt Geisler and Marshall D. Gunn, Jr., in connection with their roles in a prime bank scheme orchestrated by Daniel Dirk Coddington. The court also dismissed the SEC's claims against Coddington, who passed away in January 2019, as well as several entities that are now defunct.

The SEC's complaint, filed on December ... Show Full Article

Federal Election Commission Cites Committees for Failure to File 12-Day Pre-Election Financial Reports
WASHINGTON, July 3 -- The Federal Election Commission issued the following news release:

The Federal Election Commission cited three campaign committees for failing to file 12-Day Pre-Election Reports required by the Federal Election Campaign Act of 1971, as amended (the Act), for the Libertarian Party Convention being held on July 6, 2020 in Oregon and primary elections being held on July 7, 2020 in New Jersey.

As of July 2, 2020, the required disclosure report had not been received from:

* Angela Roman for Oregon (OR-5)


* Mark Razzoli for Congress (NJ-12)

The ... Show Full Article

FEC: Nonconnected Committee May Deduct a Fee From Earmarked Contributions
WASHINGTON, July 3 -- The Federal Election Commission issued the following advisory opinions document (No. AO 2019-15):

NORPAC, a nonconnected committee that solicits, processes, and forwards contributions to candidate committees may deduct and retain a flat-rate, fixed percentage fee ("convenience fee") from the earmarked contributions it forwards. The convenience fee constitutes a contribution from the original contributor to NORPAC.


NORPAC plans to solicit and collect earmarked contributions via credit and debit cards as well as personal checks, with contributors identifying the ... Show Full Article

FDIC: FFIEC Joint Statement on Managing the LIBOR Transition
WASHINGTON, July 3 -- The Federal Deposit Insurance Corporation issued the following financial institution letter (No. FIL-68-2020):


The FFIEC has issued a Joint Statement on Managing the LIBOR Transition, which highlights the financial, legal, operational, and consumer protection risks that will result from the expected discontinuation of the London Interbank Offered Rate (LIBOR) for institutions with exposure to the LIBOR reference rate. Institutions with LIBOR exposure should have appropriate risk management processes in place to identify and mitigate transition risks.

The Joint ... Show Full Article

FCC Reaches Settlements to Shut Down Boston-Area Pirate Radio Stations
WASHINGTON, July 3 -- The Federal Communications Commission issued the following news release:

The Federal Communications Commission reached settlements with two Boston-area pirate radio operators, Acerome Jean Charles and Gerlens Cesar, following FCC Enforcement Bureau investigations. Through these Consent Decrees, the two operators will pay monetary penalties, admit to violations of section 301 of the Communications Act, agree to 20-year compliance commitments, and agree to dispose of any remaining broadcast equipment in their possession.

Unauthorized radio broadcast stations--also known as ... Show Full Article

FCC Media Bureau Issues Public Notice on Inflation Adjustment Figures For Cable Operators
WASHINGTON, July 3 -- The Federal Communications Commission's Media Bureau issued the following public notice (MB Docket No. DA 20-68):

This Public Notice is applicable to rate-regulated cable operators that use FCC Forms to justify their cable rates./1

Cable operators adjusting the non-external cost portion of their rates for inflation should follow the instructions provided with the applicable FCC Form. All inflation adjustment figures are based on changes in the Gross National Product Price Index (GNP-PI) published by the United States Department of Commerce, Bureau of Economic Analysis (BEA). ... Show Full Article