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- Bill Cosby Found Guilty of Sexual Assault
- Credit Suisse Fully Compliant on Sanctions: CEO
- Ex-UBS Metals Trader Beats Spoofing Conspiracy Charge
- Investment Advisor, WCAS Management Corp, To Pay Nearly $800K Over Conflicts of Interest
- Altaba, fka Yahoo!, to Pay $35Mn for Failing to Disclose Massive Cybersecurity Breach - SEC
- SEC Formerly Bars Martin Shkreli from Industry
- HF Billionaire Steve Cohen Buying Into Fintech Start-Ups
- Deutsche Bank Is Weighing Massive Cuts in Its U.S. Cash Equities Unit
- Richard Jenrette, Co-Founder of DLJ Investment Bank, Dies at 89
- Goldman Sachs Makes First Hire in Cryptocurrency Markets Unit
- Special FINRA Election to Fill Large Firm Governor Vacancy
- Chicago-Based Investment Adviser Sentenced to 151 Months in Prison - SEC
- Dun & Bradstreet Hit With FCPA Violations - SEC
- SEC Charges Additional Defendant in Fraudulent ICO Scheme
- Warren Buffett Simply Blew it on Wells Fargo Stock: Dick Bove (Video)
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
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Wall Street News
Treasury Market Group Proposes Best Practices for Handling Confidential Info
[Photo: The Federal Reserve Bank of New York]
The Treasury Market Practices Group (TMPG) of the Federal Reserve Bank is proposing to update its Best Practices for Treasury, Agency Debt and Agency Mortgage-Backed Securities Markets. The changes would add recommendations related to the appropriate handling and use of confidential information. The TMPG welcomes feedback on its Proposed Best Practice Recommendations on Information Handling with Illustrative Examples.
PURPOSE: In recent years, there have been a number of serious cases of misuse of confidential information that undermined the integrity of financial markets. To support market functioning and integrity, the TMPG thought it prudent to develop practice guidance for its covered markets.
WHAT’S CHANGING: The TMPG is calling for market participants to:
- communicate in a clear and truthful manner,
- not share or use confidential information with the intent of adversely affecting the interests of a counterparty or the integrity of the market,
- limit sharing and use of confidential information,
- adopt policies and procedures that identify and address limitations on the sharing and use of confidential information,
- make information handling practices available to counterparties, and
- establish internal controls designed to ensure compliance with established polices.
[Click here to access “Best Practices FOR TREASURY, AGENCY DEBT, and AGENCY MORTGAGE-BACKED SECURITIES MARKETS” (January 2017)]