Goldilocks’

Goldilocks’ Comments and Global Economic News Friday Evening 11-3-23

Good evening

“SEC Finalizes Rule on Security-Based Swaps Trading Venues”

The delayed Dodd-Frank-era measures outlines and registration rules. After careful analysis, there were about five firms expected to have to register with agency.

Conclusion: “The US Securities and Exchange Commission (LINK BELOW) has released final rules for security-based swaps trading platforms, giving them the green light to register with the agency.” This allows security based swaps to flow freely through all the firms with transparency in foreign currency exchanges.

There are three steps to the finalization of a rule. This is the third one, and it was given the green light to move forward. (https://www.bloomberg.com/quote/13165Z:US)

This does not mean you and I will go in at the push of a button. These firms are still organizing themselves, registering with the SEC, and preparing for new changes taking place.

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Executive Order Announcement:

On October 29, the Biden Administration issued a broad Executive Order (Order) on artificial intelligence (AI). Titled “Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence,” the Order establishes guidelines for AI safety and security, aims to shield Americans’ data privacy, and emphasizes equity and civil rights.

As stated by the White House in its Fact Sheet about the Order, the Order “stands up for consumers and workers” while fostering innovation and competition.
ConsumerFinanceMonitor Link

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AFME and Deloitte release post-trade inefficiencies paper.

The Association for Financial Markets in Europe (AFME) and Deloitte have published a report detailing the causes of settlement fails in the EU securities market. They offer a number of recommendations on how post-trade processes could be made more efficient. AssetServicingTimes Link

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Riding the Wave: Tokenization Takes Center Stage in Crypto’s 2023 Resurgence Securities.io Link

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Coinbase crypto futures for retail US traders goes live, includes ‘nano’ bitcoin trading The Block Link

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Banking Announcements on AI:

Integration of AI, Fintech, ESG Gets Underway

By Jill Wong, Regulation Asia Published on 31st October 2023

The financial industry is accelerating its interest around three main themes – fintech, ESG and AI.
Regulation Asia Link

G7 Nations Agree on Code of Conduct for AI Systems

By Editors, Regulation AsiaPublished on 31st October 2023

The code of conduct for AI developers seeks to promote the development of “secure and trustworthy” AI systems internationally. RegulationAsia Link

White House Issues Executive Order to Regulate AI

By Sanday Chongo Kabange, Regulation AsiaPublished on 31st October 2023

The executive order sets out new standards for AI safety and requirements for developers and users of AI systems. RegulationAsia Link

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CFPB Proposes Rule Granting Consumers Greater Access to and Control Over Their Financial Data | Jaburg Wilk JDSupra Link

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Wall Street regulator adopts new rules for swap trading facilities Reuters Link

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Saudi Arabia is engaged in ongoing discussions with Pakistan to purchase a portion of the government’s stake in a $7 billion copper project, which is co-owned with Barrick Gold

The second-largest gold producer

The Kingdom is increasingly hunting for metal assets.

A trend…

Read: https://twitter.com/GoldTelegraph_/status/1720483410098188506

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Today,

China’s biggest index provider launched two stock indices linked to gold, which include shares of global gold mining companies.

Read: https://x.com/goldtelegraph_/status/1719809391174865082?s=46

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What execs are saying about bank-fintech partnerships Banking Dive Link

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