The Securities and Exchange Commission is inviting comments on a proposal by the Financial Industry Regulatory Authority to implement a Supplemental Liquidity Schedule under FINRA Rule 4524. This schedule would be an addition to the FOCUS Report and is aimed at carrying members with significant free credit balances or substantial outstanding financial agreements. The proposal seeks to enhance financial reporting and operational transparency within the industry.

Derivatives are essential financial instruments in global markets, used for risk management and speculative opportunities. The industry has evolved significantly, especially post-2008 financial crisis, leading to regulatory reforms for market stability. Derivatives are traded on exchanges and OTC markets, with regulatory oversight varying by country. Key regulatory bodies include the US CFTC, ESMA, FCA, FSA, and MAS. The 'Capital Markets: Derivatives 2024' Guide provides insights into derivatives' types, market impact, and regulatory landscape, highlighting recent developments like international cooperation and technological innovations.

The American Bar Association's Standing Committee on Ethics and Professional Responsibility issued Formal Opinion 512, offering guidance on the ethical use of generative artificial intelligence (GAI) tools in legal practice. The opinion emphasizes the need for lawyers to understand the capabilities and limitations of GAI tools, maintain professional judgment, and avoid uncritical reliance on AI-generated content. It advises lawyers to acquire a reasonable understanding of GAI tools or consult experts, and to read and understand the terms of use and privacy policies of these tools. The opinion also highlights the importance of informed client consent when using self-learning GAI systems. While providing some guidance, the opinion leaves room for interpretation and acknowledges the rapidly evolving nature of GAI technology.

The American Bar Association's Formal Opinion 512 addresses ethical considerations for lawyers using generative AI tools, emphasizing the need for competence, confidentiality, and informed client consent. Lawyers are advised to understand the capabilities and limitations of AI tools, consult experts, and be cautious with client information. The opinion highlights the evolving nature of AI technology and its potential impact on legal practice, while acknowledging that ABA opinions are not binding and may differ from state bar approaches.

The article explores the modern situation of hasukjip, a type of small business in South Korean cities, which serves as private dormitories for students. It highlights the lack of academic research on hasukjips despite their reflection of various aspects of Korean life. The study is based on sociological materials, including interviews conducted in 2022 with residents and teachers of hasukjips, aiming to understand their role in Korean society and abroad.

In December 2020, the SEC introduced a new broker-dealer type called 'special purpose broker-dealer' (SPBD) for digital asset securities. Recently, an SPBD proposed to custody Ether (ETH) as a security, which could have significant regulatory implications, potentially reclassifying ETH futures as security futures subject to both SEC and CFTC oversight. The regulatory status of ETH is currently unclear, with the CFTC viewing it as a commodity and the SEC not publicly challenging this view. However, SEC Chair Gary Gensler has not confirmed his stance on ETH's classification. If ETH is deemed a security, it would necessitate a transition period for market participants to adjust, similar to transitions for security indices. The article suggests that the SEC should not allow an SPBD to unilaterally decide ETH's status and should consult with the CFTC before any reclassification, to avoid market disruption.

The Securities and Exchange Commission (SEC) has adopted final rules to establish a trading regime for security-based swaps (SBS) under the Dodd-Frank Act, titled 'Regulation SE.' These rules create a framework for the registration and regulation of SBS execution facilities (SBSEFs) and address issues such as cross-border application, exceptions from registration, and conflicts of interest. The new SBSEF regime closely resembles the Commodity Futures Trading Commission's (CFTC) SEF regime, with some differences due to statutory authority and market characteristics. Key modifications include the removal of the 'block trade' definition, changes to daily market data reports, and guidance on SBS transactions intended for clearing. The SEC aims to harmonize its rules with the CFTC's to facilitate dual registration and minimize costs for market participants. The rules also address cross-border transactions, requiring foreign platforms facilitating SBS for 'covered persons' to register as SBSEFs. The compliance schedule mandates that entities file for SBSEF registration within 180 days of the rules' effective date.

Interventional oncology (IO) is a challenging yet rewarding field, particularly when transitioning from an academic hospital setting to an outpatient space. Key lessons include the importance of maintaining hospital presence to build an outpatient IO practice, the financial implications of procedures in an outpatient setting, and the critical role of industry collaboration. Establishing relationships with oncology practices and industry partners is essential for navigating regulatory requirements and building a referral network. Despite the challenges, providing high-quality care and maintaining patient interests can lead to a successful outpatient IO practice.

The SEC has adopted final rules to establish a trading regime for security-based swaps (SBS) under the Dodd-Frank Act, closely aligning with the CFTC's existing swap execution facility (SEF) rules. The new rules, known as Regulation SE, address SBS execution facilities' registration, regulation, and cross-border application, among other issues. While harmonizing with the CFTC's SEF regime, the SEC's rules include some differences, such as financial resource requirements and the cross-border application of rules. The SEC aims to facilitate dual registration and minimize compliance costs for entities already registered with the CFTC. Key modifications include the removal of the proposed

The SEC has adopted amendments to Rule 15b9-1, requiring almost all broker-dealers to join FINRA, eliminating a proprietary trading exclusion. This change aims to create a consistent regulatory framework for broker-dealers. Proprietary trading firms must now become FINRA members within 365 days of the rule's publication in the Federal Register, unless they are not SEC-registered or only transact on exchanges where they are members. The FINRA membership application process is detailed and can be expedited for certain firms. As FINRA members, firms will have new reporting obligations and will be subject to FINRA's examination and enforcement jurisdiction.