by David Schwartz J.D. CPA, Executive Director | Aug 15, 2025 | All
The Landscape of FPL Programs Navigating the regulatory landscape of fully-paid securities lending (FPL) programs requires broker-dealers to adhere to a framework of rules centered on customer protection and transparency. These programs offer retail investors a way to...
by David Schwartz J.D. CPA, Executive Director | Jun 20, 2025 | All
The impending democratization of securities lending, with FINRA’s SLATE launching on January 2, 2026, will create unexpected paradoxes. Institutions will benefit from enhanced benchmarking, but brokers in retail-focused, fully paid securities lending (FPL)[1] will...
by Ed Blount, Founder and Director Emeritus, David Schwartz J.D. CPA, Executive Director | May 26, 2025 | All, Cross-Post
The securities lending market is about to enter a radically transformative phase. Starting January 2, 2026, SEC Rule 10c-1a will mandate daily public reporting of all U.S. securities loan transactions via FINRA’s Securities Lending and Transparency Engine (SLATE)....
by David Schwartz J.D. CPA, Executive Director | Feb 25, 2025 | All
The world of securities finance is entering a transformative era driven by advances in artificial intelligence and increasing regulatory transparency. A groundbreaking proof-of-concept (POC) study conducted by Advanced Securities Consulting (ASC) has demonstrated how...
by David Schwartz J.D. CPA, Executive Director | Jan 17, 2025 | All, Change Overview and Rationale, Formal Regulatory Remedies
Introduction In the dynamic landscape of financial regulation, the accuracy and reliability of internal rules-based (IRB) models for regulatory capital calculations have become increasingly critical. The Treasury’s Basel IV endgame reproposal presents a valuable...
