US Treasury
The effective date of the final rule for investment advisers and exempt reporting advisers will be delayed by two years 
    
    
      
        
    
      
    
    
    
  Law firms are warning clients that the recent White House executive order is the first of many actions aiming to distance the US economy from China
    
    
      
        
    
      
    
    
    
  The new rules result from years of mounting China-US tensions and aim to close a loophole in US export controls
    
    
      
        
    
      
    
    
    
  Despite its strong push to mandate central clearing for US Treasury trades, the SEC is unlikely to move forward without the authorities’ green light
    
    
      
        
    
      
    
    
    
  SEC proposals to centrally clear US Treasury securities transactions would create concentration risk
    
    
      
        
    
      
    
    
    
  Recent economic events have affected liquidity in the US Treasury market, bringing the debate around the SEC’s proposed reform back to the fore
    
    
      
        
    
      
    
    
    
  Upcoming rules that will tighten outbound investment controls could also apply to past transactions
    
    
      
        
    
      
    
    
    
  Any clearing mandate should start with cash transactions only, and bring in repos at a later stage
    
    
      
        
    
      
    
    
    
  
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