The United States Federal Reserve will ban its top officials from holding individual stocks, and outlaw all trading activity during periods of heightened financial stress, as it responds to a controversy that saw two of its bank chiefs step down.
22 October 2021
The US Federal Reserve has said that Randal Quarles will not continue in his role as head of its banking regulation committee, which is set to continue “unchaired” for now.
13 October 2021
The United States Federal Reserve’s watchdog has commenced a probe into whether senior officials broke any laws by trading during the pandemic, as two senators call for separate SEC and Congressional investigations into whether the central bank’s vice chair engaged in insider trading.
06 October 2021
Federal Reserve officials are expected to face greater scrutiny of their trading activities, as the resignations of two Federal Reserve district presidents following reports of their investment trading activities prompts a review of the central bank’s ethics rules.
29 September 2021
The US Office of the Comptroller of the Currency has proposed abolishing last year’s contentious reforms to implementation of the Community Reinvestment Act, bringing a pending lawsuit against the rulemaking to a pause.
09 September 2021
US fintech Circle is attempting to obtain a US federal bank charter, citing frustrations at third party chains slowing its operations.
11 August 2021
Ahead of its release of a highly-anticipated paper into the viability of a digital dollar, members of the US Federal Reserve have expressed conflicting views on whether a US CBDC would be necessary or desirable.
09 August 2021
The United States’ banking regulators have proposed guidelines for banks to manage risks carried within third-party relationships by giving greater oversight to their “critical activities”, particularly where fintechs are involved.
19 July 2021
The UK’s Prudential Regulation Authority has removed the “extraordinary guardrails” it imposed on dividend distribution during the pandemic, but has warned banks to exercise an “appropriate degree of caution”.
14 July 2021
The United States’ Commodity Futures Trading Commission’s benchmark reform committee has called for a swifter move away from Libor in interdealer swap trades, to speed up the production of a term rate for its replacement benchmark.
09 June 2021
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