Region: United States of America

SEC revives decade-old market manipulation proposal

The US Securities and Exchange Commission has revived a proposed rule to stamp out fraud and manipulation in the security-based swaps market, over a decade after abandoning it in the face of industry pushback.

14 January 2022

ESMA to tackle exposure to non-EU CCPs

The EU’s securities regulator has called for extra powers to reduce the financial stability risks posed by the bloc’s exposure to non-EU central counterparties, naming clearing services provided by LCH and ICE Clear Europe as of “substantial systemic importance”.

22 December 2021

New OCC climate rules could prove “too prescriptive”, practitioners say

The OCC has laid out a draft framework for major banks to address climate risk, with practitioners saying there is concern it is “not tailored to the risks” faced by a particular bank.

20 December 2021

FinCEN seeks comment on updated laundering regulations

The US Treasury’s financial crimes department has made a call for information to help update its anti-money laundering regime, ahead of a potential Bank Secrecy Act overhaul, after Treasury Secretary Janet Yellen argued the US may be the “best place” to launder ill-gotten gains.

16 December 2021

SEC commissioners “disappointed” over new regulatory agenda

The SEC’s two Republican commissioners have voiced concern over chair Gary Gensler’s recently finalised regulatory agenda, saying they are “disappointed” by its silence on crypto and its neglect of capital formation.

15 December 2021

FDIC bank merger review sparks partisan board conflict

The chair of the United States’ Federal Deposit Insurance Corporation has spoken out against two of the regulator’s Democratic board members for consulting on its bank merger policy without her approval.

13 December 2021

FDIC launches new appeals office

The United States’ federal deposit insurer has replaced its appeals committee with a new Office of Supervisory Appeals despite concerns that its new setup could undermine its independence from the banking sector.

08 December 2021

OCC search continues as Omarova withdraws

Joe Biden’s nominee for Comptroller of the Currency, Saule Omarova, has withdrawn after centrist Democrats withheld their support.

08 December 2021

Weather disasters “not very bad” for banks, says NY Fed

New York’s banking regulator has released a staff report playing down the significance of weather disasters on banks, saying that larger banks’ incomes “actually increase after disasters”.

01 December 2021

“Proxy access on steroids”: SEC empowers proxy voters with new rules, over Peirce’s dissent

The United States’ securities regulator has proposed to overhaul rules implemented by successive Republican leaderships, giving proxy voters more freedom during corporate board elections and boosting the armoury of activist investors.

18 November 2021

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