SEC Proposals Target Fraud, Misconduct in Security-Based Swap Transactions
The Securities and Exchange Commission today proposed three new rules aimed at preventing fraud and misconduct in connection with security-based swaps.
The Securities and Exchange Commission today proposed three new rules aimed at preventing fraud and misconduct in connection with security-based swaps.
The Federal Reserve today reminded banks of its expectations for safe and sound practices with regard to counterparty credit risk management.
In its Semiannual Risk Perspective Report, the OCC flagged operational and strategic risk as being elevated, with banks continuing to face increasingly sophisticated cyberattacks and take strategic risks to improve earnings.
While the Federal Reserve is not planning to join onto forthcoming OCC guidance for large firms on managing climate risk, Fed Chairman Jerome Powell signaled that he would be open to coordinating the other banking agencies to ensure a consistent regulatory framework around climate risk, and that the Fed could also move to issue its own guidance in the future.
Speaking on a virtual panel at FT Live’s Global Banking Summit Wednesday, ABA President and CEO Rob Nichols addressed top risks and challenges facing the banking industry, including the shifting regulatory and policy environment.
In an interpretive letter issued today, the OCC confirmed that national banks and federal savings…
The Basel Committee on Banking Supervision today released outlined principles for the effective management and supervision of climate-related financial risks.
In remarks today at the OCC, Acting Comptroller Michael Hsu indicated that the agency plans to address climate change risk regulation with high-level framework guidance and five “range of practices” questions for large-bank boards by the end of 2021.
The Financial Stability Oversight Council today said that climate change represents an “emerging threat” to U.S. financial stability, and approved a report containing more than 30 specific recommendations that its member agencies can take to identify and address climate-related financial risk.
In remarks at an industry event in Washington today, Acting FinCEN Director Himamauli Das addressed the growing threat of ransomware.