The Federal Reserve, FDIC and Office of the Comptroller of the Currency released details on their upcoming stress test scenarios for large financial institutions. In the case of the Fed, 32 banks will be tested against a severe global recession with heightened stress in both commercial and residential real estate markets, as well as in corporate debt markets. The FDIC and OCC stress tests include baseline and severely adverse scenarios for covered institutions
FinCEN, SEC propose requiring investment advisers to collect customer identifications
The SEC and FinCEN proposed a new rule to require SEC-registered investment advisers and exempt reporting advisers to adopt customer...