The Commodity Futures Trading Commission was granted a motion for entry of default judgment in a fraud case connected with binary options and retail foreign currency (forex) transactions.© Shutterstock Specifically, the motion for entry of default judgment is against California-based John D. Black and his affiliated entities Financial Tree; Financial Solution Group; and New Money […]

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The leaders of the House Financial Services Committee applauded the passage of legislation that would require financial regulators to adopt data collection standards and replace paper-based forms with electronic forms. © Shutterstock The Financial Transparency Act, which was included as an amendment to the FY 2023 National Defense Authorization Act (H.R. 7900), passed by a […]

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U.S. Sens. Bill Cassidy, M.D. (R-LA), John Kennedy (R-LA), Marco Rubio (R-FL), and Cindy Hyde-Smith (R-MS) recently introduced the NFIP Extension Act, which seeks to reauthorize the National Flood Insurance Program (NFIP) until Sept. 20, 2023.© Shutterstock “The White House needs to roll back their disastrous Risk Rating 2.0 system that is increasing rates for […]

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Senate Republicans have introduced legislation that seeks to recover funds from unemployment fraud and provide incentives for states to recover fraudulent payments. © Shutterstock The Chase COVID Unemployment Fraud Act of 2022 would accelerate efforts to recover fraudulent unemployment payments through pandemic unemployment programs. The lawmakers said that only $4 billion has been recovered thus […]

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The U.S. Securities and Exchange Commission (SEC) recently voted to adopt rule amendments governing proxy voting advice as proposed in November 2021. © Shutterstock “I am pleased to support these amendments because they address issues concerning the timeliness and independence of proxy voting advice, which would help to protect investors and facilitate shareholder democracy,” SEC […]

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U.S. Sens. Sherrod Brown (D-OH), Raphael Warnock (D-GA), Jon Ossoff (D-GA), Jeff Merkley (D-OR), and Kirsten Gillibrand (D-NY) forwarded correspondence this week to Federal Reserve Board of Governors Chairman Jerome Powell, advocating bolstered ethics rules.© Shutterstock “The Federal Reserve System is responsible for ensuring a safe, stable, and fair economy and financial system,” the senators […]

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The Securities and Exchange Commission proposed amendments related to a rule that requires the inclusion of shareholder proposals in a company’s proxy statement. © Shutterstock Generally, companies must include shareholder proposals in their proxy statements, but there are several exclusions. The proposed amendments would revise three of the bases for exclusion to promote more consistency […]

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A group of House Republicans recently introduced legislation that would require the administration to publish the inflationary impact of executive actions before enacting them.© Shutterstock Specifically, the Reduce Exacerbated Inflation Negatively Impacting the Nation (REIN IN) Inflation Act would require the chair of the Council of Economic Advisors (CEA) and the Office of Management and […]

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The U.S. Department of the Treasury is seeking public comment on potential opportunities and risks associated with digital assets.© Shutterstock It stems from President Joe Biden’s executive order, “Ensuring Responsible Development of Digital Assets.” The executive order directs the Treasury to report to the president on the implications of developing and adopting digital assets and […]

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U.S. Sens. Bill Hagerty (R-TN) and Thom Tillis (R-NC) recently raised concerns about the length of comment periods provided for some Securities and Exchange Commission (SEC) rule proposals.© Shutterstock “In recent months, both Republican and Democrat Members of Congress have repeatedly raised concerns about the length of comment periods the U.S. Securities and Exchange Commission […]

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