The U.S. Securities and Exchange Commission (SEC) recently announced that Haoxiang Zhu has been appointed as the agency’s Division of Trading and Markets Director post.© Shutterstock Additionally, David Saltiel has been appointed to a Division Deputy Director role. Zhu, a professor of finance at the Massachusetts Institute of Technology, would assume his role on Dec. […]

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SIFMA, a trade association for broker-dealers, investment banks, and asset managers, completed its global, industrywide Quantum Dawn VI cybersecurity exercise on Nov. 18.© Shutterstock The goal of the Quantum Dawn VI exercise was to allow financial firms, central banks, regulatory authorities, trade associations, law enforcement, and information sharing organizations around the world to rehearse their […]

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The Federal Reserve Board said federal bank regulatory agencies have approved a final rule that seeks to improve information sharing regarding banking system cyber incidents. © Shutterstock Final rule compliance is required by May 1, 2022. The guidance requires a banking organization to notify its primary federal regulator of any significant computer-security incident as soon […]

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A bipartisan bill introduced in the U.S. House of Representatives addresses the digital asset reporting provisions in the Infrastructure Investment and Jobs Act to provide more clarity to technology innovators and entrepreneurs.© Shutterstock The Keep Innovation in America Act (H.R.6006) makes several changes to the digital asset reporting requirements to make sure they match the […]

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The U.S. Securities and Exchange Commission (SEC) has published a proposed rule requiring securities lenders to provide material terms of transactions to a registered national securities association.© Shutterstock Exchange Act Rule 10c-1 is in accordance with Congress’s mandate in the Dodd-Frank Act mandating the SEC increase transparency as it relates to loan or borrowing of […]

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The Joint Economic Committee (JEC) recently hosted a hearing focused on digital assets and the government’s role in regulation and policy.© Shutterstock The hearing, “Demystifying Crypto: Digital Assets and the Role of Government,” explored domestic and global regulatory, policy, and economic concerns posed by digital assets. “The mainstreaming of digital assets is laying the foundation […]

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U.S. Reps. French Hill (R-AR) and Blaine Luetkemeyer (R-MO) urged the Small Business Administration to stop its direct lending efforts in a letter Wednesday. © Shutterstock Hill, the ranking member of the Subcommittee on Housing, Community Development and Insurance, and Luetkemeyer, the ranking member of the House Small Business Committee, wrote that the SBA’s administration […]

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U.S. Sen. John Boozman (R-AR) is among a group of Senators that have expressed concern about a pilot program from the U.S. Postal Service (USPS) to implement banking services, including check-cashing.© Shutterstock Boozman and 18 of his Senate colleagues sent a letter to Postmaster General Louis DeJoy, saying the pilot program is not under the […]

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Attorneys general from five states responded to a request for information from the Department of Treasury’s Federal Insurance Office on how it should best implement President Joe Biden’s Executive Order on Climate-Related Financial Risk. © Shutterstock In their response, the AGs from New York, Connecticut, Maryland, Massachusetts, and Oregon said it needs to address the […]

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The Consumer Financial Protection Bureau (CFPB) is seeking input regarding Home Mortgage Disclosure Act (HMDA) rule implementation.© Shutterstock The agency has issued a Request for Information (RFI) in accordance with plans to review recent changes to the rule and evaluate effectiveness. The analysis would strengthen the CFPB’s ability to maintain an equitable, competitive and non-discriminatory […]

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