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Financial Regulation

All articles tagged with #financial regulation

US Regulators Align to Streamline Oversight and Boost Innovation
business1 month ago

US Regulators Align to Streamline Oversight and Boost Innovation

The CFTC and SEC signed a Memorandum of Understanding to coordinate oversight, reduce duplicative rules, and support lawful innovation while protecting investors. They launched the Joint Harmonization Initiative to align product definitions, modernize clearing and margins, ease operations for cross-registered venues, and establish a crypto-asset regulatory framework, alongside streamlined reporting, with public input welcome; the effort is led by Meghan Tente (CFTC) and Robert Teply (SEC).

via Commodity Futures Trading Commission | CFTC (.gov)|
#business#cftc#financial-regulation
Trump administration weighs retroactive citizenship proof for bank accounts
politics1 month ago

Trump administration weighs retroactive citizenship proof for bank accounts

The Trump administration is reportedly weighing a retroactive mandate for banks to collect proof of citizenship from all current and new customers, excluding REAL IDs; the policy would likely be pursued via executive action rather than legislation, and White House/ Treasury positions are unclear. Industry groups warn the move would be costly and logistically unworkable, raising concerns about nationwide implementation and potential GOP pushback.

via Semafor|
#bank-accounts#citizenship-verification#financial-regulation
business2 months ago

SEC Names Fresh PCAOB Leadership to Strengthen Audit Oversight

The Securities and Exchange Commission announced Demetrios (Jim) Logothetis as PCAOB Chairman and named Mark Calabria, Kyle Hauptman, and Steven Laughton to the board, with George Botic remaining as a board member and Acting Chairman until Logothetis is sworn in. Created by the Sarbanes-Oxley Act and overseen by the SEC, the PCAOB oversees audits of public companies and broker-dealers to protect investors and maintain independent, informative audit reports. Logothetis’ term runs through 2030, Calabria through 2027, Hauptman through 2029, and Laughton through 2026.

via SEC.gov|
#audit#business#financial-regulation
Coinbase opposition stalls Senate crypto regulation bill
business2 months ago

Coinbase opposition stalls Senate crypto regulation bill

The U.S. Senate Banking Committee postponed a discussion of a draft cryptocurrency regulation bill hours after Coinbase CEO Brian Armstrong opposed it, arguing the plan would define tokens as securities or commodities and could curb tokenized equities and stablecoin rewards; with Coinbase’s backing in doubt, the bill’s fate remains uncertain.

via Reuters|
#blockchain-and-cryptocurrency#business#cryptocurrencies
Trump Proposes One-Year 10% Cap on Credit Card Interest Rates
business3 months ago

Trump Proposes One-Year 10% Cap on Credit Card Interest Rates

Bill Ackman criticized President Trump's proposal for a one-year 10% cap on credit card interest rates, warning it could lead to widespread credit card cancellations and push consumers toward higher-cost loans. Ackman acknowledged the goal of reducing rates is important but argued that making the market more competitive and fostering new entrants would be a better approach. The proposal would require congressional approval, and its implementation remains uncertain.

via Business Insider|
#bill-ackman#business#credit-card-interest-rates