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Uyeda sworn in as SEC commissioner

Mark T. Uyeda, who was nominated by US president Joe Biden earlier this year, has been sworn in as a commissioner at the Securities and Exchange Commission (SEC).

Agencies delay feedback on G-SIB resolution plans

Global systemically important banks (G-SIBs) are going to have to wait longer to receive feedback on their 2021 resolution plans as the agencies need more time to analyse them. 

OCC warns that banks face elevated risks

Banks face a phalanx of risks ranging from high inflation, rising interest rates, operational issues related to an increasingly complex environment and compliance challenges, but at least credit risks are low for the time being, said the Office of the Comptroller of the Currency (OCC). 

FDIC

Banks slam FDIC for changing appeals process without ‘proper’ consultation

Changes in the way the US Federal Deposit Insurance Corp (FDIC) handles supervisory appeals has generated a backlash from the industry which accuses the agency of having proceeded without proper public comment or notice. 

US Fed building

Banks ace stress tests - but next one might be harder to pass

As the prospects for the US economy darken, the stress test results published on June 23 show systemically important banks are able to swallow substantial losses if a recession materialises.

Julia Salant

SEC’s ambitious climate reporting goals face practical hurdles

Companies listed in the US will face one of the most exacting climate-related disclosure regimes in the world if the Securities and Exchange Commission gets its way, and there are already concerns that it goes too far.

CFTC slaps Glencore with record fine for market manipulation

On May 24, the global commodities trading firm Glencore, was hit with a record $1.19bn civil penalty by the Commodity Futures Trading Commission for manipulative and deceptive conduct that spanned from 2007 to 2018. 

Financial firms score victory over exchanges on stock market data feeds

Stock exchanges risk losing their ability to charge high prices for some of their data following a US appeals court decision supporting the Securities and Exchange Commission’s (SEC) plan to reform the way this data is collected and distributed. 

CBDCs and stablecoins can co-exist says Fed vice chair

There is room for central bank digital currencies (CBDC) and stablecoins to co-exist side by side under certain conditions, said US Federal Reserve vice chair Lael Brainard on May 26 in testimony to the US House of Representatives Committee on Financial Services. 

Brandon Hammer

Fixes sought for flaws in US Treasury market as volatility intensifies

The US treasuries market remains vulnerable to more dysfunctional episodes as crises are happening more often which is heaping pressure on policy-makers to find structural fixes.