Commentary by Steven Lofchie
In its 2021 Annual Report, the Financial Stability Oversight Council assessed the state of the financial system and provided recommendations concerning climate-related financial risk, digital asset risk, the orderly transition away from LIBOR, and cybersecurity.
FinCEN and the OCC penalized a Texas-based bank for willful violations of the Bank Secrecy Act and its implementing regulations.
FINRA adopted amendments to a rule on reporting and fee requirements for the delivery by broker-dealers of proxy and other issuer-related materials.
FINRA is seeking comment on a proposal to expand prohibitions against outside borrowing and lending agreements between registered individuals and their customers.
NFA adopted an amendment to the examination requirement for branch office managers of firms that engage only in swap activities.