The Federal Reserve Board announced the six major U.S. commercial banks that will participate in a pilot climate scenario analysis exercise designed to improve their ability to identify and mitigate climate-related risk.

The Federal Reserve Board adopted a final framework for the supervision of any depository institution holding company that (i) is an insurance underwriting company or (ii) has over 25 percent of its consolidated assets held by insurance underwriting subsidiaries.

FINRA's National Adjudicatory Council revised its Sanctions Guidelines to more accurately reflect the levels of sanctions imposed in disciplinary proceedings.

Federal Reserve Board Governor Michelle W. Bowman urged the FRB to update its framework for evaluating competition within the banking industry.

A broker-dealer settled FINRA charges for failing to preserve employees' business-related text messages. The settlement was part of a larger joint agency sweep to assess compliance with recordkeeping and supervision requirements related to "off-channel" communications involving employees' personal devices.