SEC Approves Treasury Clearing Proposal
On December 13, The Securities and Exchange Commission (SEC) today adopted rule changes to address risk management practices for central counterparties in the U.S. Treasury market and facilitate additional clearing of U.S. Treasury securities transactions. The rule changes update the membership standards required of covered clearing agencies for U.S. Treasury …
Read MoreSEC Denies Coinbase Petition for Rulemaking
On December 15, the Securities and Exchange Commission (SEC) denied a Petition for Rulemaking filed on behalf of Coinbase Global, Inc. which sought new rules for the digital asset sector. Coinbase’s Petition for Rulemaking was denied in a 3-2 vote. SEC Chairman Gary Gensler, the two Democrat Commissioners, Caroline Crenshaw and …
Read MoreHouse Financial Services Committee Hearing
On December 12, the House Financial Services Subcommittee on Capital Markets held a hearing entitled “Examining the Agenda of Regulators, SROs, and Standards-Setters for Accounting, Auditing.” Witnesses in the hearing were: · Erica Williams, Chair, Public Company Accounting Oversight Board (PCAOB) · Richard Jones, Chair, Financial Accounting Standards Board (FASB) …
Read MoreSenate Baking Committee Hearing
On December 6, the Senate Banking Committee held a hearing entitled “Annual Oversight of Wall Street Firms.” The witnesses in the hearing were: Mr. Charles W. Scharf, CEO And President, Wells Fargo & Company Mr. Brian Thomas Moynihan, Chairman and CEO, Bank of America Mr. Jamie Dimon, Chairman And CEO, JPMorgan Chase & …
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