- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-09-12T12:46:00
Facing intense pressure from the banking industry, the Federal Reserve Board may scale back two controversial rule proposals aimed at reducing risks of bank failures in the event of a market downturn.
Michael Barr, the Fed’s vice chair for supervision, said that he will recommend that two rules–the Basel III endgame proposal and the proposal to adjust the capital surcharge for global systemically important banks (G-SIBs)–be scaled back.
“I intend to recommend that the board re-propose the Basel endgame and G-SIB surcharge rules. This will provide the public the opportunity to fully review a number of key broad and material changes to the original proposals and provide comment,” he said in a speech delivered Tuesday at the Brookings Institution in Washington, D.C.
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2025-03-19T13:00:00Z By Aaron Nicodemus
Federal Reserve Board member Michelle Bowman has been nominated as the board’s vice chair for supervision, a position that oversees regulation of the nation’s largest banks.
2025-02-05T18:56:00Z By Aaron Nicodemus
Managing the unrelenting pace and increasing complexity of regulations is the top concern among compliance professionals, according to a recent survey by Compliance Week and Resolver.
2024-09-03T15:47:00Z By Aaron Nicodemus
The Federal Reserve Board will require more than 30 of country’s largest banks to maintain a minimum percentage of capital in reserve, a percentage which the Fed calculated based on their complexity and whether they are considered a global systemically important bank.
2025-03-28T18:45:00Z By Aaron Nicodemus
The Securities and Exchange Commission’s Republican leadership is abandoning the climate-related disclosure rule package passed last year by Democrats, hoping that the courts will kill regulations already on life support.
2025-03-24T15:47:00Z By Aaron Nicodemus
The U.S. Treasury Department’s Financial Crimes Enforcement Network issued a final interim rule that eliminates beneficial ownership information reporting obligations for U.S.-based companies and persons.
2025-03-18T13:00:00Z By Neil Hodge
A European Union-wide ban on AI systems with “unacceptable” risk came into force on Feb. 2 as the first provisions of the EU’s AI Act took effect. Problems persist, however, over what the legislation requires and what corporate practices or uses of data may risk flouting the rules.
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