- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-01-14T21:05:00
President Joe Biden nominated Sarah Bloom Raskin, a former Treasury official, to serve as the Federal Reserve’s vice chair for supervision. Lisa Cook and Philip Jefferson were nominated to be Fed governors.
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Sarah Bloom Raskin, President Joe Biden’s pick to be vice chair for supervision at the Federal Reserve, withdrew her nomination after losing the support of a key Democratic senator.
Richard Clarida, vice chair of the Federal Reserve Board, will resign from his post two weeks earlier than the expiration of his term after a report called into question trades he made just prior to the start of the Covid-19 pandemic.
Randal Quarles, vice chair for supervision at the Federal Reserve, submitted his resignation as a member of the board, effective at the end of December.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
