- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-11-06T19:26:00
A new analytic framework approved by the Financial Stability Oversight Council (FSOC) seeks to provide further clarity into how the U.S. financial system is monitored for potential financial stability risks.
The framework, issued Friday, “explains how the council considers risks irrespective of their source and how the council addresses risks using the full range of its authorities,” said the Treasury Department in a press release. FSOC, which is led by Treasury Secretary Janet Yellen, first proposed the framework in April.
The framework will take effect 60 days after publication in the Federal Register.
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A new report by the Financial Stability Oversight Council recommended state regulators and Congress take steps to minimize “significant liquidity risk” posed by the nonbank mortgage servicing industry.
Federal regulators proposed to place nonbank financial institutions under supervision of the Federal Reserve Board if their activities are deemed to pose a systemic risk to the U.S. financial system.
A new report by the Financial Stability Oversight Council identified three regulatory gaps in the current oversight of cryptocurrency, stablecoins, and other digital assets and recommended steps Congress and federal regulators should take to close them.
Securities and Exchange Commission Chair Gary Gensler will step down from his position as the top U.S. regulator of Wall Street when Donald Trump is sworn in as president on Jan. 20, ending weeks of speculation about his future.
President-elect Donald Trump announced he plans to appoint Cantor Fitzgerald President and CEO Howard Lutnick to lead the U.S. Commerce Department, as the incoming administration is expected to charge import tariffs against friends and foes.
If your business uses leather, rubber, wood, beef, palm oil, soy, or paper, then you may need to comply with the EU Deforestation Directive, a new rule intended to ensure that no goods traded in the EU contribute to global deforestation.
