- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-07-13T21:10:00
Michael Barr, a professor and former top official at the Treasury Department, was confirmed by the Senate as vice chair for supervision at the Federal Reserve.
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Jerome Powell is set to begin his second term as chair of the Federal Reserve after receiving bipartisan support in a Senate confirmation vote.
President Joe Biden announced his intent to nominate Michael Barr, a key architect of the Dodd-Frank Act and former Treasury Department assistant secretary, to serve as the Federal Reserve’s vice chair for supervision.
President Joe Biden has ordered federal regulators to study the risks and potential benefits of digital assets and their underlying technology while encouraging the Federal Reserve to continue evaluating the creation of a federally backed digital currency.
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.
