August 12, 2019
“On August 9, 2019, the Committee issued a complaint against Wells Fargo, a provisionally registered swap dealer and NFA member with its main office located in San Francisco, California. The complaint alleges Wells Fargo violated NFA Compliance Rule 2-49 (a) by failing to communicate with a counterparty in a fair and balanced manner as required under Commodities Futures Trading Commission Regulation 23.433,” the decision stated.
August 11, 2019
FINRA Spells Out Extraordinary Cooperation. FINRA, the Financial Industry Regulatory Authority, would like its member firms to know there’s extra credit possible for cooperating in investigations. Susan Schroeder, the executive vice president and head of FINRA Enforcement, was the latest guest on FINRA’s podcast, FINRA Unscripted.
August 6, 2019
In the wake of the global ﬁnancial crisis of 2008–2009, Basel III introduced a more comprehensive set of capital and liquidity requirements for banks in order to address shortcomings in the pre-crisis capital framework and improve the resilience of the ﬁnancial system.
August 5, 2019
The US Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing entitled, “Examining Regulatory Frameworks for Digital Currencies and Blockchain.” A good portion of the hearing was dedicated to skepticism of Facebook’s digital currency idea, the Libra.
July 27, 2019
Minorities use mobile banking at higher percentages than whites in the US. In the most recent episode of FINRA’s podcast Unscripted, Gerri Walsh, a Senior Vice President at FINRA, and Gary Mottola, the Research Director for Investor Education at FINRA, joined the broadcast.
July 26, 2019
Dave Morgan is an expert in precious metals who says he is, “a big-picture macroeconomist whose main job is education,” on his website, The Morgan Report.
The Top Regulator in Europe and the Head of the Futures Industry Trade Group Both Crossed Paths Thirty Years Ago in College
July 20, 2019
The top regulator in Europe and the head of the futures industry trade group both crossed paths thirty years ago in college. Walt Lukken is the Chief Executive Officer (CEO) of the Financial Industry Association (FIA).
July 20, 2019
Even though the fifth amendment is a Constitutional right, Commodities Futures Trading Commission (CFTC) enforcement officials can draw a negative inference when its invoked, according to their manual. The Futures Industry Association held its latest webinar entitled “The CFTC’s New Enforcement Manual: Its Key Content and Use for Practitioners in CFTC Investigations.”
The Five Regulators Overseeing the Volcker Rule Pushed Back Regulations for Certain Foreign Excluded Funds
July 19, 2019
Three regulators overseeing the Volcker rule pushed back regulations for certain foreign excluded funds. Three of the five regulators- the Office of Comptroller of Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve- jointly announced the decision.