The DOJ and the SEC charged a subsidiary of an international investment adviser with defrauding investors by concealing billions of dollars of losses and misrepresenting downside risk in connection with a series of hedge funds that collapsed in March 2020.
Industry groups, regulators and elected officials submitted feedback on the SEC's proposed disclosure requirements regarding cybersecurity risk management, governance, strategy and incident reporting by public companies.
The U.S. House Committee on Agriculture (i) considered a proposal by FTX - a registered derivatives clearing organization - to expand its services and (ii) examined trends in new clearinghouse models.
Treasury Secretary Janet L. Yellen testified before the House Financial Services Committee on the Financial Stability Oversight Council's 2021 Annual Report to Congress.
The CFPB issued an advisory opinion clarifying that consumer lending protections extend after a loan has been advanced. In addition, the CFPB released its 2021 Fair Lending Annual Report to Congress.
At a hearing before the Senate Committee on Banking, Housing and Urban Affairs, Treasury Secretary Janet L. Yellen testified on the Financial Stability Oversight Council's 2021 Annual Report to Congress.
Senators Elizabeth Warren (D-MA) and Tina Smith (D-MN) challenged Fidelity Investments to defend its recent decision to allow investments in Bitcoin in its 401(k) investment plan menu.
In a Fact Sheet, the DOJ outlined proposed legislation to add resources and capabilities "to isolate and target the crimes of Russian officials, government-aligned elites, and those who aid or conceal their unlawful conduct."
In a testimony before the House Financial Services Committee, CFPB Director Rohit Chopra reviewed progress to date on the agency's consumer protection agenda.
