The Board of Governors of the Federal Reserve adopted new operational risk management requirements for systemically important designated clearing organizations.
News & Insights
The CFTC extended the comment period until April 1, 2024, for a proposed rule that would require that futures commission merchants and swap dealers establish and maintain an "Operational Resilience Framework."
The CFPB reminded consumer reporting companies of their obligations under the Fair Credit Reporting Act to (i) address inaccurate information found in background checks, (ii) monitor for improper credit file sharing and (iii) ensure that background check information is accessible to consumers.
The CFTC proposed a rule to require that futures commission merchants and swap dealers establish and maintain an "operational resilience framework" focusing on three components: information and technology security, third-party relationships and disruptions to standard business operations.
Federal Reserve Board Vice Chair for Supervision Michael S. Barr promoted incorporating "exploratory scenarios" to address limitations in the FRB's current stress test program for the U.S. banking system.