The Federal Reserve Bank and the Office of the Comptroller of the Currency fined a bank for failing to monitor firm and client trading activities.
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The Board of Governors of the Federal Reserve adopted new operational risk management requirements for systemically important designated clearing organizations.
Federal Reserve Board Vice Chair for Supervision Michael S. Barr reported that, going forward, the Federal Reserve plans to focus on supervision over fundamental risk management related to counterparty credit risk practices.
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."
Senate Banking Committee Chair Sherrod Brown urged Cameron Fowler, the CEO of Zelle, the instant payment platform co-owned by seven "Big Banks," to clarify the firm's policies protecting consumers from scams.