The Treasury Department reported on the state of AI-cybersecurity risk and recommended that financial institutions broaden risk management and cybersecurity practices, consider greater integration of AI solutions into cybersecurity practices and collaborate on threat information sharing.
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FINRA adopted amendments to provide margin relief for specified index option positions, referred to as "protected options."
Two affiliated broker-dealers settled FINRA charges for lacking reasonable cybersecurity controls at branch offices. The failures resulted in multiple incidents that exposed thousands of customers' personal information.
The CFTC Global Markets Advisory Committee advanced recommendations on: (i) the use of U.S. Treasuries as margin collateral, (ii) the securities market's move to T+1 securities settlement and (iii) a digital asset taxonomy.
The Chamber of Commerce, the American Bankers Association, the Consumer Bankers Association and two Texas business groups challenged the CFPB on the recently adopted final rule restricting credit card penalty fees.