House Financial Services Committee Chair Patrick McHenry (R-NC) and a bipartisan group of legislators asked banking regulators to clarify "through guidance and other actions" that an SEC Staff Accounting Bulletin, which describes how a custodian must account for digital assets, is not enforceable.
News & Insights
6 News Results
The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
The Office of the Comptroller of the Currency selected Sydney Menefee to succeed Rusty Thompson as Deputy Comptroller and Chief Accountant. Mr. Thompson will depart the OCC at the end of July.
FDIC Chair Martin J. Gruenberg warned against making significant changes to Dodd-Frank reforms.
Federal Reserve Bank of New York Senior Vice President Jeanmarie Davis emphasized the importance of collaboration among regulators, supervisors, and market participants to address systemic risks.