Senate Banking Committee Chair Sherrod Brown (D-OH) pressed Treasury, the SEC and the CFTC to take further action to remedy disclosure deficiencies associated with digital asset tokens and digital asset platforms.
News & Insights
House Financial Services Committee Chair Patrick McHenry (R-NC) and Chair of the Subcommittee on Oversight and Investigations Bill Huizenga (R-MI) criticized the SEC's response to requested information on the recent enforcement action against FTX founder and former CEO Sam Bankman-Fried.
Senator Catherine Cortez Masto (D-NV) reintroduced a bill to amend the Consumer Financial Protection Act of 2010 to provide greater incentives and protections to whistleblowers.
U.S. President Joseph R. Biden urged Congress to "impose tougher penalties for senior bank executives whose mismanagement contributed to their institutions failing." He is expected to announce Administration actions to address the financial fallout of the recent bank failures today.
House Republicans Jim Jordan (R-OH), James Comer (R-KY), Patrick McHenry (R-NC) and Tom Emmer (R-MN) criticized the SEC for "aggressively" enforcing recordkeeping laws on private businesses. The representatives found such enforcement "curious" given the agency's own failures to comply with federal transparency and recordkeeping laws.