CFTC Commissioner Summer K. Mersinger asserted that the Basel III Endgame Proposal, if adopted, would have a significant negative impact on derivatives markets.
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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.
Republican members of the House Financial Services Committee urged banking regulators to withdraw their Basel III Endgame proposal. The legislators argued that, as issued, the proposal "lacks justification, lacks rigorous quantitative analysis, and is procedurally flawed."
A firm settled FINRA charges for failing to maintain minimum net capital and for failing to file same-day notifications of its net capital deficiencies.
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.