SEC Commissioner Mark T. Uyeda argued that companies must act to maximize shareholder value and not place the interests of investors subservient to private ESG interests.
Federal Reserve Board Governor Michelle W. Bowman criticized several recent banking proposals, calling on regulators to “appropriately calibrate and prioritize their supervisory and regulatory actions.”
Federal Reserve Board Governor Michelle W. Bowman criticized proposed new capital requirements for banks with more than $100 billion in assets, arguing that the increases were not supported by facts and analysis and could lead to reduced credit availability and increased cost of credit.
The OCC, the FDIC and the Federal Reserve Board finalized guidance for senior management of large banks on managing exposures to climate-related financial risks.
The SEC set an effective date of December 11, 2023 for rule amendments that prevent investment companies from adopting names that may mislead investors. The date was published in the Federal Register.