Maxine Waters (D-CA), Chair of the House Financial Services Committee, called on the Federal Reserve Board, the FDIC and the OCC to "impose a moratorium on approving any large merger and acquisition application resulting in a banking entity that would have more than $100 billion in total assets."
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In a statement in support of longer comment periods during the rulemaking process, SEC Commissioner Hester M. Peirce explained that an open dialogue with the public is crucial to effective rulemaking.
In a joint statement, SEC Commissioners Hester M. Peirce and Elad L. Roisman criticized SEC Chair Gary Gensler's recently announced Regulatory Flexibility Agenda for, among other things, failing to "include any items intended to facilitate capital formation."
SEC staff determined that individualized written responses to proxy requests for no-action relief provide better clarity and transparency to shareholders and companies as to compliance with Securities Exchange Act shareholder proposal rules.
FINRA reached a settlement with six member firms for "failures to reasonably supervise early rollovers of Unit Investment Trusts, which caused customers to incur potentially excessive sales charges."