The Treasury Department imposed new sanctions designating individuals and entities for undermining democratic freedoms, violating human rights, and enabling corruption in Belarus.

The Interest Rate Benchmark Reform Subcommittee of the CFTC Market Risk Advisory Committee selected December 13, 2021 as the date for switching interdealer trading conventions for U.S. dollar newly executed cross-currency derivatives from LIBOR to SOFR.

Based on two new research reports, the CFPB will increase supervision of banks that are heavily reliant on overdraft fees and "will be taking action to restore meaningful competition to this market."

NFA reminded CPOs and CTAs that failure to affirm an active exemption from registration will result in the exemption being withdrawn on March 2, 2022.

The Federal Financial Institutions Examination Council added one section and updated three sections along with their respective examination procedures in its Bank Secrecy Act / AML Examination Manual.