In light of positive developments in Burundi's circumstances and political atmosphere, President Joe Biden terminated an Executive Order which authorized sanctions on Burundi on 2015.
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Federal Reserve Board Governor Christopher J. Waller advocated for strong regulatory oversight of stablecoins through a combination of "robust, consistent supervision and regulation and appropriate public backstops," but criticized the approach recommended by the President's Working Group on Financial Markets.
Senior policy-makers and market participants described continuing efforts to support firms that have yet to transition from LIBOR to new benchmark rates, and raised ongoing challenges posed by legacy contracts and "synthetic" LIBOR, among others.
The SEC proposed amendments to its rules governing proxy voting advice to address investor concerns that existing rules (i) "impede and impair the timeliness and independence of proxy voting advice" and (ii) increase litigation risks and compliance costs.
SEC Chair Gary Gensler and Treasury Under Secretary Nellie Liang commented on potential changes to Treasury market oversight at the U.S. Treasury Market Conference.