Commentary by Steven Lofchie
FINRA reminded firms of their obligation to maintain a sufficient supervisory system for activities outsourced to third-party vendors. FINRA highlighted exam findings and examples of disciplinary actions arising from supervisory lapses.
The FDIC is seeking information from supervised institutions "regarding the FDIC’s supervisory approach to examinations during the pandemic, including on-site and off-site activities, use of technology, and communication methods."
The FTC recommended that the Federal Reserve Board adopt and expand proposed clarifications to debit card interchange fees and routing rules.
SEC Division of Enforcement Chief Counsel Joe Brenner is leaving the SEC.
The Cabinet Regulatory Tracker is a list of comment deadlines, effective dates and expiration dates.