Several industry associations commented on the SEC mutual fund disclosure framework.

Federal Reserve Bank of New York Executive Vice President Kevin J. Stiroh expressed concern about the risks associated with the increasing homogeneity of the business models of the largest U.S. financial firms.

The New York State Department of Financial Services granted a virtual currency license to the "first and only" company operating Bitcoin teller machines in New York.

The SEC Office of Investor Education and Advocacy described the risks and benefits of variable life insurance.

CFTC Commissioner Rostin Behnam called on the agency to consider new initiatives to deal with the role of technology within the scope of CFTC regulatory and supervisory structures. In remarks at the ASIFMA 2018 Conference, Mr. Behnam asserted that regulation creates "necessary friction" during the development stages of innovation to guarantee that processes and products satisfy established standards before being introduced to the public and financial networks. He criticized the United States' regulatory FinTech agenda for being overly enforcement-driven, saying that enforcement actions do not