Senate Banking Committee Chair Tim Scott urged businesses and individuals who have been "debanked"—the process of banks closing accounts over perceived regulatory, legal, financial, or reputational risks—to report allegations to Committee staff.
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The SEC rescinded Staff Accounting Bulletin No. 121, which required firms that provide custody for crypto-assets to include them as liabilities on their balance sheets.
A broker-dealer settled FINRA charges for failing to establish adequate supervisory procedures to monitor its registered representatives' outside brokerage accounts.
The Government Accountability Office analyzed the actions taken by the FDIC, the Federal Reserve and the Treasury to invoke the systemic risk exception during the March 2023 failures of Silicon Valley Bank and Signature Bank.
The Basel Committee on Banking Supervision, the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions published final policy proposals aimed at improving transparency and responsiveness in centrally cleared markets.