House Financial Services Committee Chair Patrick McHenry (R-NC) and Vice Chair French Hill (R-AR) requested detailed information from FDIC Chair Martin J. Gruenberg and Treasury Secretary Janet L. Yellen on the decision to invoke the "systemic risk exception" to resolve the Silicon Valley Bank and Signature Bank failures.
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A broker-dealer settled FINRA charges for failing to timely review a request to engage in an outside business activity ("OBA") involving the sale of a security.
Treasury Secretary Janet L. Yellen highlighted the federal government’s “swift response” to the failure of Silicon Valley Bank and Signature Bank.
In a working paper titled "Digital Currency and Bank Sector Stability," the Office of Financial Research found that when banks face financial friction, a central bank digital currency and other types of stablecoins would likely contribute to financial instability and increase the chances for banking sector crises and financial system distress.
The SEC filed a complaint against a crypto asset entrepreneur and his wholly-owned companies for (i) unregistered trading of crypto asset securities, (ii) manipulative trading practices and (iii) creating a publicity campaign for his crypto securities without disclosing that the celebrities involved were being compensated.