FINRA provided guidance for members handling bank deposits, withdrawals and account balances held at Silicon Valley Bank, N.A. and Signature Bank, N.A.

The SEC proposed amendments to regulations on consumer financial privacy and information safeguards that would, among other things, require firms to implement written incident response plans and provide data breach notifications to customers.

In a Financial Institution Letter, the FDIC told counterparties and service providers to the recently failed Silicon Valley Bank, N.A. and Signature Bank, N.A. that (i) they remain obligated to the successor bridge banks of the two failed banks and (ii) they must meet their contractual obligations to the bridge banks.

The SEC proposed amendments to Regulation Systems Compliance and Integrity that would expand the scope of the regulation to cover, among other entities, large broker-dealers, as defined by various measures of size.

FINRA's Board of Governors approved a rule change to conform FINRA Rules to the SEC's T+1 settlement requirement.