Commentary by Steven Lofchie
At a hearing before the Senate Committee on Banking, Housing and Urban Affairs, Treasury Secretary Janet L. Yellen testified on the Financial Stability Oversight Council's 2021 Annual Report to Congress.
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Commentary by Steven Lofchie
The CFTC proposed to amend the mandatory clearing requirement to remove LIBOR and other interbank offered rates and include risk-free rates such as SOFR.
In a response to a Request for Information, SIFMA urged the Department of Labor to continue using a principles-based approach to regulation and expressed concern that its proposed method for compliance with E.O. 14030 may deviate too far from that approach.
The SEC extended the comment periods for recently proposed rulemakings relating to climate disclosure, private fund advisers and exchange registration.
OFAC took a series of actions targeted at "individuals and entities critical to Russia's ability to wage war against Ukraine." In connection with these actions, OFAC published four new General Licenses, two new Executive Order Determinations and a set of FAQs.