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3 weeks ago | 
waterstechnology.com | Janice Kirkel
Acting Commodity Futures Trading Commission chair Caroline Pham has been using her time in the corner office to do some editing of the agency’s rulebook. The changes include repealing, withdrawing and consolidating no-action letters, guidance, staff advisories and relief issued since 2012. But lawyers and former regulators hesitate to call it a deregulatory push, saying that in a number of cases, rules made in the wake of the 2008 global financial crisis have simply become irrelevant. It became
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3 weeks ago | 
risk.net | Janice Kirkel
Acting Commodity Futures Trading Commission chair Caroline Pham has been using her time in the corner office to do some editing of the agency's rulebook. The changes include repealing, withdrawing and consolidating no-action letters, guidance, staff advisories and relief issued since 2012. But lawyers and former regulators hesitate to call it a deregulatory push, saying that in a number of cases, rules made in the wake of the 2008 global financial crisis have simply become irrelevant.
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1 month ago | 
centralbanking.com | Janice Kirkel
Tweet Facebook LinkedIn Save this article Send to Print this page Michelle Bowman, nominated to be the next vice-chair for supervision at the Federal Reserve, found herself playing defence before the US Senate Banking Committee as she refused to commit to testing the resilience of the nation’s largest lenders from an increase in tariffs.
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1 month ago | 
risk.net | Janice Kirkel
Commodity Futures Trading Commission attempts to encourage market participants to come forward with possible regulatory violations will not lead to a greater influx of self-reporting, say lawyers. "I frankly think that there will be no change at all," says Peter Malyshev, a partner at Cadwalader, Wickersham & Taft. On February 25, the CFTC published an advisory laying out the amount of credit it will give to firms for co-operating with it over possible infringements of its laws.
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1 month ago | 
centralbanking.com | Janice Kirkel |Christopher Jeffery |Daniel Hinge |Daniel Blackburn
Tweet Facebook LinkedIn Save this article Send to Print this page Jonathan Gould, the nominee for US Comptroller of the Currency who previously served as chief counsel for the agency, said at his March 27 confirmation hearing that he supports the OCC’s decision to drop reputational risk from supervisory examinations.
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1 month ago | 
risk.net | Janice Kirkel
Jonathan Gould, the nominee for US Comptroller of the Currency who previously served as chief counsel for the agency, said at his March 27 confirmation hearing that he supports the OCC's decision to drop reputational risk from supervisory examinations. Some US lawmakers claim regulators have used the idea of reputational risk to pressure banks into denying services to firms operating in cryptocurrency markets.
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1 month ago | 
risk.net | Janice Kirkel
A fast-track process to settle outstanding enforcement cases at the US Commodity Futures Trading Commission is not time-limited, the regulator has clarified, but priority will be given to firms that responded in the first two weeks after it was announced. The plan was highlighted by acting CFTC chair Caroline Pham at a Futures Industry Association conference in Florida on March 11.
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1 month ago | 
centralbanking.com | Janice Kirkel |Christopher Jeffery |Daniel Hinge |Daniel Blackburn
Recent comments by US Federal Reserve chair Jerome Powell have hinted at the possibility of internal friction within the nation’s central bank over regulatory policy. At a hearing before the House Financial Services Committee on February 12, Powell was asked whether the Fed needed a vice-chair for supervision – a role created by the Dodd-Frank Act. Powell responded that having a single person in charge of regulation had resulted in greater volatility in rulemaking than when all policymaking went
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1 month ago | 
risk.net | Janice Kirkel
Recent comments by US Federal Reserve chair Jerome Powell have hinted at the possibility of internal friction within the nation's central bank over regulatory policy. At a hearing before the House Financial Services Committee on February 12, Powell was asked whether the Fed needed a vice-chair for supervision - a role created by the Dodd-Frank Act.
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2 months ago | 
centralbanking.com | Samuel Wilkes |Janice Kirkel |Christopher Jeffery |Daniel Hinge
It took years of haggling and horse-trading. But just as the adoption of the latest Basel III capital standards draws tantalisingly close, senior bankers and former regulators are warning that one of the main goals of the new regime is in danger of failure. Basel III, we were told, was designed to improve the comparability of bank capital ratios. However, major differences in the way that countries have implemented the rules may have compromised this aim, fatally so. “It feels like comparability
