Sebastian Souchet

May 30, 2024 | findknowdo.com | Steven Lofchie |Simon Lovegrove |Sebastian Souchet

SEC Commissioner Hester Peirce recommended expanding the "Digital Securities Sandbox" proposed in a Bank of England and the Financial Conduct Authority consultation paper to include US domiciled firms and further cross border collaboration to facilitate innovation. The DSS would help the UK regulators explore whether distributed ledger technology ("DLT") could streamline the issuance, trading and settlement of securities.

May 17, 2024 | findknowdo.com | Tim Byrne |Sebastian Souchet

FDIC Chair Martin J. Gruenberg highlighted lessons drawn from the failures of Silicon Valley Bank ("SVB"), Signature Bank and First Republic Bank of California in 2023 as well as the steps the FDIC has taken since to avoid further bank failures.

May 16, 2024 | findknowdo.com | Eamonn K. Moran |Sebastian Souchet

In a 7-2 decision, the Supreme Court ruled that the CFPB's statutory funding mechanism satisfied the requirements of the Appropriations Clause of the Constitution. The Court considered whether the CFPB's funding mechanism, which draws directly from the Federal Reserve System an amount that its Director deems "reasonably necessary to carry out" the CFPB's duties, rather than through annual appropriations, was constitutional.

May 14, 2024 | findknowdo.com | Steven Lofchie |Daniel E. Meade |Sebastian Souchet

There is no little irony to the CRS quoting President Biden's statement that the United States should remain a leader in the international finance system, when one considers that the SEC and other agencies have put up roadblocks on the development of a regulatory framework for digital assets for the entirety of the President's administration.