Washington Report 360 | November 6, 2020

Federal Banking agencies released a paper on operational resiliency; DOL ERISA amendments; SEC highlights 2020 enforcement actions

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100

Key Highlights

  • Federal banking agencies released Sound Practices to Strengthen Operational Resilience covering governance; operational risk; business continuity; third party risk; scenario analysis; information systems; and surveillance and reporting.
  • DOL finalized amendments to require ERISA plan advisers to execute their fiduciary responsibilities based on financial factors rather than non-financial goals (e.g., sustainability fund goals). 
  • SEC Division of Enforcement highlights actions in FY 2020, addressing issuer disclosure and accounting violations; foreign bribery; investment advisory issues; securities offerings; market manipulation; insider trading; and broker-dealer misconduct.

Financial services regulatory and policy news


Capital markets

  • SEC:
    • Amended rules to “harmonize, simplify, and improve the multilayer and overly complex” exempt offering framework
    • Issued the annual report of the Division of Enforcement for fiscal year 2020
  • CFTC:
  • FINRA:
    • Published research finding that financial literacy is a significant indicator of positive future financial outcomes and behaviors


Industry news headlines

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