The Washington Report 360 will not be published for the next two weeks but will return January 6, 2023. Best wishes to everyone for Happy Holidays and a Wonderful New Year!
- Retail investor market structure. SEC proposes new rules and amendments that would significantly impact the retail investor market structure, including a Best Execution regulatory framework and changes to Regulation NMS for order execution, tick sizes, and order competition.
- Insider trading. SEC finalizes amendments to insider trading Rule 10b5-1, including new disclosure requirements.
- Nonbank financial firms. CFPB proposes rule to require nonbank financial firms to report agency and court orders to the CFPB.
- Financial Crimes. FinCEN proposes rule on access to and protection of beneficial ownership information (second in a series of three rulemakings).
- FSOC. Annual Report, highlighting recommendations to mitigate threats and vulnerabilities to financial stability in areas such as nonbank financial intermediation, digital assets, climate-related financial risk, treasury market resilience, cybersecurity, and transition from LIBOR.
- DOJ. “Landmark agreement” with a city and Police Department settles a discrimination lawsuit and ends a “Crime-Free” rental housing program.
|Financial services regulatory news|
|Financial services policy news|
Industry news headlines
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- Fed Raises Rate by 0.5 Percentage Point, Signals More Increases Likely (WSJ)
- Pandemic Loans Are Coming Due but Some Businesses Aren’t Ready to Repay (WSJ)
- New York City Delays Enforcement of AI Bias Law (WSJ)
- FSB ready for rapid rollout of global crypto standards (Financial Times)
- FASB Lays Out Disclosure Requirements for Companies’ Crypto Holdings Ahead of Potential Proposal (WSJ)
- FDIC nominees advance to full Senate (American Banker)
- Small California banks, credit unions face new overdraft disclosure rules (American Banker)
- Factbox: Big banks see global economy slowing more in 2023, with likely U.S. recession (Reuters)