Insight

Washington Report 360 | January 21, 2022

FRB published a CBDC paper; DOJ/FTC focus on anticompetition; CCC Climate Risk Range of Practices Questionnaire.

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100

Key highlights:

  • Cryptocurrency. FRB published its research paper on the potential benefits, risks, and policy considerations of CBDCs. FINRA indicated it may enhance disclosure requirements for broker-dealers that sell cryptocurrencies and digital assets. SEC reiterated the hope to bring cryptocurrency trading platforms under SEC oversight in 2022.
  • Updating/modernizing regulations. SEC outlined guiding principles for updating regulations in 2022: driving efficiencies in the capital markets (through competition and transparency), and modernizing rules to adapt to new technology and business practices (such as predictive analytics and AI, and investor demand for climate, human capital, and cyber risk disclosures).
  • Fairness and competition. DOJ and FTC are jointly seeking input on ways to detect and prevent anticompetitive merger transactions.
  • Climate risk. OCC provided notice it is seeking to extend the collection of information under its Climate Risk Range of Practices Questionnaire for large banks
 

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