Washington Report 360 | March 25, 2022

Additional sanctions on Russia; SEC climate disclosure rules

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100

Key Highlights

  • Russia-Ukraine war risks. The Administration and OFAC announced that the U.S. and other countries agreed to expanded sanctions and controls against Russia entities and individuals; the Administration warned of cybersecurity risks. (See KPMG Regulatory Alert)
  • Climate risk. The SEC proposed rules that would require companies to disclose climate-related risk information including financial impacts, progress toward commitments and targets, risk management and governance, greenhouse gas emissions, and financial statement metrics. (See KPMG Regulatory Alert)
  • Mergers. Following an Executive Order that directed the federal banking agencies to review oversight of bank merger transactions, the FDIC has published a Request for Information seeking input on all aspects of the regulatory framework for merger transactions (laws, practices, rules, regulations, guidance, and policy).
  • Fairness. Thirteen agencies (including FRB, OCC, FDIC, CFPB, HUD, FHFA, NCUA) jointly released a final report on racial and ethnic biases in home valuations, providing an action plan with recommendations to address areas such as automated models (AVMs), data, and technology innovations.

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