Washington Report 360 | May 27, 2022

SEC to change the Fund Names Rule, enhanced disclosures for ESG investment; OCC speech on cryptocurrency

Key Highlights

SEC: Proposals to change the Fund Names Rule, and enhanced disclosures for ESG investment practices (See KPMG Regulatory Alert here)

OCC: Speech on vulnerabilities, volatility with cryptocurrency (See KPMG Point of View here)

Financial services regulatory and policy news
SEC	Proposals to change the Fund Names Rule, and enhanced disclosures for ESG investment practices Charges against an investment adviser for ESG misstatements and omissions New Director of the Division of Examinations Speech on resolving the lack of audit transparency
CFTC	“Block Trade” definition compliance beginning May 25 Staff roundtable on non-intermediation Renewed temporary no-action relief
FINRA	Report from May 2022 Board of Governors Meeting TRACE Reporting requirements
FRB	Report on Economic Well-Being of U.S. Households
OCC	Speech on vulnerabilities, volatility with cryptocurrency
FDIC	2022 Risk Review Report
CFPB	Consumer Financial Protection Circular on adverse action notices and black box algorithms New Office of Competition and Innovation Action against a debt collection enterprise Blogs on credit card payment data and nonbank supervision
FTC	Charged, with DOJ, a company for deceptively collecting and using consumer data Webinar on spotting and avoiding scams, identity theft, and impersonators
FinCEN	Speech on Cryptocurrencies and National Security
BIS	Report on Central banks tackling private debt build-up in the wake of the pandemic FSI paper on Diversity and Inclusion

Financial services policy news
White House	Fact sheets on investments in Overburdened and Underserved Communities, and Advancing Equity Through the American Rescue Plan Progress Report on Environmental Justice
Senate	Confirmed FHFA director
House FS Committee	Hearings on reauthorization and reform of the National Flood Insurance Program and Digital Assets and the Future of Finance
DOJ	New policy for charging cases under the Computer Fraud and Abuse Act

Industry news headlines

(Some links may require subscription)

Crypto Should Meet Same Norms as Regular Finance, G7 Says (Coindesk)
Study shows digital banking alternatives catching on (Westfair Business Journal)
Insurance Providers Rethink Their Approach to Crypto (WSJ)
FASB to Tackle Rule-Making on Accounting for Environmental Credits (WSJ)
Nasdaq, NYSE Lose SEC Market Data Infrastructure Rule Challenge (Bloomberg)
New DOJ policy gives greater freedom to good-faith hackers (American Banker)

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Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100