Washington Report 360 | November 18, 2022

Enforcements, Crypto Assets, Regulatory Authority.

On behalf of Regulatory Insights, wishing everyone a Happy Thanksgiving holiday. In observance of the holiday, the next WR360 will be issued on December 2.

Key Highlights

Enforcements. SEC FY 22 Enforcement Results; record number of actions (9 percent increase over the prior year), record fines (over $6.4 Billion).

Crypto Assets. SEC, DOJ, CFTC, and state regulators have launched investigations relating to the recent collapse of a cryptocurrency exchange platform; Banking regulators highlight crypto risks in Senate and House testimony; Treasury statement on crypto market developments; NYFRB feasibility study on a payment system for digital asset transactions; CFPB Complaint Bulletin analyzing crypto asset-related consumer complaints.

Regulatory Authority. CFPB filed a certiorari petition requesting that the U.S. Supreme Court review its fifth circuit ruling on the Bureau’s method of funding; Small business group filed a lawsuit with U.S. District Court to challenge the beneficial ownership implications of the Corporate Transparency Act. 

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Contact us 

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100