December 16, 2022
Top Lines The Financial Stability Oversight Council (FSOC) released its 2022 Annual Report. The report reviews financial market developments, describes potential emerging threats to U.S. financial stability, identifies vulnerabilities in the financial system, and makes recommendations to mitigate those threats and vulnerabilities. The House Financial Services and Senate Banking Committees held hearings following the FTX […]
Roundup: November 29 – December 16, 2022
Sanctions Watch Roundup: November 29 – December 16, 2022 December 16, 2022 Bottom Line Up Front Russia and Iran will continue to dominate the sanctions landscape, while sanctions actions targeting China and related activities will likely be issued at a steady pace. The Administration’s anti-corruption efforts will likely increase over the next year after the number […]
December 9, 2022
Top Lines The Securities and Exchange Commission (SEC) released new guidance requiring companies that issue securities to disclose to investors their exposure and risk to the cryptocurrency market. Following the demise of crypto exchange FTX, staff within the SEC’s Division of Corporation Finance called on issuers to evaluate their disclosures and consider whether there is […]
Max Sherman
Max designs and operationalizes strong and sustainable partnerships between fintechs and banks. He brings practical experience having served within a fintech partner bank, evaluating and onboarding fintech products including cards, lending, and small business banking. He brings a depth of expertise in consumer compliance, financial crimes, and third party risk management in particular. Max was […]
December 2, 2022
Top Lines The U.S. Department of the Treasury published a report entitled “Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets.” This report specifically compares and contrasts new entrant non-bank firms with insured depository institutions and examines their effect on competition and services provided within the financial sector. Weekly Wrap […]
Roundup: November 11 – November 28, 2022
Sanctions Watch Roundup: November 11 – November 28, 2022 November 28, 2022 Bottom Line Up Front The G7’s attention has been and will continue to be focused on operationalizing the Russia oil-cap leading up to the implementation of the EU’s sanctions on Russia’s oil and related services sector. The Administration has continued to increase sanctions […]
November 18, 2022
Top Lines The House Committee on Financial Services held an oversight hearing of prudential regulators including the Board of Governors of the Federal Reserve System (the Fed), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the OCC. The leadership of these prudential regulatory agencies testified before the Committee and discussed […]
November 11, 2022
Top Lines Two notable events dominated headlines this week: the U.S. midterm elections and the downfall of and fallout surrounding FTX International (FTX), the global crypto asset trading platform, and its affiliated companies. Essentially, following the announcement last week that $500 million in FTX’s native crypto asset FTT would be liquidated after a leaked balance […]
November 4, 2022
Top Lines The Consumer Financial Protection Bureau (CFPB) announced that it will re-open the comment period for public input on big tech payment platforms for 30 days and add additional questions. The Federal Reserve Board invited public comment on a proposal to publish a periodic list of depository institutions that have access to Federal Reserve […]
Roundup: October 22 – November 4, 2022
Sanctions Watch Roundup: October 22 – November 4, 2022 Bottom Line Up Front The Biden Administration increased their targeting of Iranian networks, particularly those linked to Russia. After issuing a number of significant Russia-related designations and expanding sanctions or other restrictive measures to both Russia and China, Administration activities were relatively subdued during this reporting period. The level […]