Trump appointee Jelena McWilliams formerly replaces Martin Gruenberg as chair of the FDIC
Americas
US agencies pass rules to shorten settlement cycle
US agencies pass rules to shorten securities settlement cycle bringing it inline with industry standards.
Trump nominates Elad Roisman as SEC commissioner
Elad Roisman nominated by President Trump as commissioner at the SEC
Fourteen firms get deadline extension on resolution plans
Fed and FDIC give 14 firms a one-year extension to file their resolution plans.
SEC’s top priorities are innovation and protecting investors
SEC seeks feedback on its draft plan establishing its priorities out to 2022, which includes protecting investors and being innovative
Transforming bank cultures takes years says Fed president
A US Fed president says instituting good banking cultures is a multi-year task and maintaining them requires ongoing work
Clear cultural mission essential so firms can deal with grey areas
SEC chairman Jay Clayton says financial firms must have clear goals regarding their corporate culture if they are to successfully address potential grey areas and improve it
Mixed results for banks following toughest US stress test so far
The 35 banks participating in this year’s US stress tests were hit by theoretical rising credit card loans going bad and the real effects of recent accounting changes while some of the banks' capital plans were challenged.
Fed taking deeper interest in banks’ use of machine learning
The US Federal Reserve is looking at how the financial services industry uses machine learning to see if it needs to alter its regulatory approach
SEC commissioner Piwowar sends letter of resignation
SEC commissioner Michael Piwowar tends resignation, noting much has been done for the “forgotten investor”. Justin Pugsley reports.
