Jelena McWilliams sworn in as the 21st FDIC chair

Trump appointee Jelena McWilliams formerly replaces Martin Gruenberg as chair of the FDIC

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.

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