US regulators working on climate change guidance for banks

Large US banks should soon receive regulatory guidance on managing climate risk, said acting comptroller of the currency Michael Hsu on September 15. 

Bank involvement in digital assets could impact their credit ratings

Digital assets, such as cryptocurrencies, are set to become embedded into the US financial landscape, according to Fitch Ratings, which warned of compliance, operational, fraud and security risks for banks involved in the sector with potential implications for their credit ratings. 

SEC whistleblower programme hits $1bn in awards

Following a total $114m pay-out to two informants, the US Securities and Exchange Commission’s (SEC) whistleblower programme has hit a milestone, having paid out $1bn in awards. 

Gary Gensler 2021

SEC warns Coinbase over proposed yield product

The US Securities and Exchange Commission has threatened to sue crypto exchange Coinbase if it launches its planned lending product

FDIC announces tech sprint to analyse resilience of US banks

On August 16, enrolment for a tech sprint, likely to last two to three weeks, was announced by the Federal Deposit Insurance Corporation (FDIC) to figure how resilient the banking sector is to major disruptions. 

Fitch Ratings warns banks over systemic cyber events

Cyber attacks are a material risk for US banks as an incident can have many repercussions well beyond the immediate remediation measures and even spread to other banks with potentially devastating consequences.

Yvette Valdez

US crypto regulation starts to take shape

There are tentative signs that US policy-makers might be edging towards creating a more predictable regulatory environment for crypto, but hurdles remain and there is still concern that some of the eventual rules may prove damaging.

Online trading platforms potentially face greater regulation

The Securities and Exchange Commission (SEC) is requesting feedback on practices by some online trading platforms designed to keep customers trading.

FINRA finds broker-dealers gravitating towards cloud computing to improve efficiency

Broker-dealers have taken a variety of approaches in terms of their use of cloud computing as they seek to improve their efficiency and flexibility, said the Financial Industry Regulatory Authority (FINRA) in a report. 

Mellissa Duru

Nasdaq-listed firms to meet board diversity targets

Firms listed on the US’s second largest stock exchange, the tech-heavy Nasdaq, will be subject to binding gender and diversity targets, which could potentially see a shake-up in the boards of some companies.