Articles by Ross Kerber and Pete Schroeder

SEC to Revisit ‘Proxy’ Voting Favored by Investors Raising Social, Climate Issues

The U.S. securities regulator is set to review this month rules on corporate democracy, setting it up for a clash with investors who worry the agency will side with companies to diminish voting rights on charged issues like climate change …

Wells Fargo Must Do More to Repay Cheated Auto Insureds, Says U.S. Comptroller

Wells Fargo & Co. has not convinced U.S. regulators it is doing enough to repay 600,000 drivers who were wrongly pushed into buying auto insurance, a leading bank regulator said on Tuesday. “We are not comfortable where we are with …

What Banks Got, Did Not Get in Dodd Frank Rewrite Passed by Congress

Congress on Tuesday rolled back some of the restraints imposed on banks after the 2007-2009 global financial crisis, but big players like Goldman Sachs, Morgan Stanley and JPMorgan Chase, will not be breaking out the champagne. While Wall Street banks …

SEC Updates Guidance on Cyber Disclosure by Companies

The U.S. Securities and Exchange Commission updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been targeted by hackers. The guidance also said company executives …

SEC Updates Guidance on Cyber Disclosure by Companies

The U.S. Securities and Exchange Commission on Wednesday updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been targeted by hackers. The guidance also said …

U.S. May Move to Regulate Virtual Currencies

U.S. regulators may ask Congress to pass legislation to improve oversight of virtual currencies like bitcoin amid concerns about the risks posed by the emerging asset class, the head of the Securities and Exchange Commission said on Tuesday. The comments …

U.S. Regulator Pulls Back from MetLife’s ‘Too-Big-to-Fail’ Designation

The U.S. government and MetLife Inc. announced on Thursday they would jointly seek to dismiss an appeal over whether the insurance company should face stricter oversight as a key part of the financial system. MetLife and the Financial Stability Oversight …

Senators Propose Heavy Fines for Credit Agencies Over Privacy Data Breaches

Two Senate Democrats are proposing large new fines for credit reporting agencies that lose consumers’ personal information in data breaches, according to a bill they introduced on Wednesday. The bill would impose potentially significant fines against companies like Equifax, TransUnion, …

Global Regulators Expected to Drop ‘Too Big to Fail’ Test for Insurers

Global financial regulators have decided to ditch a “too big to fail” gauge for assessing the riskiness of insurers, according to a source briefed on the matter, in a big win for companies such as American International Group and Prudential …

U.S. Consumer Bureau Offers Rules for Financial Data Collection

The U.S. Consumer Financial Protection Bureau is turning its attention to companies that collect consumer financial information to provide services and products. The regulator laid out a series of principles on Wednesday to establish its expectations for accessing consumer’s financial …