financial regulation News

White House Seeks to Bring Financial Regulators Under Its Sway

The White House is stepping up its efforts to bring independent agencies — including the Securities and Exchange Commission and the Commodity Futures Trading Commission — under its control, requiring allies of President Donald Trump to approve all new regulations …

Trump Administration Dismisses Democratic FTC Commissioners

The Trump administration dismissed two Democrats on the US Federal Trade Commission on Tuesday, in the latest example of the White House asserting control over US agencies. The commissioners, Alvaro Bedoya and Rebecca Kelly Slaughter, were told of their dismissal …

Financial Stability Board Chair Targets Unknown Threats

The Financial Stability Board needs to commit more resources to identifying new threats while reviewing existing reforms for refinement, its chair said Sunday. Randal Quarles, who took over as chair of the FSB in November and is the U.S. Federal …

Fiduciary Rule Dies as Last Court Deadline Passes

The “fiduciary rule” is officially dead. The Labor Department rule, conceived by the Obama administration, was meant to ensure that advisers put their clients’ financial interests ahead of their own when recommending retirement investments. The rule’s fate was all but …

Clinton Was Urged to Back Reinstating Glass-Steagall Wall: Wikileaks

A longtime political adviser to Hillary Clinton last year urged her presidential campaign to support a new version of a law that separated commercial and investment banking to avoid antagonizing the Democratic Party’s progressive wing, according to emails published by …

Missouri Department of Insurance Announces New Financial Regulation Leadership

The Missouri Department of Insurance announced that two veteran financial regulators have been appointed to new positions for the start of 2014. Leslie Nehring was appointed acting chief financial examiner for the Division of Insurance Company Regulation and John Rehagen …

U.S. Regulators Urge Flexibility in Basel III Rules for Banks, Insurers

U.S. lawmakers and state financial regulators on Thursday called on federal officials to revamp proposed rules that would force financial firms to hold much more capital, asking them to consider the impact on small banks and insurance companies. U.S. bank …

Insurers Seek Separation from Banks for Systemic Risk Regulation

U.S. insurance company trade groups have sent a letter to President Obama requesting his assistance with G20 leaders in efforts to de-link insurers from the timelines for identification of globally systemically important financial institutions from the Financial Stability Board’s (FSB) …

Credit Raters Triggered Financial Crisis, Says Senate Report

Moody’s Corp. and Standard and Poor’s triggered the worst financial crisis in decades when they were forced to downgrade the inflated ratings they slapped on complex mortgage-backed securities, a U.S. congressional report concluded on Wednesday. In one of the most …

Best’s Special Report Analyzes EU’s Solvency II Impact on Ratings

A report from A.M. Best Co. provides a timely analysis of the fast approaching implementation of the European Commission’s long-awaited Solvency II insurance regulations, which are now scheduled to come into force as of for January 1, 2013. Best noted …