Finance

Mandating Climate Disclosures Could Violate SEC's 'Historically Agnostic Approach'
Finance
Mandating Climate Disclosures Could Violate SEC's 'Historically Agnostic Approach'
2021-07-21 20:28:30
by Daniel Mollenkamp

WASHINGTON- Writing rules that mandate climate disclosures might overstep the U.S. Securities and Exchange Commission's  authority, causing a violation of their historical approach to regulations, the agency's commissioner said on Tuesday.  Environmental disclosures are "inherently political" and are "unabashedly" designed... Read More

Fiduciary Duty Rules Need Clarifying Says Urban Institute
Think Tanks
Fiduciary Duty Rules Need Clarifying Says Urban Institute
2021-07-12 16:06:53
by Daniel Mollenkamp

WASHINGTON- The rich might be able save the world, but only if they focus on using their investments to change power dynamics, and they may need a little help from regulators, according to a new study from the Urban Institute.... Read More

SEC Appoints Grewal as Director of Enforcement
Regulation
SEC Appoints Grewal as Director of Enforcement
2021-06-30 19:10:43
by Brock Blasdell

The Securities and Exchange Commission announced Tuesday that Gurbir Grewal, New Jersey’s attorney general since 2018, has been appointed as the director of the Division of Enforcement.  “I’m honored and delighted to welcome Attorney General Grewal to the SEC,” Gary... Read More

SEC Approves Rule That Could Expose Short-Sell Positions
Finance
SEC Approves Rule That Could Expose Short-Sell Positions
2021-06-22 19:11:25
by Victoria Turner

WASHINGTON - The U.S. Securities Exchange Commission granted the accelerated approval yesterday of a rule change proposed by the National Securities Clearing Corporation related to its calculation and collection of supplemental liquidity deposits. The change would have both activities performed... Read More

G7 Ministers Reach Global Minimum Tax Agreement, But Some Say Deal is Too Minimal
Finance
G7 Ministers Reach Global Minimum Tax Agreement, But Some Say Deal is Too Minimal
2021-06-07 19:48:45
by Reece Nations

LONDON — Finance Ministers from the Group of 7 have struck a landmark agreement to establish a 15% global minimum tax rate, discouraging large multinational companies from shifting profits to offshore tax-havens. The deal, announced over the weekend, was struck... Read More

Could the U.S. Be Close to Creating a Digital Dollar?
Cryptocurrencies
Could the U.S. Be Close to Creating a Digital Dollar?
2021-05-12 12:48:34
by Kate Michael

WASHINGTON — While cryptocurrencies have dominated the news, another type of digital currency is being considered by the central banks of dozens of countries including the United States. Starkly different from crypto, these electronic currencies would have the full backing... Read More

Coinbase is Here: A Digital Currency Exchange Goes Public
Finance
Coinbase is Here: A Digital Currency Exchange Goes Public

Wall Street will be focused on Coinbase Wednesday with the digital currency exchange becoming a publicly traded company.  Coinbase is making its initial public offering of stock with cryptocurrency chatter seemingly everywhere, even at the U.S. Federal Reserve. It is... Read More

How Climate Change is Impacting Investment
Finance
How Climate Change is Impacting Investment
2021-03-23 20:47:24
by Victoria Turner

WASHINGTON - Emma Howard Boyd, chairwoman of the United Kingdom’s Environmental Agency, would like you to invest your pension in environmentally-friendly financial funds, she urged today during a Peterson Institute for International Economics event entitled, “Economic Impact of Climate Change.”... Read More

Blockchain Could Move Cryptocurrency to Pivotal Place in Economies
Finance
Blockchain Could Move Cryptocurrency to Pivotal Place in Economies
2021-02-12 20:55:07
by Reece Nations

Cryptocurrencies have the potential to decentralize systems of commerce across the world, leading to vast peer-to-peer markets absent of manipulation.   In order for this to come to fruition, Sheila Warren, head of data, blockchain and digital assets and member of... Read More

Federal Financial Regulators Assure Congress They Seek Minorities and Women in Workforce
In The News
Federal Financial Regulators Assure Congress They Seek Minorities and Women in Workforce
2020-09-09 16:32:36
by Tom Ramstack

WASHINGTON — Representatives from federal financial agencies defended their record on hiring women and minorities Tuesday while members of a congressional subcommittee accused them of an uninspired effort. “I’m not sensing that we’re making a lot of progress here,” said... Read More

A Seattle Police Officer’s Extraordinary Pay Raises Questions Department Can’t Answer
In The States
A Seattle Police Officer’s Extraordinary Pay Raises Questions Department Can’t Answer

SEATTLE — Seattle Police Officer Ron Willis was exceptionally busy in 2019 — so much so that he crammed the work of two years into just one. Willis, a 58-year-old patrol officer, made $414,543.06 last year — more than the... Read More

Senate Committee on Aging Reports on Financial Challenges Women Face
Aging
Senate Committee on Aging Reports on Financial Challenges Women Face
2020-08-20 15:35:05
by Gracie Kreth

WASHINGTON - United States Senators Susan Collins, R-Maine, and Bob Casey, D-Penn., the chairman and ranking member, respectively, of the Special Committee on Aging, released a report last week examining the challenges older women face preparing financially for retirement.  During... Read More

Supreme Court Holds SEC Can Recoup Money in Fraud Cases
Finance
Supreme Court Holds SEC Can Recoup Money in Fraud Cases
2020-06-22 16:45:01
by Dan McCue

WASHINGTON - With decisions in several high profile cases pending -- including one on whether President Donald Trump can shield his financial records from Congressional scrutiny --  the U.S. Supreme court on Monday opted to rule on a case with... Read More

NY Stock Exchange Reopens for First Time in Two Months
Finance
NY Stock Exchange Reopens for First Time in Two Months
2020-05-26 18:02:58
by Dan McCue

The trading floor of the New York Stock Exchange reopened Tuesday, and though it was largely seen as a symbolic first step toward economic recovery, the financial markets opened with a surge of optimism. In early trading, the Dow Jones... Read More

Ratings Agency Says Non-Bank Mortgage Lenders Face 'Intense' Liquidity Crunch
Economy
Ratings Agency Says Non-Bank Mortgage Lenders Face 'Intense' Liquidity Crunch
2020-04-03 16:44:54
by Dan McCue

WASHINGTON - The rating agency Moody's downgraded its outlook for non-bank mortgage lenders in the U.S. from "stable" to "negative" on Thursday, warning the industry faces "intense" liquidity problems due to the ongoing coronavirus outbreak. As previously reported in The... Read More

Burr Faces Lawsuit Over Sale of Up to $1.7 Million in Stock
Litigation
Burr Faces Lawsuit Over Sale of Up to $1.7 Million in Stock

CHARLOTTE, N.C. — Fallout continued this week over revelations that U.S. Sen. Richard Burr dumped up to $1.7 million in stock after private briefings about the coronavirus, including a personal lawsuit against him. Politico reported the shareholder suit against Burr... Read More

Warren Stand on Private Equity Under Scrutiny at House Hearing
Finance
Warren Stand on Private Equity Under Scrutiny at House Hearing
2019-12-06 21:36:54
by Dan McCue

WASHINGTON - Massachusetts Sen. Elizabeth Warren may score political points with the far left-wing of her party by vowing to rein in the ills of the private equity industry, but her proposals came under fire at a recent House Financial... Read More

Zuckerberg Threatened With Facebook Breakup
Congress
Zuckerberg Threatened With Facebook Breakup

WASHINGTON — Facebook CEO Mark Zuckerberg faced a threat to break up his company as a congressional hearing opened on the social media giant’s proposal to establish a cryptocurrency, Libra. The cryptocurrency proposal drew scrutiny due to Facebook Inc.’s enormous... Read More

Democrats Seek Insider Trading Probe After ‘Trump Chaos’ Article
Finance
Democrats Seek Insider Trading Probe After ‘Trump Chaos’ Article

WASHINGTON — Democratic lawmakers are increasingly demanding that U.S. authorities investigate allegations raised in a recent magazine article that traders might be using nonpublic government information to reap huge illegal profits, even as the exchange where the transactions purportedly took... Read More

Gottheimer Amendment to Help Senior Investors Passes House
Finance
Gottheimer Amendment to Help Senior Investors Passes House
2019-10-18 21:23:06
by Dan McCue

WASHINGTON - The House has passed an amendment offered on the floor by Rep. Josh Gottheimer that will ensure the U.S. Securities and Exchange Commission gives specific consideration to senior investors and the challenges they face. The amendment to H.R.... Read More

House Passes Bill Granting Marijuana Businesses Access to Banking
Economy
House Passes Bill Granting Marijuana Businesses Access to Banking
2019-09-27 20:59:45
by Dan McCue

WASHINGTON - The House passed a bill earlier this week that would grant legal marijuana businesses access to banking, resolving a longstanding challenge for the growing industry. The bill, called the SAFE Banking Act, passed 321-103 on the strength of... Read More

Top World Bank Official Tapped As New Chief at International Monetary Fund
Finance
Top World Bank Official Tapped As New Chief at International Monetary Fund
2019-09-27 20:51:34
by Dan McCue

WASHINGTON - Kristalina Georgieva, a Bulgarian economist and top World Bank official, has been named the new head of the International Monetary Fund. She succeeds Christine Lagarde who is stepping down to take over as head of the European Central... Read More

McHenry, Maloney Introduce Bipartisan Financial Transparency Act
Finance
McHenry, Maloney Introduce Bipartisan Financial Transparency Act
2019-09-27 20:41:31
by Dan McCue

WASHINGTON - Reps. Patrick McHenry, R-N.C., and Carolyn Maloney, D-N.Y., have introduced legislation to make financial data more easily available online and less opaque. McHenry, ranking Republican of the House Financial Services Committee, said with technology playing such a large... Read More

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