- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-09-14T12:56:00
President Joe Biden announced the nomination of three individuals to serve as commissioners at the Commodity Futures Trading Commission, including the naming of Rostin Behnam as the agency’s full-time chair.
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The Commodity Futures Trading Commission will feature its “most diverse set of commissioners in the agency’s history” after the Senate confirmation of four nominees—all women, and three women of color—to vacant board seats.
The Senate on Wednesday confirmed Rostin Behnam to be chairman of the CFTC, the same day President Joe Biden announced his intention to nominate two to Republican commissioner openings at the agency.
Dawn DeBerry Stump, one of only two active commissioners at the Commodity Futures Trading Commission, announced she will not seek another five-year appointment when her current term ends in April 2022.
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
