- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-01-22T17:33:00
The commissioners of the Commodity Futures Trading Commission unanimously elected Democrat Rostin Behnam to serve as the agency’s acting chairman.
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Commissioner Allison Herren Lee has assumed the role of acting chair at the Securities and Exchange Commission while President Joe Biden’s nomination to lead the agency, Gary Gensler, awaits Senate confirmation.
Heath Tarbert, chairman and chief executive of the Commodity Futures Trading Commission, will step down from his post early next year while remaining on as one of the agency’s commissioners.
Brian Quintenz, one of five commissioners at the CFTC, announced he won’t seek renomination to a second five-year term and will depart the agency by the end of October.
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.
