- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-02-05T16:59:00
A key meeting of regulators has determined the recent spike caused by Reddit users for normally tame stocks like GameStop and AMC Entertainment has not had a significant impact on the market, which Treasury Secretary Janet Yellen termed “resilient.”
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Video game retailer GameStop, whose market volatility earlier this year led the so-called “meme stocks” craze, disclosed it is cooperating with an investigation launched by the Securities and Exchange Commission.
New SEC Chairman Gary Gensler discussed shortening the settlement period for trades and requiring new disclosures by broker-dealers as part of testimony before Congress regarding this year’s GameStop stock surge.
There were few surprises Tuesday during the Senate confirmation hearing for President Joe Biden’s nominations to lead the SEC (Gary Gensler, pictured) and CFPB (Rohit Chopra).
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.
