Gary Gensler, the new chair of the SEC, is provisionally endorsing the industry effort to shorten trade settlement time from T+2 to T+1 as evidenced by his recent testimony before the U.S. House Committee on Financial Services, overseen by Chairwoman Maxine Waters (D-CA). “I believe shortening the standard settlement cycle could reduce costs and risks… Read More >>
Congress to Mull Contentious Financial CHOICE Bill
The Republican-run House Financial Services Committee is putting forth the Financial CHOICE Act, the GOP’s sweeping alternative to the Dodd-Frank Act, which would take financial services reform in a direction more in line with the Trump administration’s goals. As the bill makes its way through Congress, some of the initial aspects of the bill, dubbed… Read More >>
Even the GOP Worries about TBTF
It only took six years but the Republicans have finally issued a response to the much-maligned Dodd-Frank Act, and there was a disturbingly familiar refrain amid the rants of the Republican chairman of the House Financial Services Committee, Texas Congressman Jeb Hensarling, who is the proponent of the GOP alternative. To recap, moving from the… Read More >>
House Financial Services Chair Offers Plan to Gut Dodd-Frank
The Republican chairman of the House Financial Services Committee, Texas Congressman Jeb Hensarling, has unveiled a plan to repeal the Dodd-Frank Act, which he has called a “grave mistake,” and replace it with the Financial CHOICE Act. CHOICE, in the Hensarling plan, is an acronym for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs…. Read More >>
An IT Veteran from UBS Joins DTCC as Congress Picks Top Posts for House Financial Services Committee
UBS IT Veteran Joins DTCC The Depository Trust & Clearing Corp. (DTCC) has hired an IT management veteran from UBS Christopher M. Behney as managing director, head of enterprise production assurance (EPA) and head of DTCC’s Dallas, Texas office, officials say. Behney will report to Robert E. Garrison, the managing director and chief information officer… Read More >>
