Federal Reserve Alert! Michael Held Resigns from the New York Fed

Source

NEW YORK – The Federal Reserve Bank of New York today announced that Michael Held has decided to step down from his role as General Counsel and Head of the Legal Group. He will be leaving the Bank in June 2022 and in the interim will move to an advisor role to help facilitate a smooth transition. YoonHi Greene and James Bergin, both Deputy General Counsel, will co-lead the group until a successor is named.

“For two and a half decades, Mike has been a dedicated public servant whose efforts have had a meaningful impact supporting the New York Fed’s mission,” said John C. Williams, President and Chief Executive Officer of the New York Fed. “With sound judgment and deep expertise, Mike has leveraged his leadership skills to better the work that we do and how we do it. I want to thank him for his impressive career and the legacy that he leaves behind.”

As General Counsel, Mr. Held has been a member of the Bank’s Executive Committee and has served as Deputy General Counsel of the Federal Open Market Committee.

“It has been an honor to work with such a talented and committed group of central bankers,” said Mr. Held. “I count myself lucky to have had the privilege to be part of this incredible team for as long as I have.”

During his tenure, Mr. Held advised the Bank’s senior leaders on a wide range of matters, including regulation and supervision of financial institutions, anti-money laundering and OFAC, corporate investigations, corporate governance and ethics, director responsibilities, and litigation. In addition, he developed the New York Fed’s first pro bono program and was an executive sponsor of the Financial Institutions Culture & Conduct initiative. He previously served as the Bank’s Corporate Secretary and has been a Deputy General Counsel in the Legal Group. Mr. Held joined the New York Fed in 1998 as a staff attorney.

The New York Fed will soon launch a search for Mr. Held’s successor.

EDIT: His bio is still up on the NY Fed page. Seems this was not planned/communicated ahead of time?

https://www.newyorkfed.org/aboutthefed/orgchart/held

Reddit Post

SEC: Robinhood Securities failed to comply with Regulation SHO, the regulatory framework designed to address abusive short selling practices.

The Securities and Exchange Commission (SEC) announced today that Robinhood Securities LLC and Robinhood Financial LLC, collectively known as Robinhood, have agreed to pay $45 million in civil penalties to settle a series of charges stemming from significant regulatory violations in their brokerage operations. According to the SEC, the firms

Hutchinson managed a team that are responsible for the agency’s supervision of derivatives clearinghouses and their members.

CFTC Announces Departure of Clearing and Risk Director Clark Hutchison, who will depart the agency January 15th.

CFTC Announces Departure of Division of Clearing and Risk Director Clark Hutchison The Commodity Futures Trading Commission (CFTC) has announced that Clark Hutchison, Director of the Division of Clearing and Risk, will leave the agency on January 15. Hutchison, who has held the position since July 2019, has played a

Bank Fail Friday! First National Bank of Lindsay, Lindsay, Okla., was closed today by the Office of the Comptroller of the Currency (OCC), which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

The Office of the Comptroller of the Currency (OCC) closed The First National Bank of Lindsay today, appointing the Federal Deposit Insurance Corporation (FDIC) as receiver. To safeguard depositors, the FDIC has entered into an agreement with First Bank & Trust Co. of Duncan, Okla., to assume the insured deposits