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Azher Abassi, the Federal Reserve’s Executive Vice President Supervision + Credit and head of bank supervision in San Francisco, which had oversight of Silicon Valley Bank and First Republic, will retire effective October 31st.

His replacement starts October 1st. Sources: https://www.bloomberg.com/news/articles/2023-08-28/san-francisco-fed-supervision-chief-leaving-after-bank-failures#xj4y7vzkg https://www.reuters.com/article/usa-fed-san-francisco-supervision/san-francisco-feds-chief-of-supervision-to-retire-idINL4N3A99O8 https://www.marketwatch.com/story/san-francisco-feds-head-of-bank-supervision-to-retire-in-wake-of-silicon-valley-banks-collapse-43122a2c Interesting bits: Abbasi and San Francisco Fed President

Whistleblower Alert! SEC Awards Whistleblower More Than $18 Million. With the award 10%-30% of the fine levied, the fine for this infraction ranged between $60 million and $180 million.

Whistleblower Alert! SEC Awards Whistleblower More Than $18 Million. With the award 10%-30% of the fine levied, the fine for this infraction ranged between $60 million and $180 million.

It sure would be great to know more about leads to such a big fine! https://www.sec.gov/files/rules/other/2023/34-98219.pdf TLDRS: * SEC Awards Whistleblower More Than $18 Million. * With the award 10%-30% of the fine levied, the fine for this infraction ranged between $60

U.S. Department of the Treasury, IRS Release Proposed Regulations on Sales and Exchanges of Digital Assets by Brokers. OPEN for comment!

U.S. Department of the Treasury, IRS Release Proposed Regulations on Sales and Exchanges of Digital Assets by Brokers. OPEN for comment!

Source: https://public-inspection.federalregister.gov/2023-17565.pdf How to comment: * www.regulations.gov (use IRS and REG-122793-19 to identify your submission) * 60 days is October 28th, 2023 60 days is October 28th, 2023 Press Release: The U.S. Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS)

Wells Fargo Settles with SEC for overcharging more than 10,900 investment advisory accounts more than $26.8 million in advisory fees from 2014 thru December 2022.

Wells Fargo Settles with SEC for overcharging more than 10,900 investment advisory accounts more than $26.8 million in advisory fees from 2014 thru December 2022.

Wells Fargo agreed to pay a $35 million civil penalty without admitting or denying the SEC charges. https://www.sec.gov/files/litigation/admin/2023/34-98221.pdf Penalty? Admission of nothing, a censure, and $35 million fine Press Release: The Securities and Exchange Commission today charged Wells Fargo Clearing Services

Hester Peirce on the SEC's new rules for Private funds activity that is contrary to the public interest: "The rulemaking is ahistorical, unjustified, unlawful, impractical, confusing, and harmful. Accordingly, I cannot support it."

Hester Peirce on the SEC's new rules for Private funds activity that is contrary to the public interest: "The rulemaking is ahistorical, unjustified, unlawful, impractical, confusing, and harmful. Accordingly, I cannot support it."

Thank you, Chair Gensler. The rulemaking is ahistorical, unjustified, unlawful, impractical, confusing, and harmful. Accordingly, I cannot support it. I. Ahistorical Until last month, a giant white oak tree stood near where I live in suburban Maryland. Known as the Linden Oak, this 300-year-old tree had witnessed a lot of

Commissioner Hester M. Peirce on the SEC's new rule certain broker-dealers join FINRA for oversight: "Because today’s recommendation rejects a common sense approach, I cannot support it."

Commissioner Hester M. Peirce on the SEC's new rule certain broker-dealers join FINRA for oversight: "Because today’s recommendation rejects a common sense approach, I cannot support it."

Source: Thank you, Chair Gensler. Establishing a regulatory framework that is generally consistent across similarly situated firms is an objective that should inform our rulemaking process. Pursuing this objective, however, is not the same as seeking to impose regulatory uniformity for its own sake, particularly when there are alternative and

SEC Commissioner Mark T. Uyeda: "Today, the Commission seeks to impose rules for private funds – which are generally available only for sophisticated investors – that are far more burdensome and restrictive than those products for retail investors."

SEC Commissioner Mark T. Uyeda: "Today, the Commission seeks to impose rules for private funds – which are generally available only for sophisticated investors – that are far more burdensome and restrictive than those products for retail investors."

"I am unable to support today’s rulemaking." Source: Thank you, Chair Gensler. In the Commission’s ongoing fight against crypto assets, it argued in Terraform that “[w]hen distinguishing between classes of investors, courts construe the federal securities laws’ provisions to provide more—not less—protection to