The White House has nominated a New Jersey Democrat to fill a commissioner vacancy on the five-person CFTC, which has been operating with only two members for some time. The nomination requires U.S. Senate confirmation. The nominee, Russ Behnam, is senior counsel to Michigan Democrat Debbie Stabenow, ranking member on the Senate Agriculture Committee, according… Read More >>
Reporter’s Notebook: The Trump Brand is a Hard Sell in Europe
[Editor’s Note: In his first major trip overseas, President Trump included a swing through Europe. Our correspondent in London, Lynn Strongin Dodds reviews the major moments of Trump’s trip and the impressions he left in his wake. The new president is clearly indicating that he represents a brash, new approach to international relations that could… Read More >>
Are Trump and Wall Street Breaking Up?
What is happening to the romance between Wall Street and President Donald J. Trump? Let’s start with the fact that Trump and Wall Street were not getting along during the 2016 presidential campaign. In fact, we reported that, at first, Wall Street resisted Trump’s charms even though some of his rhetoric must certainly have intrigued… Read More >>
CFTC, SEC Greenlight New Hires
With a growth agenda in mind, the Trump White House is moving to fill vacancies at the CFTC and SEC, left open since the end of the Obama administration. At the CFTC, White House officials announced that former fund manager Brian D. Quintenz of Ohio has been nominated a second time to be a CFTC… Read More >>
Senate Confirms Trump’s Pick for SEC Chairman
Despite opposition from some key Democrats, the U.S. Senate voted on Tuesday to confirm Walter J. “Jay” Clayton III, a former partner with the law firm Sullivan & Cromwell, as the next chairman of the SEC, succeeding Mary Jo White. White served as chair from April 2013 to January 20, 2017 when Donald Trump became… Read More >>
Trump Team Challenges SIFI Designation for Non-banks
The Trump Team is signaling that it is taking on aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and a key one, the “systemically important financial institution (SIFI)” designation stemming from Dodd-Frank is under review, according to a recent presidential memorandum to the secretary of the Treasury Department. The Trump team overseeing… Read More >>
Bharara Leaves Legacy of Taking on Titans
To say the least, Preet Bharara, the now-former U.S. Attorney for the Southern District of New York, had a tough weekend. As reported by major media outlets, the Trump administration via Attorney General Jeffrey Sessions on Friday asked 46, Obama-appointed federal prosecutors to resign. Among those on the list was Bharara, who pushed back and… Read More >>
Has the Fiduciary Rule Already Done Some Good?
Among the many executive orders being launched by the Trump Team is a major time-out for the so-called “Fiduciary Rule” that was slated to take effect via the Department of Labor (DOL) on April 10. The executive order from earlier this month will put enactment on hold for three months, and will require DOL officials… Read More >>
Trump Directive Could Help ‘CHOICE Act’
In what is turning out to be a pattern, President Donald Trump chose to issue major directives on a Friday, and in this case, he signed documents intended to repeal key areas of regulation of the financial services industry. The president hinted at what was to come later on Friday, Feb. 3, during remarks for… Read More >>
Wall Street Banks Push Back on Trump Travel Ban
President Donald J. Trump’s executive order banning people traveling to and from seven countries in the Middle East has had many ripple effects across many circles, including Wall Street. Yet, while the political ramifications have been explosive, the staffing and hiring impacts may turn out to be minimal for Wall Street firms, according to key… Read More >>
