SEC Launches Broad-Scope Review of Digital Brokerage
SEC Chairman Gensler today announced in a Reuters exclusive that the agency will very shortly issue a “sweeping” consultation on digital-engagement practices.

SF Fed: Ultra-Low Rates Accelerate Bank-Profit Woes, Disintermediation
The San Francisco Fed today released a staff letter concluding that ultra-low and negative monetary-policy rates exacerbate the adverse impact on bank profitability and financial intermediation when rates drop further due to the effective zero lower bound on household-deposit rates.

Daily082421.pdf