SEC Concedes, Drops MMF Swing Pricing
In a startling bow to industry comments, the SEC today finalized MMF rules for institutional prime and tax-exempt funds that dispense with the proposal’s swing pricing (see FSM Report MMF19).
HFSC Bickers Over ESG, SEC Authority, Investor Rights
Today’s ESG hearing was the partisan show-down we anticipated – indeed, Rep. Sherman (D-CA) denounced the GOP for “waging war” against capitalism like Leon Trotsky.
Fed Nominations Advance
As anticipated, Senate Banking today approved the nominations of all three Federal Reserve Board nominees for the full Senate.
Warren Heightens Anti-Merger Campaign
Republicans were absent today from Senate Banking’s Economic Policy bank-merger hearing. Chair Warren (D-MA) reiterated her strong opposition to virtually all mergers, indicating her plans to reintroduce anti-merger legislation from prior Congresses (see FSM Report MERGER8).