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After Archegos, family offices are girding themselves for the possibility of tougher regulation.
Some family offices are coordinating with one another on how they can avoid new scrutiny.
The new administration s regulators were already expected to reassess family-office guidelines.
Family-office insiders learned of Archegos existence only when its implosion made international headlines, a rarity in the exclusive community where secrecy is often prized and kept.
Several told Insider they regarded Archegos Capital Management as a family office in name only it operated more like a hedge fund, many observers said. The fallout has brought unwelcome attention to their largely unregulated industry, and most have no interest in dissecting what went wrong or how to pre
First Financial Bancorp Announces First Quarter 2021 Financial Results
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
First Financial Bancorp Announces First Quarter 2021 Financial Results
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
IAA Endorses Adviser Diversity and Inclusion Data Act
The full title of House Resolution 2123 is the Diversity and Inclusion Data Accountability and Transparency Act; among other goals, it seeks to require regulated financial firms with more than 100 employees to disclose diversity data.
This spring, U.S. Representatives Joyce Beatty, D-Ohio, and Nikema Williams, D-Georgia, introduced House Resolution 2123, which they titled the “Diversity and Inclusion Data Accountability and Transparency Act.”
Beatty, who is the chairwoman of the House Financial Services Subcommittee on Diversity and Inclusion, said they introduced the bill in order to amend Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act to require regulated financial firms with more than 100 employees to disclose diversity data. Williams and Beatty said passage of the “D&I Data Act” would enhance transparency and accountability in the financial services industry, while creating a more inclu
Tuesday, April 20, 2021
On 19 April 2021, the House of Representatives passed the “Secure and Fair Enforcement (SAFE) Banking Act of 2021”
1 by a vote of 321-101. The bill was approved on a significantly bipartisan basis as 106 Republicans (approximately 50 percent of the caucus) joined 215 Democrats in favor. In 2019, a similar version of the legislation passed the House of Representatives by a vote of 321-103, including 91 Republicans in favor (only 46 percent of the caucus).
The significant increase in Republican support coincides with the growing trend of legalization of medicinal and adult-use cannabis products at the state level over the last two years. Since the bill was first passed, seven states have legalized adult-use cannabis.