Politics | Clutch Group

News & Insights

Author of Yates Memo Fired

March 1st, 2017

Author of  Yates Memo Fired Recurring Theme:  Individual Accountability Summary Analysis:  Yesterday, President Trump acted to remove Acting Attorney General Sally Yates. Under the Obama Administration, Yates had served as Deputy Attorney General. During her tenure, she authored the Department of Justice’s ‘Yates Memo.’  The memo quickly attracted the attention […]

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Clinton Plans to Enforce Dodd-Frank, but Alleviate Burden on Smaller Players

September 12th, 2016

Recurring Theme:  Changing Regulatory Tide Summary Analysis:  Last week, Democratic Presidential Candidate Hillary Clinton discussed her plans to ease the regulatory burden on community banks. At this point in the presidential race, both candidates have promised some form of deregulation or reevaluation of regulations in the financial services sector. In […]

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Congress Claims Regulators Misused Bank Settlement Proceeds From RMBS

September 12th, 2016

Recurring Theme:  Transparency Summary Analysis:  In 2012, the Obama Administration formed the Residential Mortgage-Backed Securities (RMBS) Working Group, a federal and state oversight body, to investigate misconduct that contributed to the 2008 financial crisis.  The proceeds of resulting settlements were designed to support consumers harmed by the crisis. Four years […]

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Global Banks Elevate Passporting Concerns Post-Brexit

September 12th, 2016

Summary Analysis:  With little progress made to flesh out the terms of Brexit in advance of formal negotiations, the banking community has begun to express concern. In particular, global banks have lobbied United Kingdom (UK) Prime Minister Theresa May to maintain financial passporting rights even after the completion of Brexit. […]

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FCA Whistleblower Cases Down 20% in 2015

September 12th, 2016

Summary Analysis:  New figures document a considerable drop in the number of whistleblower complaints from 2014 to 2015 in the United Kingdom (UK). International law firm Pinsent Masons reported that Financial Conduct Authority (FCA) whistleblower cases fell from 1,367 in 2014 to 1,104 in 2015, representing a reduction of nearly […]

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UK Government “Stands Ready to Help” Banking Sector

September 12th, 2016

Summary Analysis:  United Kingdom Chancellor of the Exchequer Phillip Hammond convened a meeting with chairmen from several of the region’s top banks, including Lloyds, RBS, Standard Life, Santander Aviva, Barclays and HSBC, in an attempt to quell concerns about the impact of Brexit.  Hammond sought to reassure members of the […]

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A Tale of Three Speeches – Understanding the FCA’s Post-Brexit Strategy

August 18th, 2016

Clues to the FCA’s regulatory approach post-Brexit Since the Brexit vote there has been much debate over the future direction of financial services regulation in the UK.  Will the UK strike out on its own, shaping an independent, perhaps more bank-friendly, regulatory environment, or will it stay in harmony with […]

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With UK Preoccupied, CFTC Steps Up to Monitor Commodities

June 29th, 2016

United States (US) regulators are concerned that the frenzy created by Brexit will absorb increasing attention from United Kingdom (UK) and European Union (EU) regulators, so much so that market oversight might suffer. On June 27, 2016, the Commodity Futures Trading Commission (CFTC) convened a meeting of the Market Risk […]

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European Banks Lose Billions in Value after Brexit Results

June 24th, 2016

European Banks Lose Billions in Value after Brexit Results Summary Analysis:  European banks are already experiencing the impacts of the United Kingdom’s (UK) referendum to leave the European Union (EU).  Global markets have been down since the results of yesterday’s vote were released, with the British Pound falling to the […]

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Obama Continues DOL Fiduciary Debate with Veto

June 13th, 2016

Obama Continues DOL Fiduciary Debate with Veto Subject:  Market Transparency & Individual Accountability Summary Analysis:  This week, President Obama vetoed a resolution passed by Congress to amend the Department of Labor’s (DOL) definition of “fiduciary” according to the Employee Retirement Income Security Act (ERISA).  The definition was amended by recent […]

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GOP Proposes Dodd-Frank Alternative

June 7th, 2016

GOP Proposes Dodd-Frank Alternative Subject:  Changing Regulatory Tide Summary Analysis:  Ahead of scheduled remarks today at the Economic Club of New York, Representative Jeb Hensarling (R – TX), Chairman of the House Financial Services Committee, announced plans to propose an alternative framework for financial regulation. The new Republican-backed framework would […]

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DOJ Maintains Focus on Corruption

June 7th, 2016

DOJ Maintains Focus on Corruption Subject:  Market Transparency Summary Analysis:  The Department of Justice (DOJ) announced earlier this week that Daniel Kahn would become the permanent head of the Foreign Corruption Unit. Kahn had been serving as the acting head since Patrick Stokes was promoted in March.  Kahn will continue […]

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