While potential changes to U.S. banking regulations are underway, the German exchange operator Deutsche Boerse advised the United States to proceed with caution in order to avoid another financial crisis.
Last week, President Trump signed an executive order that set into motion future changes to banking regulations. While these changes won’t be revealed for some time, there is speculation what those changes could entail and how they could potentially affect the banking industry.
Today, President Trump will sign two executive actions that will begin the work of overhauling banking regulations enacted after the 2008 economic meltdown. Regulations, like the 2010 Dodd-Frank Wall Street reform law, that the new administration has deemed as burdensome on financial services firms and consumers.
The recent confirmation hearing for Treasury Secretary nominee Steven Mnuchin as well as his written answers to questions after the hearing revealed much about his views and intentions for the banking industry if confirmed.
When reviewing shareholder activism in the United States in 2016, members of Olshan Frome Wolosky’s activist and equity investment group considered it “another very strong year.” And the same members predict that 2017 will be “another banner year for activism, with a few twists and turns.”
Topics: Shareholder Activism
We’re starting up the blog year with startup news: Amazon “quietly acquired” the cybersecurity firm harvest.ai for approximately $20 million.
When you think of an entrepreneur, who comes to mind? The popular image of a young genius clad in a grey hoodie, toiling away in a dorm room is inaccurate, says CNBC. The reality is, “[i]ndividuals turn to entrepreneurship throughout their lives.”
The online report points to First Round’s recently released results from its 2016 survey, “State of Startups.” More than 700 founders responded, revealing a wealth of information. Highlights include:
While Tesla’s cars can accelerate from zero to 60 miles per hour in mere seconds, the company’s communication with the Securities and Exchange Commission over its accounting took months.
According to a Market Watch report, after Tesla filed a joint proxy statement and prospectus announcing its proposed acquisition of Solar City Corp on Aug. 31, the SEC reached out regarding the company’s accounting. Several letters between the SEC and Tesla’s lawyers overseeing the acquisition, five amendments to the original registration filing and at least one conference call followed. As the report cleverly states, the company got the memos, but not the message.
This Thanksgiving, the chance of President-elect Trump’s victory dividing some tables is high. By contrast, banks large and small are now fairly united in their optimism for the new administration.The New York Times recently reported that while small banks only first cheered Trump’s win, big banks have followed. Both are benefiting from expectations that regulations will be rolled back on aspects ranging from banks fees to lending rules. They’re also looking forward to potentially higher interest rates under the proposed stimulus package. But, as the Times points out, the President-elect’s position on the banking industry has been conflicting at times and details of his plans aren’t yet crystal clear.
As millions across the United States prepare to exit their homes for Thanksgiving travel, four major U.S. banks are making their own preparations to leave London when Brexit takes effect.