Wall Street leaders have poured more than $9 million into groups supporting candidates in the race for New York’s next mayor, with most of the big money getting behind former presidential candidate Andrew Yang and Brooklyn Borough President Eric Adams. CNBC reviewed records of donations from leaders on Wall Street who contributed to organizations supporting New York’s Democratic mayoral candidates.
Securities and Exchange Commissioners (SEC) Hester Peirce and Elad Roisman are advocating the agency spend fewer resources on overhauling existing rules and more energy on crafting regulation for emerging areas — including digital assets.
New York failed to pass a measure that would limit cryptocurrency mining operations, but the bill is far from dead. The bill passed the New York state senate on June 8 and was sent to the state assembly for review. There, it was introduced but not voted on. Assembly legislators are expected to revisit the bill next session, which begins in January 2022.
Wall Street banks must speed up their efforts to stop using Libor, regulators said Friday, issuing one of their sternest warnings yet about abandoning the scandal-plagued benchmark. From Treasury Secretary Janet Yellen to Federal Reserve Chairman Jerome Powell, watchdogs made clear during a meeting of the Financial Stability Oversight Council that time is running out. The admonishment — coming from the heads of all of the U.S.’s most powerful financial agencies — marked a remarkably high-profile push to light a fire under banks including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc.
Now that most of the buy side offers investment products that have some kind of ESG slant—whether impact investment funds containing a mix of assets such as green bonds, or equities portfolios that screen out major polluters—funds are looking to differentiate themselves. To do so, it seems they are going to want increasingly specialized ESG data: more data on public companies to bolster ratings, and data on private and emerging markets, where disclosure is thin or non-existent.