Investments

Broker-dealers, investors and clearing companies, among others, will have to upgrade their operations and technology to meet SEC regulations.

A U.S. senator claims that proposed new rules would allow bank supervisors to oust bank executives over things as vague as "climate risk" standards.

The Wildflower Foundation is seeking to raise $10 million for its Sunlight Loan Fund, which supports teachers who want to provide broader access to Montessori education. U.S. Bank recently closed on the inaugural commitment to the fund.

The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.

Next week, the House Financial Services Committee will discuss bank regulator oversight bills, including one that would remove the Federal Reserve's Vice Chairman for Supervision position.

The plaintiff that brought the case on behalf of the state says the banks inflated interest rates through a private, invitation-only VRDO index that influenced SIFMA's weekly index.

The Securities and Exchange Commission and the Federal Reserve have questioned prime brokers about the basis trade as well.

Resetting allows CLOs to essentially cut the costs at which they borrow, leaving more money for holders of the riskiest and highest-returning part of the structure, the equity portion, after other note holders have been paid.

Citigroup executive Jay Collins says the company is "absolutely interested" in arranging new deals in the market for debt-for-nature swaps, which allow countries to restructure their debt in exchange for promises to protect the environment.

A recent breakthrough transaction demonstrates the promise of credit union sub-debt offerings for investors looking to enter the ESG space.