Americans for Financial Reform Education Fund and the Communication Workers of America sent a letter to the Securities and Exchange Commission urging that the Commission close critical loopholes and exemptions that currently exist in its Forms 13-F and 13-D reports that have been intentionally exploited by hedge fund investors. By doing so, hedge funds can no longer utilize derivatives and other complex financial instruments to build large positions and ambush the management of companies.
AFREF published a fact sheet about deregulation at the Powell Fed.
The Federal Reserve has announced the results of its 2021 bank stress tests. Since then, these results have led a steady parade of the largest banks in the country to announce dramatic increases in dividends. The stress tests will also enable greater share buybacks and other capital distributions by banks. This will enrich senior executives and large shareholders, while putting financial stability at risk.
Letter to the Administration: Letter Calling for Faster Pace in Appointing Financial Regulatory Positions
AFR sent a letter urging the Biden Administration to take a faster pace in filling key regulatory and financial policy positions. The letter calls out how the Administration’s slow pace in these appointments has undermined its racial justice and climate change agendas.
Letter to Regulators: The Fed must recognize its own regulatory failures and take action in the wake of Archegos
Americans for Financial Reform Education Fund wrote the Fed to express concerns over the blow-up of the Archegos family fund. This incident reveals both the dangers of excessive leverage at private funds, and the failure of banking regulators, including the Federal Reserve, to properly regulate bank interactions with such funds. To address these issues, the Federal Reserve must investigate its own regulatory failures in this case and publicly disclose the lessons learned from this investigation, and must also work with the Financial Stability Oversight Council to address the risks of excessive leverage at private funds.
Americans for Financial Reform Education Fund joined 64 groups in writing a letter to Federal Reserve Chair Powell to take bold and timely action on climate change, in line with the US commitment to the Paris Agreement. The letter asks him to use the Fed’s
Letters to Regulators: AFR Ed Fund Supports SEC Move to Reform Treasury Markets; Calls for More Action
AFR Education Fund sent a comment to the SEC supporting the proposed elimination of regulatory exemptions in government securities markets. The letter also calls for the SEC to make further reforms in fixed income markets.
The Biden Administration today issued an Executive Order initiating an ambitious government-wide effort to tackle the climate crisis. Just one week into his term, President Biden has already re-entered the U.S. into the Paris Agreement and appointed strong climate leaders. What we need next from the Administration is a more detailed plan for how our federal financial regulators should engage in this effort. Financial regulation and supervision are pivotal tools the Biden Administration can use to help address the climate crisis in an equitable way.
Yesterday, the Commodity Futures Trading Commission adopted a final rule that purports to limit excessive speculation in crucial commodity markets affecting the price of consumer products ranging from gasoline to bread.
The private equity industry, seeing a window of opportunity following the onset of the pandemic, has taken it upon itself to have the companies that it owns issue at least $10 billion in debt solely for the purpose of paying itself. This is yet another example of private equity looting.