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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Citigroup Sets Up D.C. Team to Prep for Trump's Regulatory Overhaul
Citigroup is establishing a global regulatory affairs team in Washington as Wall Street firms prepare for the possibility of widespread changes to financial rules under the Trump administration.
Kevin Bailey, a former longtime official at the Office of the Comptroller of the Currency (OCC), will run the new group, which will work alongside the bank’s lobbyists and focus on policy at U.S. and overseas regulators. Julie Bell Lindsay was promoted to be his deputy.
- Bailey, who joined Citigroup from GE Capital, worked for 25 years at the OCC, where he rose to be deputy comptroller for capital and regulatory policy. He also was a U.S. representative to the Basel Committee on Banking Supervision.
- Lindsay, an 8-year Citigroup veteran, is a former SEC lawyer. She was GC of the bank’s Capital Markets and Corporate Reporting legal team, responsible for Citigroup’s public disclosures.
Citigroup’s move puts it in line with rivals like JPMorgan Chase and Goldman Sachs that have groups dedicated to monitoring and shaping financial regulations. Among the biggest issues for the industry is the Federal Reserve’s stepped-up supervision for systemically important firms, including stress tests and rules governing capital levels.