John Bowman, CFA, is managing director, Americas, at CFA Institute. Previously, he served as managing director and co-lead of education at CFA Institute. Prior to joining CFA Institute, Bowman was a fund manager and equity analyst for Mellon Growth Advisors and State Street Global Advisors. He holds a BS in business administration from the University of Mary Washington.
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The US House Financial Services Committee has advanced a bill to make the Federal Reserve the primary regulator of the Volcker rule. The measure would replace the five entities currently regulating the Volcker rule and lower the capital requirements banks need to meet leverage restrictions. Reuters (21 Mar.)
The Federal Reserve on Wednesday raised its key interest rate to a range between 1.5% and 1.75%, an increase of a quarter of a percentage point, in its first meeting under Chairman Jerome Powell. The rate-setting committee responded to a stronger economic outlook by signaling a brisker rate of increases in 2019 and 2020 than it has suggested in the past. Bloomberg (free registration) (21 Mar.)
The proposed Pan-European Personal Pensions should be approved by national authorities rather than the European Insurance and Occupational Pensions Authority, said Brian Hayes, an Irish member of the European People's Party. The pensions still would be governed by criteria that are consistent throughout the EU, he noted. MLex (subscription required) (21 Mar.)
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