Today, Fed Vice Chair for Supervision Bowman refused accountability, claiming that she and the rules she voted to weaken were blameless for the 2023 failure of Silicon Valley Bank. Instead, she insists that the fault lies with Fed career staff. Link below.

WATCH: Thanks to Axios & Courtenay Brown for a lively discussion with Dennis Kelleher about the SEC’s quarterly reporting rule, community banks, the debate over AI & crypto oversight. www.youtube.com/watch?v=Uu7f...

Dennis Kelleher makes the case for keeping quarterly reports

YouTube video by Axios Live

youtube.com

Under Chair Atkins, the SEC has proven it will do anything to benefit the crypto industry—including endangering investors by exempting crypto companies that want to facilitate tokenized stock trading from the federal securities laws. Link below.

Today, the SEC proposed to eliminate a basic shareholder right—the right to submit proposals on matters that shareholders consider important to the company. This is the latest move on the part of the SEC to silence shareholders. Link in the comments.

Tomorrow, the SEC will host a roundtable on 24-hour stock trading and the preparedness for a 24-hour market. But if the SEC is determined to allow 24-hour trading even when it admits the market would be unprepared, there seems to be little point to the roundtable. Link below.

Tech insiders' recent warnings about the threat AI poses captured headlines around the world. Learn more about what this means for you and for the financial system.

Eugene Goldman has joined our team as Senior Advisor for Securities Policy. Eugene's experience and expertise will advance our work to protect investors and support durable, sustainable economic growth.

Today, investors face greater peril than at any other time in recent memory because current SEC Chair Atkins has made it his mission to eliminate disclosure requirements. That's a shift away from the SEC's decades-long mission to protect investors. Link below.

Yesterday, we sued the Fed for corrupting the rulemaking process for the Bank Capital Rules. But what are the Bank Capital Rules, and how do they affect everyday Americans? Dennis Kelleher explains:

The Fed is meant to be an honest broker when enacting rules to protect hardworking Americans from Wall Street’s biggest, most dangerous banks. It should not turn that process into a charade by secretly meeting with and coaching the biggest banks to rig key financial protections.

WATCH: Dennis Kelleher announces our lawsuit against the Fed and its Vice Chair for Supervision, Bowman, alleging that she and other Fed officials broke the law by manipulating the rulemaking process and record for the Fed's 2026 proposed Bank Capital Rules. www.youtube.com/watch?v=08DN...

Better Markets’ Lawsuit Against the Fed for Corruption Announcement

YouTube video by Better Markets

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BREAKING: We are suing the Federal Reserve—and its Vice Chair for Supervision, Michelle Bowman—for corruptly colluding with Wall Street's biggest banks to rig the rules that are supposed to protect Main Street Americans. Link to the full announcement below.

Vice Chair for Supervision Bowman’s recent WSJ op-ed asks the right question: how can policymakers help community banks? Our new Substack explains why the problem is Bowman’s own regulatory agenda. Read more in the link below.

Chair Atkins knows that the SEC is supposed to be the investor’s advocate. Yet he continues dismantling the guardrails that protect investors, all while claiming his actions are consistent with investor protection. Investors should not be fooled. Link below.

Most would agree that buying politicians is wrong. But not SEC Chair Atkins.  The SEC has proposed to rescind the rule that prevents investment advisers from using political contributions to ensure their selection as advisers to public pension funds. Link below.

The Fed, banks, hedge funds, and Treasuries are all connected through the Fed’s own balance sheet. That means changes in the size and composition of the balance sheet—which Chair Warsh has expressed a desire to shrink—have huge implications for the U.S. economy. Link below.

Take a peek at our newsletter, linked below, to learn how Better Markets stayed hard at work this past August—including by welcoming a new director of consumer financial protection policy and continuing the fight to protect Main Street Americans.

Over 225,000 Americans wrote to the SEC, telling them "Hell no" on their proposal to end quarterly reporting. What now? Dennis Kelleher explains:

AI's increasing presence and capabilities raise questions about how this technology will impact elections and our democracy. Better Markets' last Substack on AI and the real economy, linked below, explores how AI influences the public and who is accountable.

The SEC should not allow funds that would be used for nothing other than gambling to be regulated as if they are similar to the ETFs in which millions of Americans invest. To do so would further betray its core mission to protect investors. Link below.

The FDIC's reckless proposals will dismantle the FDIC's ability to prepare for the financial crisis. That's too big a risk to allow. See the link below to learn more.

Major broker-dealers failed to submit public comments on the SEC's recent trade-through proposal, choosing silence over public engagement on a critical market structure issue. An expert examines why in his latest Substack, linked below.

Breaking: The Ninth Circuit rejected Kalshi’s attempts to circumvent state gaming laws by calling its wagers “swaps.” See the link below to learn more about what this means for prediction markets.

Treasury Secretary Bessent's unusual interventionist actions have not worked, and as Chair Warsh will likely highlight tomorrow, the Fed won't be the savior this time. There is no more free lunch in the Treasury market. See the link below to learn more about what that means.

The CFTC’s interest in 24/7 futures trading and perpetual futures on physical commodities signals it intends to continue blurring the line between investing and gambling.  See the link below on why the CFTC should stop threatening to turn derivatives markets into casinos.

Prediction markets tried to break state and tribal gambling laws. The next frontier might be their attempt to overtake the stock market by maneuvering around investor protections. This should worry everyone. Link below.

The explosive number of data centers is powering AI's massive buildout, but who bears their cost? Our latest Substack, linked below, reveals how the hidden financial and economic costs of data centers fall on local communities. bettermarkets.substack.com/p/who-pays-f...

Who Pays for AI’s Buildout? Inside Data Center Funding and Its Fallout

Evan LeFlore, Director of AI, Innovation, and Economic Opportunity, Better Markets

bettermarkets.substack.com

The SEC and CFTC's joint request for comment on how to regulate event contracts on public companies' KPIs appears to be driven by prediction market platforms’ desire for legal cover for their offerings of event contracts on corporate events. Link below.

If the SEC is going to assume more responsibility for the CAT—the most important tool it has to fight crime on Wall Street—it must also take steps to strengthen, not weaken, the CAT, including by ensuring that the CAT is fully funded.

Bloomberg Law@bloomberglaw.com · 4w ago

Wall Street’s watchdog would require more money from Congress to flex a market-tracking database it’s considering taking over that’s caused clamor inside the financial industry and out.

CME CEO Terry Duffy is right—unregulated prediction markets are dangerous, vulnerable to manipulation by people with insider information, and promote event contracts that offer no economic utility. Read more via the link below.