We will all be closely watching the results of the U.S. midterm elections on Tuesday − and for a lot of reasons. For those of us in the financial services industry, the big question is how the vote will impact Congressional initiatives going forward. Simply put: Will the Democrats be emboldened by a strong showing and look to implement additional elements of their agenda or will a so-called "red wave" by the Republicans enable them to reassert their power and determine the legislative agenda for financial services going forward? Or maybe, as many prognosticators suggest, we end up with split control of the legislative agenda, with Republicans in the majority in the House of Representatives and Democrats in the majority in the Senate. Clearly up in the air, pending Tuesday's results, are future policies on crypto-assets, climate, bank regulatory, and so much more.
While we wait for election results to come in, let's focus on what is happening now − the almost-every day developments in the crypto-assets and climate spaces, as well as in consumer banking protection. There was also a significant development in the continued fallout from the Archegos matter. And be sure to read here this week about important developments in the UK surrounding both sustainable disclosure and funds regulation.
I'm always interested in our readers' perspectives. Please feel free to drop me a note here.
Daniel Meade
Editor, Cabinet News and Views
