Fair Access to Financial Services (OCC-2020-0042-0001)

Former Ripple Board Member Tapped to Lead Biden’s OCC: WSJ | Nasdaq

In contradiction to the article I posted before:
The Fair Access rule may be in limbo however; while Brooks finalized it before stepping down from his role last Thursday, it was not published in the Federal Register, meaning it has not yet taken effect. Ronald Klain, the White House Chief of Staff, issued a memo earlier Wednesday directing agency leads to rescind or freeze any rules not yet published.
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The good news is that Barr is also a Cryptocurrency advocate.
Bad news is that the fate of this rule is still uncertain.
 
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Astral Alley said:
Former Ripple Board Member Tapped to Lead Biden’s OCC: WSJ | Nasdaq

In contradiction to the article I posted before:


The good news is that Barr is also a Cryptocurrency advocate.
Bad news is that the fate of this rule is still uncertain.
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What the fuck is Ripple?

Also, I'm not sure I understand this, wasn't the new ruling already published in the Federal Register and to take effect in 60 days? Didn't it already pass all the necessary checkpoints? It's not a "new" ruling insofar as I can tell.

Here's the Federal Register Notice.
 
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MarvinTheParanoidAndroid said:
Also, I'm not sure I understand this, wasn't the new ruling already published in the Federal Register and to take effect in 60 days? Didn't it already pass all the necessary checkpoints? It's not a "new" ruling insofar as I can tell.

Here's the Federal Register Notice.
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That's hosted on the OCC's site, that's not the federal register.
This is the proposed version on the Federal Register: Federal Register :: Fair Access to Financial Services
The finalized version does not seem to be there yet.
 
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MarvinTheParanoidAndroid said:
According to Null, Biden himself slated the Fair Access ruling to be repealed, any cross references to show he really said that? I'm personally hoping Biden is himself unaware and the ruling ultimately gores ignored.
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I do not know where Null heard that information but this is from a recent article: Davis Polk & Wardwell LLP (via Public) / Margaret Tahyar Quoted in American Banker and Reuters on Potential Regulatory Changes (publicnow.com)
Tahyar noted that Biden's executive order to freeze any pending regulations applies only to executive agencies and not to independent agencies. Therefore, she said, the executive order may not apply to the Office of the Comptroller of the Currency (OCC)'s fair access rule, but the OCC and other independent agencies may choose to treat the order as a policy matter.
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So it looks like it's going to be up to the new Comptroller.
 
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Rip for NULL
Hope it gets better for him.
Purge is comming.

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So, government wants to stop the trading of certain stocks to protect Hedge Funds. Tell me again how more government involvement makes things better.
 
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muh_moobs said:
So, government wants to stop the trading of certain stocks to protect Hedge Funds. Tell me again how more government involvement makes things better.
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The government puts temporary freezes on stocks making unprecedented movement all the time. If you actually did any long-term investing, chances are you'd run into one.
The entire reason they do this is to protect consumers from Hedge Funds trying to manipulate the market, which is exactly what the SEC is investigating right now. Whether or not they were manipulated or acting on their own.
 
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Astral Alley said:
The government puts temporary freezes on stocks making unprecedented movement all the time. If you actually did any long-term investing, chances are you'd run into one.
The entire reason they do this is to protect consumers from Hedge Funds trying to manipulate the market, which is exactly what the SEC is investigating right now. Whether or not they were manipulated or acting on their own.
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I know market freezes are a thing. I don't accept that the government does it for the benefit of the people or else short-selling and Hedge Funds wouldn't exist.
 
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