Welcome to the latest edition of Cabinet News and Views, where we delve into the latest regulatory updates and pivotal developments shaping the financial services landscape.

This week Alix Prentice discusses some breaking news in the latest changes to Basel 3.1 as well as a new joint consultation regulatory framework on diversity and inclusion from the UK’s Financial Conduct Authority and Prudential Regulation Authority. Alix also covers the FCA and PRA’s consultation on regulatory framework on diversity and inclusion. 

I discuss the recently released results of the Federal Deposit Insurance Corporation’s annual Summary of Deposits survey for all FDIC-insured institutions as of June 30, 2023.

We also highlight the consultation launch on the proposed International Standard on Sustainability Assurance 5000, which covers the general requirements for sustainability assurance engagements and the proposed regulations by the IRS addressing digital asset broker reporting requirements and more details on the 2021 changes to the Internal Revenue Code.

We’re always here for comments and questions. Just drop me a note here. 

Daniel Meade 
Partner and Editor, Cabinet News and Views