The US Senate Banking Committee advances the Financial Integrity and Regulatory Management Act

According to BlockBeats, on March 14th, the US Senate Banking Committee voted 13-11 on Thursday to advance the Financial Integrity and Regulation Management Act. The bill will prohibit federal regulatory agencies from using "reputation risk" as an evaluation factor in financial regulation. In addition, the committee has made a series of revisions to the bill, including adjusting the regulatory approach through the "Managers' Scheme" to ensure that bank regulation is "adapted" based on its risk profile and business model.