The SEC’s action suggests that formal antimoney laundering program requirements for investment advisers may be on the horizon.
On January 9, the staff of the U.S. Securities and Exchange Commission (SEC) issued the...more
The Federal Reserve Board has announced that it has extended the Volcker Rule’s conformance period for compliance with the private fund provisions for investments in, and relationships with, “legacy” covered funds....more
CFPB proposes to regulate a wide variety of prepaid access devices (card-based, electronic, or virtual) as equivalent to credit cards.
The Consumer Financial Protection Bureau (CFPB) recently proposed extensive new...more
In the latest significant rulemaking arising out of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), on October 22, six federal financial and housing agencies finalized long-awaited rules on...more
The proposal would require financial institutions to identify beneficial owners of legal entities and codify existing customer due diligence guidance....more
The update to the Comptroller’s Handbook highlights the Office of the Comptroller of the Currency’s enhanced expectations regarding the overall risk management of collective investment fund activity and provides insight into...more
The next step in the adoption of new capital standards will potentially cause the largest U.S. banking organizations to face more stringent minimum capital requirements.
On April 8, the Board of Governors of the...more
On March 17, the European Union and United States took further actions with respect to the Ukraine situation, as follows...more
The long-awaited standards establish significant structural, liquidity, risk management, and capital requirements for the largest U.S. and foreign banks operating in the United States, including new intermediate holding...more
The proposed guidelines demonstrate the Office of the Comptroller of the Currency’s continued emphasis on strong risk management for large banks.
New advanced notice of proposed rulemaking requests public comments on physical commodities activities and merchant banking investments of financial holding companies.
The Board of Governors of the Federal Reserve...more
Interim final rule exempts collateralized debt obligation vehicles that hold qualifying community bank trust preferred securities from the private fund sponsorship and investment prohibitions....more
..The final regulations (Regulations) adopted by the five federal financial regulatory agencies (Agencies) on December 10, 2013 to implement the proprietary trading and private fund prohibitions of...more
Proposed rules include a shorter transition period, a narrower definition of what qualifies as “high quality liquid assets,” and a more stringent liquidity stress-testing methodology than the framework issued by the Basel...more