Regulatory Developments -
FDIC Rule Amends Filing Requirements and Processing Procedures for Changes in Control -
On Dec. 16 the FDIC announced the adoption of a final rule amending the FDIC's filing requirements...more
12/23/2015
/ Accredited Investors ,
Bank Secrecy Act ,
Banking Sector ,
Change in Control ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinCEN ,
Fraud ,
OCC ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
FINRA Proposes to Adopt Capital Acquisition Broker Rules -
On Dec. 4 FINRA filed with the SEC a proposal to create a separate rule set that would apply to firms that meet the definition of...more
12/10/2015
/ Capital Raising ,
Community Banks ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
EU ,
European Commission ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Holding Companies ,
Prospectus ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
MSRB Publishes Compliance Advisory for Municipal Advisors:
On Nov. 12 the Municipal Securities Rulemaking Board (MSRB) published its first municipal advisor compliance advisory, developed...more
11/19/2015
/ Brokered Deposits ,
Crowdfunding ,
Cybersecurity ,
Enforcement Actions ,
False Advertising ,
FDIC ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
MSRB ,
Municipal Advisers ,
NYDFS ,
Regulation NMS ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
SEC to Vote on Final Title III Crowdfunding Rules Oct. 30:
The SEC has announced that it will vote on whether to adopt rules and forms related to the offer and sale of securities through...more
10/29/2015
/ Brokers ,
Capital Requirements ,
Covered Swap Entities (CSE) ,
Crowdfunding ,
D&O Insurance ,
Department of Education ,
Disgorgement ,
Dodd-Frank ,
Enforcement Actions ,
Excessive Fees ,
Farm Credit Administration ,
FDIC ,
Federal Reserve ,
FHFA ,
Funding Portal ,
Margin Requirements ,
New Regulations ,
OCC ,
Penalties ,
Professional Misconduct ,
Proposed Regulation ,
Rule 147 ,
Section 504 ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Student Loans ,
Students ,
Swaps ,
Title III
Regulatory Developments -
FINRA Files Proposed Rule Change to Apply Markup Rule to Government Securities:
On Sept. 30 FINRA filed with the SEC a proposed rule change, published in the Federal Register on Oct. 6, to...more
10/8/2015
/ Amended Regulation ,
Cease and Desist Orders ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Data Privacy ,
Data Protection ,
Data Security ,
Dispute Resolution ,
Dodd-Frank ,
Enforcement Actions ,
EU Data Protection Laws ,
FDIC ,
Federal Register ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
International Data Transfers ,
Kamala Harris ,
Mandatory Arbitration Clauses ,
Military Service Members ,
Municipal Securities Market ,
Proposed Regulation ,
Securities and Exchange Commission (SEC) ,
Small Business ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
US-EU Safe Harbor Framework ,
Websites
Regulatory Developments -
NYDFS Announces Approval of First BitLicense Application from a Virtual Currency Firm:
The New York State Department of Financial Services (NYDFS) announced Sept. 22 that it has approved...more
9/24/2015
/ Amended Regulation ,
Bitcoin ,
BitLicense ,
CFTC ,
Choke Point ,
Comment Period ,
Credit Ratings ,
Cuba ,
Cuban Assets Control Regulations (CACR) ,
Cybersecurity ,
Data Breach ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Embargo ,
Export Administration Regulations (EAR) ,
FDIC ,
Financial Institutions ,
Investment Company Act of 1940 ,
Material Disclosures ,
Meals-Gifts-and Entertainment Rules ,
Money Market Funds ,
MSRB ,
Municipal Advisers ,
NRSRO ,
NYDFS ,
NYSE ,
Personally Identifiable Information ,
Press Releases ,
Publicly-Traded Companies ,
Registered Investment Advisors ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
Regulatory Developments:
SEC Approves New Debt Research Rule and Amended Equity Research Rule -
On July 16, the SEC approved FINRA Rule 2241, which modifies and clarifies existing rules related to research analysts,...more
7/23/2015
/ Banking Sector ,
CFTC ,
Conflicts of Interest ,
Consumer Financial Protection Bureau (CFPB) ,
Employee Retirement Income Security Act (ERISA) ,
FDIC ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
OCC ,
Private Student Loans ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Seed Financing ,
Tibble v Edison Int ,
Volcker Rule
Regulatory Developments -
Agencies Post Public Sections of Resolution Plans:
In a July 6 joint press release, the Federal Reserve Board and FDIC announced that they have posted the public portions of annual...more
7/9/2015
/ Auditors ,
Board of Trustees ,
Closed-End Funds ,
Consent Order ,
Diversity and Inclusion Standards (D&I) ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Fiduciary Duty ,
FSOC ,
Joint Policy Statements ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Tibble v Edison Int ,
Unregistered Brokers
FDIC Study Shows Branch Banking Has Staying Power: Has your smartphone displaced your bank? According to an FDIC study released on February 19, traditional brick-and-mortar offices are maintaining their primacy, despite...more
2/26/2015
/ Advertising ,
Banks ,
Brokers ,
Compliance ,
Employee Retirement Income Security Act (ERISA) ,
FBAR ,
FDIC ,
Financial Analysts ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Mobile Banking ,
NASD ,
OCC ,
Registered Funds ,
Securities and Exchange Commission (SEC)
Editor’s Note -
FDIC Highlights Efforts to Provide Regulatory Relief for Community Banks: On February 10, 2015, Doreen Eberley, Director at the Federal Deposit Insurance Corporation (FDIC), testified before the U.S....more
2/12/2015
/ Banking Sector ,
Bitcoin ,
BitLicense ,
Community Banks ,
FDIC ,
Filing Deadlines ,
Hedging ,
Nonbank Firms ,
NYDFS ,
Proxy Statements ,
Securities and Exchange Commission (SEC) ,
Senate Banking Committee
Editor’s Note -
Rich Matheny Comments on New Format of OFAC Sanctions List: On January 5, OFAC announced the release of a new format of its Specially Designated Nationals and Blocked Persons (SDN) List. With the new...more
1/15/2015
/ Anti-Money Laundering ,
Broker-Dealer ,
FDIC ,
FinCEN ,
Industry Examinations ,
Investment Adviser ,
No-Action Relief ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Agenda ,
Sanctions ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Transfer Agents
Editor’s Note -
Spotlight on FINRA Retrospective Rule Review: On December 9, FINRA announced it had issued reports on its retrospective review of two groups of rules – a report on the rules on communications with the...more
12/11/2014
/ ACH Payments ,
Banking Sector ,
BSA/AML ,
CFTC ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Examination Manual ,
FDIC ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Banks ,
Guidance Update ,
Information Reports ,
NACHA ,
NFA ,
OCC ,
Rare Earth Metals ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Supervision ,
Transparency
Editor’s Note:
Spotlight on the FDIC: In a Financial Institutions Letter, FIL-56-2014, the FDIC announced additional guidance on its 1998 Statement of Policy on Applications for Deposit Insurance in a Q&A format on...more
11/26/2014
/ Annual Reports ,
Bankruptcy Code ,
Chapter 15 ,
Citigroup ,
Consumer Financial Protection Bureau (CFPB) ,
Deposit Insurance ,
Enforcement Statistics ,
FDIC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Foreclosure ,
Guidance Update ,
NASD ,
NYSE ,
Regulation SCI ,
Securities and Exchange Commission (SEC)
The SEC first proposed a study of the fiduciary obligations of brokers and investment advisers as required by the Dodd-Frank Act in July 2010. The SEC still has not made a decision about the shape of a fiduciary rule for...more
11/13/2014
/ Bank Holding Company Act ,
Cybersecurity ,
Dodd-Frank ,
ETMFs ,
Exemptive Relief ,
FDIC ,
Federal Reserve ,
FFIEC ,
FinCEN ,
Leveraged Lending ,
Money Services Business ,
OCC ,
Peer-to-Peer ,
Securities and Exchange Commission (SEC)