After more than two decades in obscurity, the Congressional Review Act (CRA) has now emerged as a major factor in the relationship between the U.S. Congress and the regulatory agencies....more
Companies that the Financial Stability Oversight Council (FSOC) believes may be subject to FDIC receivership under the Orderly Liquidation Authority contained in Title II of the Dodd-Frank Act, and certain of their...more
3/8/2017
/ Bank Holding Company ,
Banks ,
Broker-Dealer ,
Court-Appointed Receivers ,
Derivatives Clearing Organizations ,
Dodd-Frank ,
Exemptions ,
FDIC ,
Financial Institutions ,
FSOC ,
Insolvency ,
Investment Adviser ,
Major Swap Participants ,
Qualified Financial Contracts (QFC) ,
recordkeeping ,
Recordkeeping Requirements ,
SIFIs
The presidential election has opened the possibility of significant changes to the Dodd-Frank Act regime that has been implemented over the last six years. It remains to be seen what plans the incoming administration will...more
11/30/2016
/ Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
FDIC ,
Financial Institutions ,
FSOC ,
Glass-Steagall Act ,
Liquidation ,
Presidential Elections ,
Shadow Banking ,
Too Big to Fail ,
Trump Administration ,
Volcker Rule
Dechert partner Thomas P. Vartanian published an article entitled, "Open Letter to Trump: Weigh the Costs of Regulation," in the November 11 issue of the American Banker. While noting that it is undisputed that federally...more
Campaign promises rarely turn into specific actions, but when they do, they are necessarily impacted by the dynamics of the legislative process. History suggests, however, that the policies of candidates can be a predictor of...more
10/12/2016
/ Acquisitions ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
FSOC ,
Hillary Clinton ,
Industry Consolidation ,
Liquidity ,
Mergers ,
Mortgages ,
OCC ,
Policy Terms ,
Presidential Elections ,
Receivership ,
SIFIs ,
Too Big to Fail ,
Trump Administration ,
Volcker Rule
As the general July 21, 2015 deadline approached to conform with the implementing regulations (Final Rules) for the Volcker Rule, a key issue remained with respect to the sponsoring, organizing and seeding of investment...more
7/29/2015
/ Banks ,
Covered Funds ,
Final Rules ,
Financial Institutions ,
Foreign Investment ,
Investment Companies ,
Investment Company Act of 1940 ,
Proprietary Trading ,
Public Funds ,
Registered Funds ,
Volcker Rule
During 2014, the number of enforcement actions brought by federal banking agencies1 continued a downward trend that began in 2011. Federal banking agencies issued 661 formal enforcement actions, representing more than a 55...more
6/24/2015
/ Banking Sector ,
Choke Point ,
Civil Monetary Penalty ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Fines ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Enforcement Statistics ,
FDIC ,
Financial Institutions ,
FIRREA ,
Foreign Currency ,
Mortgage-Backed Securities ,
RMBS ,
Strategic Enforcement Plan
The Financial Stability Oversight Council (“FSOC”) has taken the next step in its consideration of the asset management industry, by issuing a notice requesting public comment on whether asset management products and...more
The Financial Stability Board (FSB), in consultation with the International Organization of Securities Commissions (IOSCO), issued “Assessment Methodologies for Identifying Non-Bank Non-Insurer Global Systemically Important...more