In this issue:

- OTC Markets Proposes Amendments to OTCQX Rules and New Rules for US Banks

- SEC Approves Changes to FINRA BrokerCheck Disclosure Rule 8312

- SEC to Examine Never-Before Examined Registered Investment Advisers

- DC Circuit Upholds Ruling That IRS Cannot Regulate Tax-return Preparers

- Federal Reserve Approves Final Rule Regulating Bank Holding Companies and Foreign Banking Organizations

- Excerpt from Federal Reserve Approves Final Rule Regulating Bank Holding Companies and Foreign Banking Organizations:

On February 18, the Federal Reserve Board (Federal Reserve) approved a Final Rule to enhance supervision over the largest US bank holding companies (BHCs) and the largest foreign banking organizations (FBOs) with operations in the United States. The Final Rule was adopted pursuant to Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Final Rule applies primarily to BHCs with $50 billion or more in total assets (Large BHCs), but it also creates some requirements for certain BHCs with total assets from $10 billion to $50 billion.

Please see full newsletter below for more information.

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Topics:  Bank Holding Company, Banking Sector, Broker-Dealer, Disclosure Requirements, Dodd-Frank, Federal Reserve, Financial Regulatory Reform, FINRA, Foreign Banks, Investment Adviser, IRS, OTC, SEC, Tax Preparers, Tax Returns

Published In: Finance & Banking Updates, Securities Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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