Bank Holding Company

News & Analysis as of

Tenth Circuit Court of Appeals Dismisses Failed Bank Shareholder Derivative Suit under FIRREA

On April 21, the United States Court of Appeals for the Tenth Circuit upheld the dismissal of a bank shareholders’ suit against a bank holding company – and its officers and directors – for breach of fiduciary duty. Barnes v....more

Federal Reserve Board Expands Small Bank Holding Company Policy Statement

On April 9, the Board of Governors of the Federal Reserve (Board) issued a final rule to expand the applicability of its Small Bank Holding Company Policy Statement and also apply it to certain savings and loan holding...more

Locke Lord QuickStudy: Federal Reserve Issues Final Rule to Expand the Small BHC Policy Statement

On April 9, 2015, the Federal Reserve Board issued a final rule to implement statutory changes to the Small Bank Holding Company Policy Statement (Small BHC Policy Statement) which will: (1) increase the asset threshold of...more

Corporate & Financial Weekly Digest - Volume X, Issue 15

In this issue: - Update: Proposed Amendments to DGCL, Including Ban on Fee-Shifting and Permitting Exclusive Forum Provisions - CFTC and Australian Regulator Sign Memorandum of Understanding Regarding...more

Financial Services Weekly News Roundup - April 2015 #3

DOL Fiduciary Standard Proposal. The Department of Labor issued a notice of proposed rulemaking including a definition of the term “fiduciary,” a conflict of interest rule for retirement investments, new exemptions and...more

Financial Regulatory Developments Focus - April 2015 #2

In this issue: - US Federal Reserve Board Expands Applicability of Small Bank Holding Company Policy Statement - US Federal Reserve Board Requests Public Comment on Proposed Amendments to Regulation D -...more

Fed Eases Small Bank M&A Rules

The Board of Governors of the Federal Reserve Board has modified its Small Bank Holding Company Policy Statement to facilitate the sale of smaller community banks. Under the final rule, a holding company with less than...more

U.S. FSOC Proposes Qualified Financial Contract Rules and Creates a New Challenge for Large Financial Companies that are not SIFIs

The Financial Stability Oversight Council (Council) proposed regulations (Rule) on January 7, 2015, which create a new challenge for all nonbank financial companies with assets of $50 billion or more. While the four companies...more

Federal Reserve Board Proposes to Include Legal Entity Identifiers in Certain Banking Organization Reporting

One difficulty encountered by national banking authorities during the course of the 2008 global financial crisis was identifying the ultimate parent for the trades made by various subsidiaries of dealers. To assist in...more

Federal Reserve Board Extends Comment Period

On February 26, the Federal Reserve Board extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies....more

Federal Reserve Board Invites Comments on Small Bank Holding Company Policy Statement

On January 29, the Board of Governors of the Federal Reserve System (Board) invited public comment on a proposed rule to expand the applicability of the Board’s Small Bank Holding Company Policy Statement (Policy Statement)...more

Orrick's Financial Industry Week in Review

ECON Votes in Favor of the MIF Regulation - On January 27, the Economic and Monetary Affairs Committee ("ECON") released a press release stating that it had voted in favour of the proposed Regulation on multilateral...more

Federal Reserve Proposes to Expand the Applicability of Board’s Small Bank Holding Company Policy Statement

On January 29, Federal Reserve Board (Fed) invited public comment on a proposed rule to expand the applicability of the Board’s Small Bank Holding Company Policy Statement (Policy Statement) for small bank holding companies...more

"New Provisions Require Structural Change for Foreign Banking Organizations"

The Enhanced Prudential Standards (Regulation YY) of the Board of Governors of the Federal Reserve System represent a significant shift in the U.S. regulation of foreign banking organizations (FBOs). In general, Regulation...more

Financial Regulatory Developments Focus - February 2015

In this issue: - US Federal Deposit Insurance Corporation Issues Proposal Revising Provisions of Securitization Safe Harbor Rule - US Federal Deposit Insurance Corporation Issues Proposal Amending Regulations...more

House Takes Action to Delay Volcker Rule

On Wednesday, the House passed a bill that would further delay the full implementation of the Volcker Rule – a highly controversial rule introduced under the Dodd-Frank Wall Street Reform and Consumer Protection Act that...more

House Passes Bill Implementing JOBS Act Changes (and Volcker Rule changes)

Today, the House voted (271-154) to pass H.R. 37, titled “Promoting Job Creation and Reducing Small Business Burdens Act.” Among other things, the bill includes a number of measures that correct issues arising in the JOBS...more

Observation 2.0: The Anti-Evasion Provision of the Volcker Rule

Overview This Client Alert continues Pepper’s observations on the Volcker Rule. Critical attention should be paid to the Volcker Rule’s anti-evasion provision, a powerful tool granted by Congress to the regulatory agencies to...more

Democrats Fend Off Changes to Volker Rule and Derivative Matters

The political gamesmanship has begun. According to Maxine Walters “Republicans attempted to move a package of 11 bills that contained controversial changes to provisions relating to derivatives and Volcker rule. The...more

Federal Reserve Issues Second Extension of Volcker Compliance Date, Previews Final Extension Next Year

The Board of Governors of the Federal Reserve System (the Board) recently issued an order granting the second of three statutorily permitted one-year extensions for compliance by banking entities with the requirements of the...more

SEC Proposes Amendments to Registration Requirements

In December 2014, the SEC proposed amendments to revise the rules related to the thresholds for registration, termination of registration, and suspension of reporting under Section 12(g) of the Exchange Act. These proposals...more

Congress Eases Debt Level Restrictions for Smaller Banks, Thrifts

On December 11, Congress passed legislation redefining the size of smaller institutions allowed to take advantage of the Federal Reserve’s Small Bank Holding Company Policy Statement from less than $500 million to less than...more

SEC Proposes Changes to Exchange Act Rules to Implement Title V and Title VI of the JOBS Act

The SEC recently proposed rule amendments as part of its implementation of Title V and Title VI of the JOBS Act. These proposed amendments reflect the increased registration, termination of registration and suspension of...more

SEC Proposes Amendments to Exchange Act Rules—Higher Thresholds for Mandatory Registration as Required by the JOBS Act

On December 18, 2014, the SEC proposed rule amendments required by the Jumpstart Our Business Startups (JOBS) Act that, if enacted, would: - revise the SEC’s rules relating to the thresholds for registration,...more

Financial Services Weekly News Roundup - December 2014 #3

Amendment to Swaps Push-out Provision of Dodd-Frank: Section 630 of the recently passed Consolidated and Further Continuing Appropriations Act, 2015 (“Omnibus Spending Bill” – see p. 249) amends Section 716 of the Dodd-Frank...more

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