News & Analysis as of September 26, 2024

Federal Deposit Insurance Corporation › Investment Adviser

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The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships. less -

SEC Scrutiny into Cash Sweep Programs: What Investment Advisers Need to Know

Katten Muchin Rosenman LLP on 8/19/2024

In recent years, the US Securities and Exchange Commission (SEC) has initiated several probes into how advisory firms manage their cash sweep programs, which are designed to transfer idle cash from investment advisory...more

FDIC Whipsaws Industry with Proposed Changes to Brokered Deposits Rules

Seward & Kissel LLP on 8/7/2024

1. Introduction and Summary - On July 30, 2024 – a mere 32 months after adopting a new regulatory framework for brokered deposits in December 2020 (the “Current Rules”) – the Federal Deposit Insurance Corporation (“FDIC”)...more

The Pendulum Swings Back: FDIC Proposes Changes to Brokered Deposits Restrictions

Mayer Brown on 8/5/2024

On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) proposed revisions to the restrictions on brokered deposits (the “Proposal”). The Proposal is intended to strengthen the restrictions to reflect the FDIC’s...more

FDIC Proposes Revisions to Broker Deposits Rule

Ballard Spahr LLP on 8/2/2024

The FDIC board on July 30 approved a notice of proposed rulemaking intended to strengthen the prudential protections of the agency’s safety and soundness rule for brokered deposits (12 CFR 337.6)....more

Banking and Consumer Regulatory Digest - October 2023

Davis Wright Tremaine LLP on 10/16/2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Federal Agencies Propose Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations

Goodwin on 6/26/2023

Regulatory Developments Federal Agencies Propose Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations. On June 8, the CFPB, FDIC, Federal Reserve, NCUA, and OCC requested public comment on...more

Overdraft Protection Programs: Risk Management Practices

Goodwin on 5/1/2023

Regulatory Developments - Overdraft Protection Programs: Risk Management Practices - On April 26, the OCC issued guidance in OCC Bulletin 2013-12, “Overdraft Protection Programs: Risk Management Practices,” to...more

President Biden Signs Executive Order Banning New Investments in Russia

Goodwin on 4/15/2022

In This Issue. President Biden issued an executive order banning new investments in Russia in response to Russia’s continued war against Ukraine; the Federal Deposit Insurance Corporation (FDIC) issued a notification to all...more

FDIC Requests Comments to Draft Principles for Climate-Related Financial Risk Management

Goodwin on 4/8/2022

In This Issue. The Federal Deposit Insurance Corporation (FDIC) requested comments to draft principles for climate-related financial risk management; the U.S. Securities and Exchange Commission (SEC) published its 2022 exam...more

SEC Proposes Changes to Private Fund Regulation

Goodwin on 2/11/2022

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed changes to private fund regulation; the Office of the Comptroller of the Currency (OCC) succeeded in validating its “valid-when-made” rulemaking; the...more

SEC Publishes Sample Climate Change Comment Letter

Goodwin on 9/24/2021

In This Issue. The U.S. Securities and Exchange Commission (SEC) published a sample comment letter on climate change disclosures; the Financial Industry Regulatory Authority (FINRA) is conducting a review of brokerage firm...more

CFPB Withdraws Proposal to Delay Debt Collection Final Rules

Goodwin on 9/17/2021

In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more

Tenth Circuit Upholds District Court’s Ruling Finding No Breach of Fiduciary Duties in Section 36(b) Case

Goodwin on 8/6/2021

In This Issue. The federal bank regulators published frequently asked questions concerning the London Interbank Offered Rate transition; the Consumer Financial Protection Bureau (CFPB) confirmed an effective date for two...more

Agencies Publish Notice and Request for Comment on Proposed Interagency Guidance on Third-Party Relationships

Goodwin on 7/30/2021

In This Issue. The federal bank regulatory agencies requested public comment on proposed guidance designed to help banking organizations manage risks associated with third-party relationships; the Office of the Comptroller of...more

SEC Finalizes Reforms Under Investment Advisers Act

Goodwin on 1/7/2021

In this Issue. The Securities and Exchange Commission (SEC) finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors, and published a risk...more

FDIC Finalizes Brokered Deposits and ILC Rules Ahead of the Holidays

Goodwin on 12/17/2020

In this Issue. The Federal Deposit Insurance Corporation (FDIC) was busy this week, finalizing rules that modernize brokered deposits regulations, establish new standards for parent companies of industrial loan companies and...more

OCC Proposes Rules for CRA Benchmarks and Fair Access

Goodwin on 11/30/2020

In the News. The Office of the Comptroller of the Currency (OCC) issued a long-awaited rule seeking comment on its proposed approach to determine the Community Reinvestment Act (CRA) evaluation measure benchmarks, retail...more

Recent Amendments to the Volcker Rule Will Benefit CLOs and the Banks That Invest in Them

Orrick, Herrington & Sutcliffe LLP on 7/20/2020

There is some (at least regulatory) good news for CLOs this summer. In late June, the Federal Reserve Board, the Treasury Department, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation,...more

Volcker Rule Amendments: Implications for Asset Managers

Proskauer Rose LLP on 7/16/2020

On June 25, 2020, the Federal Reserve Board, the OCC, the FDIC, the SEC and the CFTC (collectively, the "Agencies") adopted amendments (the "Amendments") to the regulations implementing section 13 of the Bank Holding Company...more

Financial Services Weekly Roundup: The Supreme Court Strikes Back On Single Director Leadership Structures

Goodwin on 7/6/2020

In This Issue. The U.S. Supreme Court struck down the single director leadership structure of the Consumer Financial Protection Bureau (CFPB) in a ruling that could have far-reaching implications for the CFPB and other...more

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on 6/26/2020

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

SEC Provides No-Action Relief For Broker-Dealer Sweep Programs

Morrison & Foerster LLP on 4/7/2020

On March 30, 2020, the Securities and Exchange Commission (SEC) issued a no-action letter stating that the staff of the SEC’s Division of Trading and Markets would not recommend enforcement actions against broker-dealers that...more

Financial Services Weekly Roundup: New Rules, Amendments And More Amid Coronavirus Outbreak

Goodwin on 3/19/2020

In This Issue. The ongoing global outbreak of the coronavirus (COVID-19) continues to grow in scale and scope. In response, federal financial regulators are continuing efforts to bring regulatory relief to promote stability...more

Understanding the Newly Proposed Credit Fund Exclusion Under the Volcker Rule

Kramer Levin Naftalis & Frankel LLP on 2/12/2020

Section 13 of the Bank Holding Company Act of 1956 (the BHC Act) generally prohibits any insured depository institution (as defined in Section 3(c) of the Federal Deposit Insurance Act, but excluding institutions that...more

Federal Banking Agencies Provide Temporary Relief from Compliance with Regulation O for Investment Advisers to Large Fund...

Dechert LLP on 2/10/2020

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (Federal Banking Agencies) on December 27, 2019 provided temporary relief from...more

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Federal Deposit Insurance Corporation › Investment Adviser

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