The Election Law Enforcement Commission (ELEC) proposed new rules this week (56 N.J.R. 1684(a) and 56 N.J.R. 1699(a)), finally implementing the legislature’s creation of reporting requirements for independent expenditure (IE)...more
In Short - The Situation: Over the course of 2023, the Financial Stability Oversight Council ("FSOC") took steps that increase the risk of nonbank financial companies and financial activities being designated as...more
Federal Reserve Board (“FRB”) Vice Chair of Supervision Michael Barr gave remarks to the Banking on Financial Inclusion Conference at Jackson State University early this week....more
Compliance professionals are used to internal struggles for influence and resources. Chief compliance officers have devoted years and years to justifying the need to elevate and empower the compliance function. For years,...more
Governance and Implementation Compliance Hallmarks for FIs - A new report from the Organization for Economic Cooperation and Development (OECD) says that tax administrations can assess financial institutions’ FATCA and CRS...more
The COVID-19 pandemic and the accompanying market downturn have resulted in widespread uncertainty felt on a global scale – including in the M&A space. This webinar will explore ways M&A transactions – particularly due...more
The Organization for Economic Co-operation and Development (the “OECD”) has published version 2.0 of its Common Reporting Standard (the “CRS”) Implementation Handbook (the “Handbook”)....more
The CFPB has released a new report, “Financial well-being in America,” and a new on-line interactive tool that allows consumers to measure their own financial well-being and access CFPB resources intended to help consumers...more
In a letter to all FINRA member firms (the “FINRA Priorities Letter”), FINRA set forth its regulatory and examination priorities for 2014, highlighting significant risks and issues that could adversely affect investors and...more
On May 30, 2013, the California Department of Financial Institutions (“CADFI”) issued a cease and desist letter to Bitcoin Foundation, a not-for-profit organization established to standardize, protect, and promote the use and...more
On Thursday, March 28, 2013, the Commodity Futures Trading Commission (the "CFTC") approved a final order that exempts certain non-financial energy derivative transactions between and amongst government-owned electric...more
On April 3, the Fed approved a final rule establishing the requirements to determine when a nonbank financial company is ‘predominantly engaged in financial activities‘ in order for the Financial Stability Oversight Council...more
The Board of Governors of the Federal Reserve System has approved a final rule setting forth requirements for determining when a company is “predominately engaged in financial activities.”...more
The Federal Reserve Board has approved a final rule that establishes the requirements for determining when a company is “predominantly engaged in financial activities.” The requirements will be used by the Financial Stability...more
On April 3, the Federal Reserve Board (“Board”) published a final rule (“Rule”) specifying when a financial company that may be made subject to systemic regulation under Title I of the Dodd-Frank Wall Street Accountability...more