News & Analysis as of

Financial Regulatory Reform Banks

Volcker Rule Reform Begins

by Jones Day on

The Situation: The Volcker Rule's complexity has created uncertainty and compliance burdens that adversely affect market liquidity, risk hedging, and other economically important activities. The Opportunities: Bank...more

The Department of the Treasury Issues Recommendations on the Regulation of U.S. Depository Institutions

by Jones Day on

"A Financial System that Creates Economic Opportunities: Banks and Credit Unions," a Report by the Department of the Treasury, identifies potential reforms that would promote the "Core Principles for Regulating the United...more

Japan Legal Update - Volume 26 | June 2017

by Jones Day on

The amendment to the Financial Instruments and Exchange Act ("Amended FIEA") was enacted on May 17, 2017, and promulgated on May 24, 2017. The Amended FIEA will come into force no later than one year from the date of...more

Treasury Report Recommends Modification of the Leveraged Lending Guidance to Address Reduction in Leveraged Lending by Regulated...

On June 13, the U.S. Department of the Treasury released its report to President Donald J. Trump in response to Executive Order 13772 issued on Feb. 3, which set forth the “core principles” of the Trump administration...more

EMEA Regulatory Capital Chart: Essential features of bank capital regulation across Europe in one handy wall chart.

by White & Case LLP on

Regulatory capital requirements for prudentially supervised financial services companies across Europe are complex and changing rapidly. To keep track of the regulatory framework in the region, we have brought together the...more

House Financial Services Committee Holds Hearing on the Financial CHOICE Act of 2017

by Morrison & Foerster LLP on

On April 26, 2017, the Financial Services Committee of the U.S. House of Representatives held a hearing entitled "A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers, and Entrepreneurs." The purpose...more

All Financial Regulation in the U.S. Now Subject to Review under February 3, 2017 Executive Order Issued by the President

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Hours after the inauguration of President Trump, the White House issued a memorandum which imposed a 90-day delay on regulations which had not yet taken effect. As far as existing financial services law and...more

President Trump issues an executive order on core principles for regulating the financial system

by Ballard Spahr LLP on

On February 3, 2017, the President issued an Executive Order titled “Core Principles for Regulating the United States Financial System.”  The Executive Order is a high-level policy statement consisting of a series of Core...more

"The Trump Impact: Key Issues in Financial Services Reform for 2017"

The Trump administration has provided few specifics regarding its plans for financial regulatory reform. But Republican control of the executive and legislative branches of the federal government should create a favorable...more

Banking trade groups urge creation of commission to run CFPB

by Ballard Spahr LLP on

In a letter sent to Majority Leader McConnell and Minority Leader-elect Schumer, the Consumer Bankers Association, the Credit Union National Association, the Independent Community Bankers of America, and the National...more

Implications of the 2016 Election for Banks, Systemically Important Financial Institutions and Their Investors

by Dechert LLP on

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

NY DFS Finalizes Rigorous AML/BSA Regulation

by Ballard Spahr LLP on

The New York Department of Financial Services (DFS) has finalized a new regulation setting forth rigorous standards for monitoring and filtering programs to monitor transactions for potential anti-money laundering (AML) and...more

Chairman of the US Federal Deposit Insurance Corporation Provides Remarks on the Impact of Post-Crisis Reforms on the US Financial...

by Shearman & Sterling LLP on

FDIC Chairman Martin Gruenberg provided remarks on the improvements to the US financial system and the economy as a result of the regulatory reforms that have been implemented since the financial crisis...more

Orrick's Financial Industry Week in Review

ECB Publishes Public Consultation - The European Central Bank ("ECB") has published a Public Consultation on a draft Addendum to the ECB Guide on options and discretions available in Union law. ...more

Not Just the C-Suite: Regulators Issue Broad New Proposed Rule on Banker Compensation

by Burr & Forman on

In a joint release, Office of the Comptroller of the Currency, Treasury; Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation; Federal Housing Finance Agency; National Credit Union...more

CFPB confirms interest in marketplace lending

by Ballard Spahr LLP on

Companies involved in marketplace lending will be quite interested in the attendee list for the American Banker’s Marketplace Lending + Investing conference taking place this week in New York City. It indicates that 22...more

Looking Back: Delaware's Comprehensive Unclaimed Property Program Reform

by Pepper Hamilton LLP on

The recent reforms have not impacted the power and authority of the Office of the State Bank Commissioner to examine Delaware financial institutions for compliance with the escheat laws, but the shortened look-back period...more

Director Cordray sends warning to vendors on TRID rule compliance

by Ballard Spahr LLP on

In remarks yesterday at the Mortgage Bankers Association’s annual convention, CFPB Director Richard Cordray stated that the CFPB may need to look more closely at vendors of software and other tools used by lenders to comply...more

EP updates on structural reform measures

by Dentons on

EP has updated its procedure file on the proposed Regulation on banking structural reform. The indicative date for the plenary session...more

FMLC presents feedback on regulation reform

by Dentons on

FMLC has issued an interim feedback statement following responses to its discussion paper on coordination in the reform of international financial regulation. The statement highlights both the comments critiquing FMLC’s...more

Banks Get Big Win in Challenge to New York Ordinance

by Bilzin Sumberg on

Many big cities in the United States responded to the fallout from the 2008 financial crisis by passing local laws which pressure banks to invest more in low-income neighborhoods. Between 2010 and 2013, cities such as New...more

Scope of banking reform extended

by Dentons on

The Financial Services (Banking Reform) Act 2013 (Transitional and Savings Provisions) (Amendment) Order 2015 makes amendments to the original transitional provisions order to include all PRA-authorised firms within its scope...more

AML and Investment Advisers: Understanding FinCEN's New Anti-Money Laundering Rules

by BakerHostetler on

On August 25, 2015, the Financial Crimes Enforcement Network (FinCEN) proposed rulemaking that would require registered investment advisers, including certain hedge funds and asset managers, to establish anti-money laundering...more

Senator Shelby's Push for Financial Regulatory Reform

Why it matters - Five years after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, efforts on Capitol Hill seek to continue to turn back many of its regulatory restrictions. Sen. Richard...more

New Risks - the New Senior Manager and Senior Insurance Manager Regimes

by Locke Lord LLP on

From 7th March 2016 (and 1st January for insurers), a new regulatory financial services regime will be in place in the United Kingdom. The new regime is significant; it is intended to make it far easier for UK regulators; the...more

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