News & Analysis as of

Industry Examinations

Regular CFPB Service Provider Examinations Have Begun; More Service Providers to Face Examinations

by Ballard Spahr LLP on

At the program held on April 7 titled “The State of Consumer Protection Initiatives” at the American Bar Association Business Law Section Consumer Financial Services Committee 2017 Spring Meeting, Peggy Twohig, the CFPB’s...more

Regular CFPB service providers examinations have begun; more service providers to face examinations

by Ballard Spahr LLP on

At the program held on April 7 entitled “The State of Consumer Protection Initiatives” at the American Bar Association Business Law Section Consumer Financial Services Committee 2017 Spring Meeting, Peggy Twohig, the CFPB’s...more

Cal/OSHA Proposes Hotel Housekeeping Injury Rule

by Fisher Phillips on

After several years of discussion and debate, the Cal/OSHA Standards Board (Board) recently issued a proposed standard on “Hotel Housekeeping Musculoskeletal Injury Prevention.” The proposal currently is open for public...more

MSHA Proposes to Extend the Effective Date for the Workplace Examination Final Rule to July 24

On March 27, 2017, the Mine Safety and Health Administration (MSHA) issued a proposed rule to delay the effective date for its Final Rule on Examinations of Working Places in Metal and Nonmetal Mines from May 23, 2017, to...more

The Top Ten Regulatory and Litigation Risks for Private Funds in 2017

Private investment funds and advisers are likely to face new regulatory challenges and increased litigation risks in 2017, not only because of a change in the administration, but also because many advisers have not corrected...more

OCIE Issues Alert on the Five Most Frequent Compliance Topics Identified in Examinations of Investment Advisers

The SEC’s Office of Compliance Inspections and Examinations, or OCIE, has published a list of the five compliance topics most frequently identified in deficiency letters that are sent to SEC-registered investment advisers....more

MSHA’s New Rule on Workplace Examinations at Metal/Non-Metal Mines Scheduled to Take Effect Despite Regulatory Freeze

by Stoel Rives LLP on

On January 23, and for the first time in nearly 40 years, the Mine Safety and Health Administration (“MSHA”) issued new rules governing the way in which metal/non-metal mine operators must conduct their regular workplace...more

[Webinar] 2017 MSHA Enforcement Initiatives and Rulemaking Outlook - Jan. 26th, 1:00pm EST

by Conn Maciel Carey LLP on

As we begin a new calendar year and look ahead to a new administration, industry should continue to stay informed as to MSHA’s regulatory agenda and enforcement initiatives. While MSHA will soon have new decision makers in...more

Top FINRA Priorities for 2017

by Robins Kaplan LLP on

On January 4, FINRA released its Annual Regulatory and Examination Priorities Letter, which outlines the areas it plans to review over the coming year.  FINRA President and CEO, Robert Cook, says that attention to these core...more

FINRA’s 2017 Regulatory & Exam Priorities

by Burr & Forman on

On January 4, new President and CEO Richard Cook issued FINRA’s Annual Regulatory and Examination Priorities Letter. This year’s list in summary is: New for 2017: Targeted electronic off-site reviews “on select...more

FINRA’s Cross-Selling Sweep Exam

by Burr & Forman on

In late October, FINRA issued a sweep exam, commanding firms to produce 15 categories of documents about firm’s cross-selling programs over a 5-year span. The sweep seeks information on cross-selling, including incentives...more

CFPB issues Fall 2016 Supervisory Highlights

by Ballard Spahr LLP on

In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

CFPB Focuses on Servicing in Update to Student Loan Examination Procedures

by Ballard Spahr LLP on

On Monday the CFPB released updated examination procedures for student loans.  This update revises and expands on a previous update that was released in December 2013 in conjunction with the CFPB’s “larger participants” rule...more

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

by Carlton Fields on

- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

OCIE By the Numbers and the Use of Big Data

On October 17, 2016, Marc Wyatt, the Director of the SEC’s Office of Compliance, Inspection and Examinations, gave a keynote address to the National Society of Compliance Professionals titled: Inside the National Exam Program...more

Investment Management Update

by Ballard Spahr LLP on

Investment Adviser AXA Wins Excessive Fee Trial - A federal judge in New Jersey has ruled in favor of AXA Equitable Life Insurance Company (AXA Equitable) and its wholly owned subsidiary, AXA Equitable Funds Management...more

Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation

by Carlton Fields on

Increasingly aggressive and adversarial examinations by state regulators can expose insurers to troubling evidentiary issues in subsequent individual and class action litigation. Plaintiffs’ counsel may seek to admit into...more

FDIC Releases Revised MLA Exam Procedures and Sets Supervisory Expectations

by Ballard Spahr LLP on

On October 17, the FDIC released revised interagency Military Lending Act (MLA) examination procedures for use in connection with consumer credit transactions occurring on or after October 3, 2016. The revised procedures...more

US Federal Financial Institutions Examination Council Revisions to Information Security Booklet

by Shearman & Sterling LLP on

The US Federal Financial Institutions Examination Council issued a revised Information Security booklet, which is part of the FFIEC’s IT Examination Handbook. The Information Security booklet summarizes the factors necessary...more

Why is Anyone Surprised with the SEC Examining Firms with Previously Disciplined Advisors?

by Fox Rothschild LLP on

On Monday, September 12, 2016, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) announced that a “Supervision Initiative” will take place across the country. OCIE staff will conduct focused RIA...more

DoD issues MLA interpretive rule

by Ballard Spahr LLP on

The Department of Defense (DoD) has issued an interpretive rule to assist the industry in complying with its July 2015 final rule amending the Military Lending Act’s implementing regulation. The much-anticipated guidance was...more

Common Deficiencies Noted in Exams of Minnesota Registered Investment Advisers

The Minnesota Department of Commerce recently conducted a series of routine exams of investment adviser firms registered in Minnesota to analyze their compliance with certain regulations applicable to investment advisers. ...more

MSHA’s Proposed New Rules on Workplace Examinations May Increase Individual 110(c) “Agent” Exposure.

by Fisher Phillips on

The Mine Safety and Health Administration (“MSHA”) recently proposed new rules on workplace examinations that may significantly impact mine operators and employers. In recent years, MSHA has been far more willing to use...more

[Webinar] How Changes to MSHA's Workplace Exam Standard Will Affect Your Mine - September 15th, 1:00pm EDT

by Conn Maciel Carey LLP on

MSHA’s proposed changes to the Workplace Exam Standard will create logistical challenges for mine operators. MSHA refers to the workplace exam rule as “common sense,” but the impact on your mine operation will likely be...more

Your daily dose of financial news - The Brief – 7.29.16

by Robins Kaplan LLP on

A federal judge in Idaho has dismissed a $24 billion lawsuit against Credit Suisse alleging that the bank and real estate adviser Cushman & Wakefield ran a “predatory loan-to-own scheme that . . . loaded four luxury ski and...more

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