News & Analysis as of

Joint Policy Statements

Welcome changes to the Enforcement Process: more streamlined, efficient and transparent

by WilmerHale on

The Financial Conduct Authority ("FCA") and the Prudential Regulatory Authority ("PRA") (collectively referred to as "the Regulators") published a joint policy statement ("the Statement") on 1 February 2017. The Statement...more

UK Regulators Finalize Changes to Enhance Their Enforcement Decision-Making Processes

by Shearman & Sterling LLP on

The Financial Conduct Authority and Prudential Regulation Authority published a joint Policy Statement on changes to their enforcement decision-making processes. The changes are in response to the recommendations set out in...more

Financial Conduct Authority and Prudential Regulation Authority Publish Final Changes to Enforcement Decision-Making Processes

On 1 February 2017, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published a policy statement which outlines the changes that will be made to the regulators’ enforcement policies and...more

US, Canada grid security and resilience strategy

by PretiFlaherty on

The governments of the United States and Canada have released a joint strategy for ensuring the security and resilience of their electric grid. In recognition of the interconnected nature of the North American electric grid,...more

Second Circuit Highlights Bank Regulators' Actions in Weighing Alien Tort Statute Claims

by White & Case LLP on

In Licci v. Lebanese Canadian Bank, the Second Circuit reaffirmed its prior rulings that international law does not recognize corporate liability for crimes under international law, and so dismissed claims by foreign...more

U.S. Government Issues Guidance to Reassure U.S. Banks Involved in Foreign Correspondent Relationships

by Dechert LLP on

The U.S. Department of the Treasury, together with other U.S. government agencies responsible for enforcing anti-money laundering (AML) and economic sanctions regulations, released guidance on August 30, 2016 in the form of a...more

Listing Indian Companies on the Hong Kong Stock Exchange

by Dorsey & Whitney LLP on

India is now included as an “acceptable jurisdiction” by The Stock Exchange of Hong Kong Limited (the “HKEx”). The HKEx also published a new “Country Guide – India” (the “India Guide”) relating to India-incorporated issuers....more

US Agencies Issue Joint Statement on New Accounting Standard on the Measurement of Credit Losses

by Shearman & Sterling LLP on

The Federal Reserve Board, the US Federal Deposit Insurance Corporation, the US Office of the Comptroller of the Currency and the US National Credit Union Administration released a joint statement providing information about...more

Agencies Issue Proposed Regulations on Incentive-Based Compensation

In late April and early May, the National Credit Union Administration, Federal Deposit Insurance Corporation, Federal Housing Finance Agency, the Board of Governors of the Federal Reserve System, Officer of the Comptroller of...more

Take Two: Incentive-Based Payment Arrangements Rule Reappears

For a second time, federal banking regulators are seeking comment on a jointly proposed rule that would impose restrictions on incentive-based pay arrangements....more

Blog: The Senior Insurance Managers Regime: Building A Library – Rules On Regulatory References Updated

by Cooley LLP on

The PRA and FCA have published a joint policy statement: “Strengthening accountability in … insurance: Implementation of … SIMR; and PRA requirements on regulatory references“. The policy statement includes “Regulatory...more

UK Regulators Joint Policy Statement on Regulatory References, Implementation of Senior Manager and Certification Regimes and...

by Shearman & Sterling LLP on

The Prudential Regulation Authority and Financial Conduct Authority jointly published a Policy Statement on the implementation of the Senior Manager and Certification Regimes, Senior Insurance Managers Regime and the...more

U.S. Departments of Education and Health and Human Services Issues Joint Policy Letter On Improving School-Based Health

by Shipman & Goodwin LLP on

The United States Departments of Education and Health and Human Services (the “Departments”) recently issued a joint policy letter emphasizing the importance of improving school-based health through the use of partnerships...more

Overview and Guidance on Final Joint Standards on Diversity and Inclusion

On June 9, 2015, several federal agencies jointly issued a policy statement on standards that companies could use to assess their diversity policies and practices, particularly for entities regulated by more than one agency....more

The Four Cornerstones: Regulatory Focus Sharpens on Student Loan Servicing Industry

We have previously written about recent regulatory focus on the student loan servicing industry. In particular, we discussed the issuance of a 151-page report issued by the Consumer Financial Protection Bureau (CFPB) titled...more

China Demonstrates Increasing Commitment to Addressing Climate Change and Air Pollution Challenges

by Beveridge & Diamond PC on

In the past few weeks, China has taken major steps to revamp its air pollution and climate change policies, domestically and internationally. On September 25, 2015, China entered into a Joint Statement with the United States...more

CFPB Lays Down the Gauntlet on Student Loan Servicing

by MoFo Reenforcement on

The CFPB and the U.S. Departments of Education and the Treasury have released a Joint Statement of Principles on Student Loan Servicing, accompanied by a CFPB report. In the CFPB’s press release announcing the publications,...more

Dodd-Frank and Diversity

by Morgan Lewis on

As the dust settles on the recent final interagency policy statement, employers should discuss with qualified counsel how to develop and encourage a diversity and inclusion strategy within the existing law....more

Regulators Issue Final Dodd-Frank Standards for Assessing Diversity Policies and Practices of Covered Entities in the Financial...

by Epstein Becker & Green on

On June 9, 2015, six federal agencies (“Agencies”) subject to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Act”) issued much-anticipated joint final standards (“Final Standards”) in accordance with...more

Financial Services Weekly News Roundup - July 2015 #2

by Goodwin on

Regulatory Developments - Agencies Post Public Sections of Resolution Plans: In a July 6 joint press release, the Federal Reserve Board and FDIC announced that they have posted the public portions of annual...more

Federal Agencies Issue Final Policy Statement Regarding Standards for Assessing Diversity Policies and Practices

by Goodwin on

On June 9, 2015, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Bureau of Consumer...more

Agencies Issue Final Policy Statement for Complying With Dodd-Frank Section 342: What You Should Know

by Reed Smith on

Six federal banking agencies recently published a final interagency policy statement establishing standards for assessing diversity policies and practices. The final standards, which became effective June 10, 2015, were...more

Dodd-Frank diversity standards: just out of the gate and already under fire

by Ballard Spahr LLP on

Just days after the release of the final diversity standards under Section 342 of the Dodd-Frank Act, several prominent lawmakers and business leaders have criticized the new standards for not going far enough to promote...more

Financial Agencies’ Joint Diversity Standards Voluntary for Regulated Entities

by BakerHostetler on

Six federal financial agencies—the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Consumer Financial Protection...more

Federal Financial Regulatory Agencies Release Final Diversity Standards

by K&L Gates LLP on

After lengthy consideration, six federal financial regulatory agencies—the Consumer Financial Protection Bureau, Office of the Comptroller of the Currency, Federal Reserve Board of Governors, Federal Deposit Insurance...more

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