On November 21, 2025, the Structured Finance Association, on behalf of the risk transfer market, received no-action relief on the issue of registration as a commodity pool operator (“CPO”) from the staff of the Division of...more
On October 9, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”), jointly with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the...more
11/12/2025
/ AML/CFT ,
Bank Secrecy Act ,
BSA/AML ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Suspicious Activity Reports (SARs)
The United States has had a one cent coin since the founding of the nation and on Wednesday, November 12, the last American penny will be minted. Even though the relative value of one cent declined to the point that many...more
On October 29, 2025, Paul Atkins, Chairman of the Securities and Exchange Commission (“SEC”), signaled that he will ask SEC staff to evaluate relief for certain firms who engage in a de minimis level of security-based swap...more
On October 21, 2025, Governor Christopher J. Waller of the Board of Governors of the Federal Reserve System (the “Federal Reserve”) delivered opening remarks at the inaugural Payments Innovation Conference (the...more
On October 17, 2025, the National Futures Association (“NFA”) announced a proposal to repeal requirements that firms that are registered with the Commodity Futures Trading Commission (“CFTC”) must make certain disclosures to...more
In July, Congress passed, and President Donald Trump signed, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”). The GENIUS Act was a watershed moment in the history of...more
10/23/2025
/ Anti-Money Laundering ,
Banks ,
Cryptocurrency ,
Digital Assets ,
Financial Services Industry ,
FinTech ,
New Legislation ,
Proposed Rules ,
Regulatory Requirements ,
Rulemaking Process ,
Stablecoins ,
The GENIUS Act ,
U.S. Treasury
Matt Bisanz interviews Nolan Andelin, the founder of Verita, on how his technology for tracking wine provenance can be adapted to the financial sector. They discuss what makes this technology work and how it might grow to...more
The podcast dives into the fast-evolving world of stablecoins, explaining how these dollar-pegged digital assets are transforming payments with speed, transparency, and fractional flexibility. We also delve into the GENIUS...more
On October 7, 2025, the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency (“OCC”) (together, the “Agencies”) issued a Notice of Proposed Rulemaking regarding Prohibition on Use...more
10/13/2025
/ Banking Sector ,
Executive Orders ,
FDIC ,
Federal Register ,
Financial Services Industry ,
OCC ,
Proposed Rules ,
Regulatory Agencies ,
Regulatory Oversight ,
Regulatory Reform ,
Risk Management
On September 30, 2025, the staff of the Division of Investment Management of the U.S. Securities and Exchange Commission granted no-action relief that allows, subject to numerous conditions: (i) investment advisers registered...more
10/13/2025
/ Banks ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Financial Institutions ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Investment Funds ,
No-Action Letters ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On September 30, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued a request for information (“AML Survey”) on the costs that nonbank financial institutions (“NBFIs”) incur to comply with anti-money laundering...more
Recently, Illinois amended several provisions of its banking laws (HB3467). These changes were supported by the Illinois banking community and are intended to harmonize Illinois Banking Act and Illinois Savings Bank Act....more
9/23/2025
/ Banking Sector ,
Banks ,
Corporate Governance ,
Financial Institutions ,
Illinois ,
Insured Depository Institutions ,
National Bank Act ,
New Amendments ,
New Legislation ,
Regulatory Reform ,
Shareholder Meetings
EXECUTIVE SUMMARY -
On June 25, 2025, the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued its first orders (“Orders”) pursuant to the 2024 FEND Off Fentanyl Act (21 U.S.C. § 2313a)...more
Matt Bisanz interviews Paul Noring, the head of BRG’s Financial Institution Advisory practice. Together, Matt and Paul take a deep dive into the challenges of continuously advancing bank fraud, cybersecurity best practices,...more
On August 18, 2025, Illinois enacted Senate Bill 1797, the Digital Assets and Consumer Protection Act (the “Act”), establishing a regulatory framework designed to enhance customer protections for digital asset activities and...more
9/4/2025
/ Blockchain ,
Consumer Protection Laws ,
Cryptocurrency ,
Digital Assets ,
Disclosure Requirements ,
Financial Services Industry ,
Illinois ,
New Legislation ,
Regulatory Oversight ,
Regulatory Requirements ,
State and Local Government
On June 18, 2025, the Financial Action Task Force (“FATF”) revised the Travel Rule requirements for certain funds transfers (the “2025 Revisions”). The 2025 Revisions are intended to adapt anti-money laundering (“AML”)...more
On August 7, 2025, President Donald Trump issued an Executive Order entitled “Guaranteeing Fair Banking for All Americans” (the “Order”). The Order announces the Administration’s plan to address the exclusion of certain...more
On July 31, 2025, the Commodity Futures Trading Commission (“CFTC”) issued no-action relief for certain swap reporting counterparties that fail to submit a swap data error correction notification (“NAL 25-25”). This relief...more
On July 15, 2025, the Federal Deposit Insurance Corporation (“FDIC”) requested comment on its framework for reviewing applications for deposit insurance from industrial loan companies and industrial banks (collectively,...more
OVERVIEW OF THE REMITTANCE TRANSFER EXCISE TAX -
Do you effect transfers of funds for US residents to recipients abroad? If so, you should review the provision of the “One Big Beautiful Bill Act” (“OBBBA”) that imposes a...more
WHAT ARE THE KEY DRIVERS FOR REFORM?
The UK Treasury ("HMT") noted the following as drivers for reform:
A key challenge for private companies is that, at early stages in their growth, there are no standardised ways...more
On July 10, 2025, the Board of Governors of the Federal Reserve System (“Board”) proposed changes to its supervisory rating systems for large financial institutions (“LFIs”) and supervised insurance organizations (the...more
Today, President Donald Trump signs into law the Guiding and Establishing National Innovation for US Stablecoins Act of 2025 (the “GENIUS Act”), establishing the first federal regulatory framework for stablecoins in the...more
7/18/2025
/ Anti-Money Laundering ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Cryptocurrency ,
Digital Assets ,
Federal Reserve ,
Financial Regulatory Reform ,
New Legislation ,
OCC ,
Stablecoins ,
Trump Administration
WHAT ARE THE KEY DRIVERS FOR REFORM?
The UK Treasury ("HMT") noted the following as drivers for reform:
A key challenge for private companies is that, at early stages in their growth, there are no standardised ways...more