Editor's Note -
OATS Reporting Violations and FINRA Enforcement. FINRA’s Order Audit Trail System (OATS), is an integrated audit trail of order, quote and trade information for all NMS stocks and OTC equity securities,...more
8/12/2016
/ Administrative Law Judge (ALJ) ,
Appeals ,
Appointments Clause ,
Banks ,
Civil Monetary Penalty ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Diversity ,
Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 ,
Federal Reserve ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
Foreclosure ,
Interim Rule ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Small Business
Regulatory Developments -
SEC Proposes Amendments to Update and Simplify Disclosure Requirements as Part of Overall Disclosure Effectiveness Review -
On July 13, the Securities and Exchange Commission (SEC) proposed...more
7/21/2016
/ Banks ,
Broker-Dealer ,
Conflicts of Interest ,
Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Customer Service Standard ,
Disclosure Requirements ,
EU ,
Executive Compensation ,
FASB ,
Fiduciary Duty ,
GAAP ,
Golden Leash Arrangements ,
IFRS ,
Investment Adviser ,
Nasdaq ,
OCIE ,
Overdraft Fees ,
Recess Appointments ,
Securities and Exchange Commission (SEC) ,
Separation of Powers ,
Stocks ,
Telemarketing ,
Vendors
Regulatory Developments -
Client Alert: Volcker Rule Conformance Period for Legacy Covered Fund Activities Extended One Year -
On July 7, the Board of Governors of the Federal Reserve System announced that it has...more
Regulatory Developments -
FSOC Rescinds GE Capital's SIFI Designation -
On June 29, the Financial Stability Oversight Council (FSOC) announced that it had voted unanimously to “rescind its determination that...more
6/30/2016
/ Comptroller ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Buyers ,
Financial Industry Regulatory Authority (FINRA) ,
FSOC ,
Guidance Update ,
Innovation ,
Investment Adviser ,
Investment Companies ,
Madden v Midland Funding ,
Mortgage Servicers ,
NASD ,
National Bank Act ,
OCC ,
Petition for Writ of Certiorari ,
Preemption ,
Registered Investment Companies (RICs) ,
Securities ,
Securities and Exchange Commission (SEC) ,
SIFIs ,
Smaller Reporting Companies ,
Usury
Regulatory Developments -
SEC Issues Order Approving Inflation Adjustments to “Qualified Client” Dollar Thresholds for Investment Adviser Performance Fee Rule -
On June 14, the SEC issued an order approving...more
6/23/2016
/ Blockchain ,
Congressional Investigations & Hearings ,
Dodd-Frank ,
Enforcement Actions ,
FSOC ,
GAAP ,
Inflation Adjustments ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
No-Action Letters ,
Non-GAAP Financial Measures ,
Online Marketplace Lending ,
Performance Fee Rule ,
Qualified Client ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
Threshold Requirements
Regulatory Developments -
OFAC Updates Frequently Asked Questions Regarding Lifting Sanctions on Iran -
On June 8, the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC) updated its...more
6/16/2016
/ Appeals ,
Consumer Financial Protection Bureau (CFPB) ,
Customer Funds Protection ,
Cybersecurity ,
Department of Labor (DOL) ,
Dodd-Frank ,
Enforcement Actions ,
Fiduciary Duty ,
Iran Sanctions ,
Offerings ,
Office of Foreign Assets Control (OFAC) ,
Preemption ,
Presidential Veto ,
Regulation A ,
Securities ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
CFPB Proposed Rule to Limit Payday Lending and Other High Cost Loans -
On June 2, the Consumer Financial Protection Bureau (CFPB) proposed a rule designed to limit payday loans, auto title...more
6/9/2016
/ Administrative Procedure Act ,
Anti-Money Laundering ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Labor (DOL) ,
Dodd-Frank ,
E*Trade ,
Federal Reserve ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
First Amendment ,
Payday Loans ,
Securities and Exchange Commission (SEC) ,
Usury
Regulatory Developments -
SEC Staff Updates 2014 Money Market Fund Reform FAQs -
On May 23, the staff of the Securities and Exchange Commission’s (SEC) Division of Investment Management published additional...more
Breaking News -
Solicitor General Files Brief in Madden v. Midland Funding -
On May 24, the U.S Solicitor General (SG) filed a brief with the U.S. Supreme Court (the Court) in the matter of Madden v. Midland...more
5/26/2016
/ Automotive Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Services ,
Department of Labor (DOL) ,
Depository Institutions ,
Due Diligence ,
Fair Housing Act (FHA) ,
Fair Labor Standards Act (FLSA) ,
FDIC ,
Financial Services Industry ,
FinCEN ,
Investment Companies ,
Madden v Midland Funding ,
Minimum Salary ,
Money Market Funds ,
National Bank Act ,
Non-GAAP Financial Measures ,
NPRM ,
OCC ,
Online Marketplace Lending ,
Payday Loans ,
Pleadings ,
Preemption ,
PSLRA ,
Reconciliation ,
Reverse Mortgages ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
State Law Claims ,
Unpaid Overtime ,
White-Collar Exemptions
Regulatory Developments -
SEC Publishes Small Entity Compliance Guide for Crowdfunding -
On May 13, the Securities and Exchange Commission (SEC) published a small entity compliance guide for companies wishing to...more
5/19/2016
/ Article III ,
Banks ,
Class Action ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Crowdfunding ,
Federal Housing Administration (FHA) ,
Financial Industry Regulatory Authority (FINRA) ,
Funding Portal ,
Injury-in-Fact ,
Mutual Funds ,
Non-GAAP Financial Measures ,
OCC ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Spokeo v Robins ,
Standing
Regulatory Developments -
CFPB Responds to Industry Concerns on Know Before You Owe Rule -
On April 28, the CFPB issued a letter to banking and industry groups in response to an inquiry by the Mortgage Bankers...more
5/5/2016
/ Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Deposit Insurance ,
Enforcement Actions ,
FASB ,
FDIC ,
Investment Adviser ,
Mortgage Lenders ,
Negligence ,
OCC ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Student Loans ,
Volcker Rule
Regulatory Developments -
Federal Banking Regulators Propose Net Stable Funding (Liquidity) Ratio -
The Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation...more
4/29/2016
/ Accreditation ,
Banking Regulators ,
Banks ,
Civil Investigation Demand ,
Consumer Financial Protection Bureau (CFPB) ,
Content Aggregators ,
Debt Collection ,
Deposit Insurance ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
For Profit Colleges ,
Incentive Compensation ,
Lead Generators ,
Liquidity Coverage Ratio ,
Loans ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
FHFA Announces Principal Reduction Program for Struggling Underwater Homeowners -
On April 14, the Federal Housing Finance Agency (FHFA) announced a new Principal Reduction Modification...more
4/21/2016
/ Banks ,
Congressional Budget Office ,
FHFA ,
FinTech ,
FSOC ,
GAO ,
GSE ,
Major Swap Participants ,
OCC ,
OFR ,
Securities and Exchange Commission (SEC) ,
Swap Dealers ,
Underwater Homeowners
Regulatory Developments -
DOL Issues Final Fiduciary Rule -
On April 6, the Department of Labor (DOL) unveiled its pre-publication final version of the long-awaited fiduciary rule (the Final Rule). Some of the more...more
4/7/2016
/ Banking Sector ,
Broker-Dealer ,
Community Banks ,
Corporate Governance ,
Cybersecurity ,
Department of Labor (DOL) ,
FDIC ,
Fiduciary Duty ,
Final Rules ,
FinCEN ,
FSOC ,
Funding Portal ,
GE Capital Bank ,
Independent Directors ,
Innovation ,
Investment Adviser ,
Mary Jo White ,
OCC ,
Phishing Scams ,
Private Equity ,
Securities and Exchange Commission (SEC) ,
SIFIs
Regulatory Developments -
SEC Issues FAST Act IM Guidance -
The SEC published an IM Guidance Update highlighting two exemptions from registration under the Investment Advisers Act of 1940 (the Advisers Act) that...more
3/31/2016
/ Banking Regulators ,
Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Fixing America’s Surface Transportation Act (FAST Act) ,
FSOC ,
Oil & Gas ,
Prepaid Payment Products ,
Qualified Mortgage Rule ,
Securities and Exchange Commission (SEC) ,
SIFIs
Regulatory Developments -
FHA Revises Loan-Level Certification Form -
On March 15, the Federal Housing Administration (FHA) announced changes to its loan-level certification form. The changes resulted from concerns...more
3/24/2016
/ Automotive Loans ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Fair Housing Act (FHA) ,
FDIC ,
FinTech ,
Investment Management ,
Madden v Midland Funding ,
Mortgages ,
OCIE ,
Operation Choke Point ,
Preemption ,
Prepaid Payment Products ,
Proxy Access Rule ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Telemarketing Sales Rule
Regulatory Developments -
FDIC Adopts Final Rule to Increase Deposit Insurance Fund to Statutorily Required Level -
On March 15, the Federal Deposit Insurance Corporation (FDIC) approved a final rule to increase the...more
Regulatory Developments -
MSRB Publishes Compliance Advisory for Brokers, Dealers and Municipal Securities Dealers -
The MSRB recently published its first Compliance Advisory for Brokers, Dealers and Municipal...more
3/11/2016
/ Broker-Dealer ,
BSA/AML ,
Civil Monetary Penalty ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Market ,
EU ,
EU-US Privacy Shield ,
European Commission ,
Financial Industry Regulatory Authority (FINRA) ,
MSRB ,
OCC ,
Retail Market ,
Securities and Exchange Commission (SEC) ,
SLUSA
Regulatory Developments -
CFPB Announces No-Action Policy for Innovative Consumer Products -
On Feb. 18, the CFPB issued a final policy statement that permits some companies with innovative consumer products to seek...more
Regulatory Developments -
Federal Reserve Board Repeals Regulation AA and Proposes Repeal of Regulation C -
On Feb. 11, the Federal Reserve Board took steps towards transferring some of its rulemaking authority to...more
2/18/2016
/ Anti-Money Laundering ,
CFTC ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
EMIR ,
EU ,
European Commission ,
FDIC ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Funding Portal ,
OCC ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Stress Tests
Regulatory Developments -
FDIC Provides Framework for Cybersecurity in Recent Supervisory Insights -
The FDIC featured an article titled “A Framework for Cybersecurity” in the Winter 2015 issue of Supervisory...more
2/5/2016
/ Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Cuba ,
Cuban Assets Control Regulations (CACR) ,
Cybersecurity ,
Department of Justice (DOJ) ,
Discriminatory Lending Practices ,
Dodd-Frank ,
Export Administration Regulations (EAR) ,
FDIC ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Funding Portal ,
OCC ,
Securities and Exchange Commission (SEC) ,
Settlement ,
Stress Tests
Regulatory Developments -
Under Review: Deposit Insurance Assessments for Small Banks -
On Jan. 21, the FDIC approved revised proposed rules on risk-based federal deposit insurance assessments for small banks...more
1/28/2016
/ Banking Sector ,
CFTC ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Financial Conduct Authority (FCA) ,
Hart-Scott-Rodino Act ,
OCC ,
Prudential Regulation Authority (PRA) ,
Securities and Exchange Commission (SEC) ,
Swap Execution Facilities ,
UK ,
Whistleblowers
Regulatory Developments -
FinCEN Issues Advisory on Update to List of FATF Identified Jurisdictions -
FinCEN has issued an advisory to financial institutions summarizing updates made by the FATF to the list of...more
Regulatory Developments -
Client Alert: FINRA Releases 2016 Regulatory and Examination Priorities Letter -
Goodwin Procter’s Investment Management practice has issued a client alert on FINRA’s Jan. 5 release of its...more
1/14/2016
/ CFTC ,
Examination Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Holding Companies ,
Institutional Shareholder Services (ISS) ,
Marijuana Related Businesses ,
New Guidance ,
OCIE ,
Proxy Access ,
Proxy Voting Guidelines ,
Securities and Exchange Commission (SEC) ,
Swap Clearing
Regulatory Developments -
CFPB Responds To Industry’s TRID Implementation Concerns:
On Dec. 29 the CFPB responded to a letter by the Mortgage Bankers Association (MBA) from Dec. 21. The MBA letter asked the CFPB to...more