Regulatory Developments -
FDIC Rule Amends Filing Requirements and Processing Procedures for Changes in Control -
On Dec. 16 the FDIC announced the adoption of a final rule amending the FDIC's filing requirements...more
12/23/2015
/ Accredited Investors ,
Bank Secrecy Act ,
Banking Sector ,
Change in Control ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinCEN ,
Fraud ,
OCC ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
SEC Proposes New Derivatives Rules for Registered Investment Companies and Business Development Companies -
On Dec. 11, the SEC proposed new Rule 18f-4 under the Investment Company Act,...more
12/17/2015
/ Business Development Companies ,
Derivatives ,
Emerging Growth Companies ,
FBAR ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Fixing America’s Surface Transportation Act (FAST Act) ,
Forex ,
Investment Companies ,
National Futures Association ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
SEC Grants Exemption from Registration as a Clearing Agency to Two Matching Service Providers -
On Nov. 24 the SEC approved applications by Bloomberg STP LLC and SS&C Technologies, Inc....more
12/4/2015
/ Broker-Dealer ,
Comment Period ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
MSRB ,
Municipal Advisers ,
No-Action Letters ,
NYDFS ,
Registration Requirement ,
Securities and Exchange Commission (SEC) ,
Waiting Periods
Regulatory Developments:
DOL Releases Transcripts of Fiduciary Standard Hearings -
The Department of Labor (DOL) has released the transcripts of the hearings held by the agency in August on its proposed fiduciary...more
9/10/2015
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Caesars ,
Comment Period ,
Department of Labor (DOL) ,
Enforcement Actions ,
Fiduciary Duty ,
Filing Requirements ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinCEN ,
Indemnification ,
Meals-Gifts-and Entertainment Rules ,
MSRB ,
Municipal Advisers ,
Municipal Securities Issuers ,
New Guidance ,
Proposed Amendments ,
Proposed Regulation ,
Regulation A ,
Securities and Exchange Commission (SEC) ,
Swap Data Repositories ,
Transcripts
Regulatory Developments -
California Department of Business Oversight Permits Money Transmitter to Treat Customer Funds in Designated Custodial Account as “Eligible Securities” -
The California Department of...more
9/3/2015
/ Administrative Procedure Act ,
Anti-Money Laundering ,
Debt ,
Department of Business Oversight ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinCEN ,
Information Reports ,
Investment Adviser ,
Money Laundering ,
Money Transmission Act ,
Money Transmitter ,
Patriot Act ,
Preliminary Injunctions ,
Proposed Regulation ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
FinCEN Rules Digital Precious Metal Certificates Provider is a Money Transmitter:
On Aug. 14 FinCEN issued a ruling applying its virtual currency rules to an e-precious metals company. The...more
Senator Shelby Releases Discussion Draft of Financial Regulatory Bill.
On May 12 Senator Richard Shelby, the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced that the Committee had...more
FDIC Study Shows Branch Banking Has Staying Power: Has your smartphone displaced your bank? According to an FDIC study released on February 19, traditional brick-and-mortar offices are maintaining their primacy, despite...more
2/26/2015
/ Advertising ,
Banks ,
Brokers ,
Compliance ,
Employee Retirement Income Security Act (ERISA) ,
FBAR ,
FDIC ,
Financial Analysts ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Mobile Banking ,
NASD ,
OCC ,
Registered Funds ,
Securities and Exchange Commission (SEC)
Editor’s Note -
CFTC Commissioner Giancarlo Proposes “Pro-Reform Reconsideration” of the Swaps Trading Rules. On January 29, CFTC Commissioner J. Christopher Giancarlo published a whitepaper titled “Pro-Reform...more
Editor’s Note -
Rich Matheny Comments on New Format of OFAC Sanctions List: On January 5, OFAC announced the release of a new format of its Specially Designated Nationals and Blocked Persons (SDN) List. With the new...more
1/15/2015
/ Anti-Money Laundering ,
Broker-Dealer ,
FDIC ,
FinCEN ,
Industry Examinations ,
Investment Adviser ,
No-Action Relief ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Agenda ,
Sanctions ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Transfer Agents
Regulatory Developments -
SEC Proposes Changes to Exchange Act Registration Requirements to Implement JOBS Act Mandates -
The SEC announced that it is proposing rule amendments under the Securities Exchange Act...more
12/24/2014
/ Asset Management ,
Bitcoin ,
BitLicense ,
CPOs ,
Employee Retirement Income Security Act (ERISA) ,
European Securities and Markets Authority (ESMA) ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
FSOC ,
Investment Adviser ,
JOBS Act ,
MiFID ,
NFA ,
Proposed Amendments ,
Registration ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Volcker Rule ,
Year-End Planning
Amendment to Swaps Push-out Provision of Dodd-Frank: Section 630 of the recently passed Consolidated and Further Continuing Appropriations Act, 2015 (“Omnibus Spending Bill” – see p. 249) amends Section 716 of the Dodd-Frank...more
12/19/2014
/ Appropriations Bill ,
Asset Management ,
Bank Holding Company ,
Business Development Companies ,
Cuba ,
Dodd-Frank ,
Enforcement Actions ,
ETFs ,
FBAR ,
Federal Reserve ,
FinCEN ,
Global Systemically Important Banks (G-SIBs) ,
Initial Public Offering (IPO) ,
Office of Foreign Assets Control (OFAC) ,
Push-Out Requirements ,
Securities and Exchange Commission (SEC) ,
Swaps ,
Toys R Us
The SEC first proposed a study of the fiduciary obligations of brokers and investment advisers as required by the Dodd-Frank Act in July 2010. The SEC still has not made a decision about the shape of a fiduciary rule for...more
11/13/2014
/ Bank Holding Company Act ,
Cybersecurity ,
Dodd-Frank ,
ETMFs ,
Exemptive Relief ,
FDIC ,
Federal Reserve ,
FFIEC ,
FinCEN ,
Leveraged Lending ,
Money Services Business ,
OCC ,
Peer-to-Peer ,
Securities and Exchange Commission (SEC)
In this issue:
- In preliminarily denying two exemption requests, the SEC takes a stand for market transparency in ETFs and upholds the arbitrage mechanism that allows market prices to closely track NAVs.
-...more
10/30/2014
/ ABS ,
Administrative Hearings ,
Arbitrage ,
Asset-Backed Securities ,
Bank Secrecy Act ,
Disclosure Requirements ,
Enforcement Actions ,
ETFs ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Flood Insurance ,
Flood Zones ,
Money Services Business ,
Municipal Advisers ,
NAV ,
New Regulations ,
Private Equity Funds ,
Proposed Regulation ,
Risk Retention ,
Securities and Exchange Commission (SEC) ,
Transparency ,
Virtual Currency