Financial Regulatory Developments Focus - March 2015 #2

In this issue:

- Federal Reserve Board Releases Results for 2015 Comprehensive Capital Analysis and Review

- Revised List of Validation Rules Issued by European Banking Authority for Supervisory Reporting

- UK Regulators Consult on Extending Rules to UK Branches of Non-EEA Institutions

- UK Regulator Publishes Guidance on Risks Posed to Consumers by Inappropriate Performance Management Practices

- US Commodity Futures Trading Commission Solicits Public Comment in Response to the US District Court Order Regarding Cross-Border Litigation

- Federal Reserve Board and Other Agencies Announce Civil Money Penalty and Cease and Desist Order Against Commerzbank

- Launch of New UK Payments System Regulator

- Bank of England Publishes Annual Report on Supervision of Financial Market Infrastructures

- Review of CCP Stress Testing

- UK Regulator Publishes Timetable for Implementation of Markets in Financial Instruments Directive and Regulation

- European Banking Authority Consults on Business Reorganization Plans Under the Bank Recovery and Resolution Directive

- UK HM Treasury Publishes Revised Special Resolution Regime Code of Practice

- Events

- Excerpt from Federal Reserve Board Releases Results for 2015 Comprehensive Capital Analysis and Review:

On March 11, 2015, the US Board of Governors of the Federal Reserve System announced that it has not objected to the capital plans of 28 bank holding companies participating in the Comprehensive Capital Analysis and Review. However, Bank of America Corporation is required to submit a new capital plan to address weaknesses in its capital planning processes. The Federal Reserve Board did object to the capital plans of Deutsche Bank Trust Corporation and Santander Holdings USA due to qualitative concerns. There were no objections based on quantitative grounds. Goldman Sachs Group, Inc., JPMorgan Chase & Co., and Morgan Stanley needed to submit adjusted capital actions to meet the minimum post-stress minimum capital requirements.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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