In this issue:

- US Federal Reserve Board Implements Changes to the Name Check Process for Domestic and International Banking Applications

- US Federal Reserve Board Grants Financial Holding Company Status to South Korea-Based Company and Subsidiary

- US Regulatory Agencies Issue Host State Loan-to-Deposit Ratios

- Final Draft Implementing Technical Standards on Supervisory Reporting for Liquidity Coverage Ratio

- European Systemic Risk Board Publishes Recommendations on Misconduct Risk

- UK Regulators Publish Further New Rules on Remuneration

- European Guidelines on Periodic Information Reporting Requirements for Credit Rating Agencies

- European Securities and Markets Authority Issues Public Notice to European Credit Rating Agency

- US Commodity Futures Trading Commission Issues Proposed Rule on Cross-Border Margin

- Payments Systems Regulator Issued Call for Input on Card Payment Systems

- UK Regulators Propose New Rules for Regulating Credit Unions

- UK Regulator Publishes Discussion Paper on Delivering Smarter Communications to Consumers

- Proposals Published for Updating the 2004 Report on International Regulatory Standards on Fees and Expenses

- John Roeser Named Associate Director of the US Securities and Exchange Commission Office of Market Supervision

- European Securities and Markets Authority Board of Supervisors Appoints New Chairs of its Standing Committees

- Upcoming Events

- Excerpt from US Federal Reserve Board Implements Changes to the Name Check Process for Domestic and International Banking Applications:

On June 25, 2015, the Federal Reserve Board issued a supervisory letter implementing changes to the “name check” process for banking applications. Under the previous process, a name check was conducted on all proposed officers and/or new principle shareholders of a supervised financial institution involved in an application under consideration by the Federal Reserve Board. The new name check process will only be conducted for individuals that will become principal shareholders or one of the top two policymakers of the organization upon consummation of the process. In the case of a group acting in concert, name checks generally will be initiated on all individual group members with five percent or greater individual ownership interests. A completed name check will remain current for five years; individuals and companies with current name checks will generally not be rechecked unless circumstances indicate otherwise. In addition, the Federal Reserve Board will obtain credit bureau reports in certain limited situations to supplement and corroborate financial information provided in the application process. The guidance is applicable to all financial institutions supervised by the Federal Reserve Board, including those with $10 billion or less in consolidated assets.