JONES DAY TALKS®: Financial Regulators and Asset Managers Warm to Acknowledging Climate Risks
The past year has seen a flurry of crypto-related activities by the federal financial regulators, including the issuance of reports, guidance, joint statements, and interpretive letters....more
In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more
In new alerts, both state and federal regulators are cautioning the financial services industry about heightened cybersecurity risk amid a climate of increased geopolitical tensions....more
In the latest battle over the Office of the Comptroller of the Currency’s (OCC’s) plan to issue special purpose national bank (SPNB) charters, a D.C. federal judge has for a second time dismissed a lawsuit brought by the...more
Financial technology news includes the continuing battle over the Office of the Comptroller of the Currency’s (OCC) plan to issue special-purpose national bank (“fintech”) charters, with the agency seeking to dismiss lawsuits...more
Finding the action unripe, a federal court judge has dismissed the New York Department of Financial Services’ (DFS) challenge to the Office of the Comptroller of the Currency’s (OCC) decision to grant special purpose national...more
On November 7, 2017, in the midst of a pending examination by, and implementation of previously agreed upon consent orders with, the New York State Department of Financial Services (“DFS”), the Bank of Tokyo Mitsubishi UFJ...more
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more
As the comment period ended on the Office of the Comptroller of the Currency's (OCC) proposal to establish a fintech charter, stakeholders weighed in on both sides of the idea....more
Last year was the first that national banks and federal savings associations subject to supervision by the Office of the Comptroller of the Currency (“OCC”) were armed with a sense of the agency’s regulatory expectations when...more
In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more
Both federal and state officials recently proposed new regulations aimed at the financial sector in an effort to promote protection against high-impact technology failures and cyberattacks...more
On September 13, 2016, the New York Department of Financial Services (DFS) proposed new first-in-the-nation cybersecurity regulations (Regulations) that would require banks and other financial institutions to adopt minimum...more
In April, the Office of the Comptroller of the Currency issued a bulletin specifically aimed at banks' use of internal messaging software. The bulletin was issued to "remind" banks of their obligations related to the...more
Federal Reserve Announces Extension of Conformance Period under Section 13 of the Bank Holding Company Act - On July 7, 2016, the Federal Reserve announced that it will extend until July 21, 2017 the conformance period...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
Federal and state banking regulators have broad and largely discretionary supervisory and enforcement powers over the financial institutions they regulate, which include banks and their affiliates. Key regulators in this area...more
A federal judge recently dismissed a complaint brought by the New York Bankers Association (NYBA) seeking to invalidate the New York City Responsible Banking Act (the Responsible Banking Act). In New York Bankers Ass’n Inc....more