News & Analysis as of

Financial Regulatory Agencies Compliance

Barnea Jaffa Lande & Co.

Israeli Capital Market, Insurance and Savings Authority Issues New and Revised Circulars

The emerging risks in the financial services market and the inception of the Regulation of Payment Services and Payment Initiation Law prompted the Capital Market, Insurance and Savings Authority (CMISA) to amend a series of...more

Goodwin

Supervisory Experience and Enforcement Actions Continue to Drive Supervisory Priorities and Policy Development

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This article identifies themes we have observed in recent public formal enforcement actions issued to institutions by the US federal bank regulatory agencies (Agencies) — the Board of Governors of the Federal Reserve System...more

Latham & Watkins LLP

Agencies Issue Joint Proposal to Amend Bank Secrecy Act Compliance Programs for Banks

Latham & Watkins LLP on

On July 19, 2024, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration...more

WilmerHale

FinCEN’s Proposed AML/CFT Program Rule Potentially Heralds a Change in Approach

WilmerHale on

On June 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network announced long-anticipated proposed rules on anti-money laundering and countering the financing of terrorism program effectiveness;...more

Katten Muchin Rosenman LLP

Action Required: Corporate Transparency Act Reporting Is Here

This advisory provides a general summary of the Corporate Transparency Act and its requirements and is not intended to, and does not, provide legal, compliance or other advice to any individual or entity....more

American Conference Institute (ACI)

[Event] 29th Annual Flagship Conference on Regulatory Compliance for Financial Institutions - November 21st - 22nd, Toronto, ON,...

Don’t miss the opportunity to gain valuable insights from industry experts at Canadian Institute’s Annual Flagship Conference on Regulatory Compliance for Financial Institutions. This event will equip you with strategies to...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - August 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

BakerHostetler

NYS DFS Focuses on Cybersecurity Violations and Increasing Crypto Resources

BakerHostetler on

On May 1, 2023, the New York State Department of Financial Services (DFS or Department) issued a consent order (Consent Order), imposing a $1.2 million fine on bitFlyer USA, a cryptocurrency trading platform and custodial...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2023

FDIC and OCC Issue Guidance on Authorize Positive, Settle Negative Overdraft Fee Risks. The FDIC and the OCC each have issued supervisory guidance on consumer compliance risk exposure related to the assessment of overdraft...more

Troutman Pepper

Crypto Year in Review 2022: Crypto Enforcement and the U.S. Treasury - The Crypto Exchange Podcast

Troutman Pepper on

In the fourth and final segment of our four-part Crypto Year in Review series, Ethan Ostroff, Keith Barnett, and Carlin McCrory discuss how the U.S. Treasury Department — including the Office of Foreign Asset Control (OFAC)...more

Morgan Lewis

SEC Adopts Rule Amendments to Electronic Recordkeeping Requirements

Morgan Lewis on

On October 12, 2022, the US Securities and Exchange Commission (SEC or Commission) adopted amendments (Final Rules) to the electronic recordkeeping requirements applicable to broker-dealers, security-based swap dealers, and...more

Pillsbury Winthrop Shaw Pittman LLP

NYDFS Continues Series of Fair Lending Enforcement Actions against New York State-Chartered Banks

NYDFS is closely evaluating fair lending compliance at the institutions it regulates, and bringing enforcement actions based on statistical analyses of lenders’ loan portfolios. NYDFS has entered into a series of consent...more

BakerHostetler

FinCEN Requires Wide Array of Companies To Report Beneficial Ownership Information To Strengthen Transparency of US Financial...

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On September 29, 2022, FinCEN issued a final rule requiring most corporations, limited liability companies and other entities created in or registered to do business in the United States to report information regarding their...more

Epiq

Planning for a Remediation: Proactive Considerations for Financial Institutions

Epiq on

Financial institutions are more regularly dealing with voluntary remediations and public consent order activity due to heightened scrutiny by regulators and changing internal policies. These events can be complex and also...more

Goodwin

Are the SEC and FINRA Moving to the Metaverse?

Goodwin on

​​​​​​​Are the SEC and FINRA setting up shop in the metaverse? Not quite yet, but we stress yet! Like private sector businesses, U.S. financial services regulators are increasingly exploring what the metaverse, augmented...more

American Conference Institute (ACI)

[Virtual Conference] Regulatory Compliance for Financial Institutions - November 23rd - 24th, 8:45 am - 5:00 pm EST

ACI’s 27th Annual Flagship Conference on Regulatory Compliance for Financial Institutions will take place virtually on November 23 – 24, 2021 (EST). Join regulators and industry peers for a series of in-depth discussions...more

McDermott Will & Emery

Climate Change Risks and US Insurance Industry Regulation

In late November 2020, we published a high-level review of insurance regulatory developments relating to climate change, available here. In the six weeks since, regulators and industry participants on both sides of the...more

American Conference Institute (ACI)

[Virtual Event] Women Leaders in Financial Services Law and Compliance - December 4th, 8:30 am - 5:00 pm EST

Join ACI’s Women Leaders in Financial Services Law & Compliance and participate in comprehensive discussions regarding the challenges and opportunities facing women in finance and engage in conversations about the key legal...more

Hudson Cook, LLP

The Different Flavors of RegTech and SupTech: How Companies and Regulatory Agencies Are Leveraging Technology to Improve...

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When the calendar turned to 2020, my first thought was about how futuristic the year sounded and what kind of interesting things it had in store. At that time, no one could possibly have imagined that some of those...more

WilmerHale

COVID-19: Federal Regulators Provide Limited AML Relief in Coronavirus Response, and Limited Support for the Use of Technology in...

WilmerHale on

In this alert, we summarize recent guidance from federal regulators and self-regulatory organizations - including the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), the Office of...more

McGlinchey Stafford

Federal and State Regulators Issue Joint Guidance Encouraging Financial Services Companies to Responsibly Accommodate Borrowers...

McGlinchey Stafford on

We have been in close communication with our financial services clients to provide timely guidance on how to handle the evolving implications of coronavirus disease 2019 (COVID-19).  Many clients have raised concerns...more

Hudson Cook, LLP

Compliance: Setting up a Preventative Maintenance Compliance Budget

Hudson Cook, LLP on

Prioritizing compliance with federal and state law may be the last item on your never ending to-do list. Most days, you have bigger fish to fry - you want to increase sales and decrease overhead. However, a small investment...more

Hanzo

The Complete Guide to SEC Rule 17a-4 for Compliance Professionals

Hanzo on

Looking for a great weekend read? You could turn to a classic novel, work your way through the list of articles you were too busy to read at work, or curl up with your favorite beverage and reread Securities Exchange...more

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