Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more
SEC Adopts Rules for Enhanced Regulatory Framework for Securities Clearing Agencies - On September 28, 2016 the Securities and Exchange Commission ("SEC") voted to adopt new rules to establish "enhanced standards for the...more
Bureau of Consumer Financial Protection Issues Policy on No-Action Letters - On February 18, the Consumer Financial Protection Bureau issued a new policy statement on No-Action Letters. Under the Policy, Bureau...more