Understanding Scope of Practice
Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
Regulatory Developments - FDIC Publishes Consumer Compliance Supervisory Highlights - On April 5, the FDIC published its latest edition of Consumer Compliance Supervisory Highlights (the Highlights). This edition of...more
The Federal Reserve is taking measured steps to better understand the types of cryptoasset-related activities contemplated by its supervised banking organizations. On August 16, 2022, the Board of Governors of the...more
Key Takeaways: ..On August 13, 2021, FINRA issued Regulatory Notice 21-29 (“RN 21-29”) to remind member firms that they must establish and maintain an adequate supervisory system, including written supervisory procedures...more
- The OCIE of the SEC highlights that responses to COVID-19 present important regulatory and compliance issues for SEC registrants, including “heightened risks of misconduct” tied to recent market volatility. - The Risk...more
The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (the SEC) issued a risk alert (the risk alert) on August 12, 2020, highlighting COVID-19 pandemic-related risks and...more
On May 28, 2020, FINRA issued its Regulatory Notice 20-16 sharing firms’ WFH practices observed to date. They include common practices adopted across most industries, as one would expect....more
The Financial Industry Regulatory Authority published its 2019 Report on Examination Findings and Observations (2019 Report) on October 16, 2019. This marks the third annual report of FINRA findings, but in a departure from...more
On October 1st, the Office of the Comptroller of the Currency (OCC) published the Fiscal Year 2020 Bank Supervision Operating Plan (“FY 2020 Plan”). ...more
Randal Quarles, U.S. Board of Governors of the Federal Reserve System Vice Chairman for Supervision, provided brief remarks at the Financial Services Roundtable 2018 Spring Conference. Vice Chairman Quarles noted the...more
A Lincoln Financial Group subsidiary agreed to pay $650,000 to the Financial Industry Regulatory Authority (FINRA) to resolve allegations that it failed to implement sufficient security policies to protect confidential...more
The recently issued 2016 Regulatory and Examination Priorities Letter discloses FINRA’s new initiatives on market integrity and firm culture and reflects a focus on firms’ supervision regarding conflicts of interest and...more
CSBS publishes Draft Model Regulatory Framework to promote consistent state regulation of virtual currency activities and protect consumers in the event of a breach. In March 2014, “Mt. Gox,” one of the largest and best-known...more