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K&L Gates LLP

Managing Artificial Intelligence: The Monetary Authority of Singapore's Recommendations on AI Model Risk Management

K&L Gates LLP on

Introduction and Background - On 5 December 2024, as part of the Monetary Authority of Singapore’s (MAS) incremental efforts to ensure responsible use of artificial intelligence (AI) in Singapore’s financial sector, MAS...more

Cadwalader, Wickersham & Taft LLP

Changes Afoot

As the new administration settles in, it has begun to catalyze significant changes in the bank supervisory and regulatory environment. The FDIC is the first mover in this effort. Longtime director and sometime Chairman Martin...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK and EU Bank Remuneration Regimes Begin To Diverge

In the aftermath of the 2007-09 global financial crisis, the G20 nations committed to reforming bank remuneration frameworks in response to criticism that excessive risk-taking at banks incentivised by poorly structured pay...more

Orrick, Herrington & Sutcliffe LLP

House Republicans urge FDIC to withdraw corporate governance guidelines

Recently, a group of House Republicans sent a letter to Martin Gruenberg, Chairman of the FDIC, expressing concerns regarding the proposed corporate governance and risk management guidelines that would apply to all insured...more

Davis Wright Tremaine LLP

Bank Regulatory Considerations in a Second Trump Administration – What Could Change, What Could Stay the Same

While the coming weeks and months will provide more clarity, we already can anticipate some indications of what is in store for bank regulation, supervision, and enforcement in a second Trump Administration. To help navigate...more

Mayer Brown

Launch of the Banking Industry Integrity Charter in Hong Kong

Mayer Brown on

Hong Kong’s new Banking Industry Integrity Charter (Integrity Charter) was launched on 9 October 2024 by the Independent Commission Against Corruption (ICAC) in collaboration with the Hong Kong Monetary Authority (HKMA) and...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23-29 Feb 2024

A&O Shearman on

Amongst the broad range of updates this week, at international level, the FSB published its thematic peer review on MMF Reforms and the BCBS published the outcomes of its meeting held on 28 and 29 February, including that it...more

Latham & Watkins LLP

Hong Kong Monetary Authority Issues Guidance for Banks on Crypto Custody and Sale of Tokenised Products

Latham & Watkins LLP on

Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products. On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published two...more

Conyers

Beyond the Betrayal: Navigating Strategies for Victims of APP Fraud

Conyers on

Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in 2023. With consumer protection laws...more

A&O Shearman

UK Regulators Confirm Bonus Cap Being Scrapped

A&O Shearman on

The U.K. Prudential Regulation Authority and Financial Conduct Authority have published a joint policy statement confirming the "bonus cap" will be removed. Banks are subject to compensation requirements for staff who have a...more

Cadwalader, Wickersham & Taft LLP

Hong Kong’s Central Banking Institution Directs Banks to Ramp Up Net Zero Transition Planning

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de facto central banking institution, issued a directive for banks setting out high-level principles on planning for a transition to a net-zero economy. In a “Dear CEO”...more

Cadwalader, Wickersham & Taft LLP

Basel Committee Issues Guidance on Core Principles for Effective Banking Supervision

In April 2022, the Basel Committee on Banking Supervision (the Basel Committee) began a review of “the core principles for effective banking supervision” (Core Principles or CP). Last month, the Basel Committee published...more

Cadwalader, Wickersham & Taft LLP

UN-Initiated and Bank-Led Working Group Formed to Encourage Banks to Achieve Biodiversity Targets

On May 4, 2023, the United Nations announced the formation of a 35-member bank-led working group to promote nature- and biodiversity-related target setting that is aligned with the Kunming-Montreal Global Biodiversity...more

Cadwalader, Wickersham & Taft LLP

UK's PRA Sets Regulatory Priorities for International Banks

On 10 January, the UK’s Prudential Regulation Authority (“PRA“) wrote to international banks active in the UK to update them on regulatory priorities for 2023. While these clearly reflect current macroeconomic drivers,...more

Cadwalader, Wickersham & Taft LLP

Greenwashing: Research Suggests European Banks “not doing enough to address ... climate change and biodiversity loss”

The UK-based responsible investing non-profit ShareAction announced the publication of a report into the biodiversity and climate strategies of the 25 largest European banks, measured by total assets. The report concludes...more

Cadwalader, Wickersham & Taft LLP

OCC Issues Its Semiannual Risk Perspective

The Office of the Comptroller of the Currency (“OCC”) issued its Semiannual Risk Perspective for Spring 2022 on June 23. This was the same day the Federal Reserve released the results of its stress test for large bank holding...more

Bilzin Sumberg

Banking Groups Protest Against Expected ESG Regulations

Bilzin Sumberg on

We’ve provided insights previously about increased regulatory and litigation activity related to Environmental, Social and Governance (ESG) disclosures by companies to current and prospective investors. For those not yet...more

Cadwalader, Wickersham & Taft LLP

Basel Committee Issues Principles on Management and Supervision of Climate-Related Financial Risks

On June 15, the Basel Committee on Banking Supervision (“BCBS”) issued its Principles for the effective management and supervision of climate-related financial risks (the “Principles”). In its release, the BCBS stated that it...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

Moore & Van Allen PLLC

OCC Releases Bulletin on Fraud Risk Management Principles

In the aftermath of sales practices, the Office of the Comptroller of the Currency (OCC) recently published a bulletin on fraud risk management principles that are applicable to all federally chartered financial institutions....more

Spilman Thomas & Battle, PLLC

Cybersecurity: What You Must Know and What You Must Do

On February 1, 2016, the Federal Deposit Insurance Corporation (“FDIC”) published the Winter 2015 issue of Supervisory Insights. Not surprisingly, the first article dealt with the most important issue facing the financial...more

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