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Financial Institutions Amended Regulation

A&O Shearman

European Securities and Markets Authority Consults on Amendments to Markets in Financial Instruments Directive Research Regime

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The European Securities and Markets Authority has published a consultation on amendments to the research provisions in the revised Markets in Financial Instruments Directive following changes introduced by the Listing Act....more

Troutman Pepper

Amendments and Clarifications to the Small Business Investment Company Investment Diversification and Growth Rules

Troutman Pepper on

On January 19, the U.S. Small Business Administration (SBA) published a direct and final rule (the rule), including substantive and technical amendments and clarifications to the Small Business Investment Company Investment...more

Constangy, Brooks, Smith & Prophete, LLP

New York amends Cybersecurity Regulation that applies to financial services industry

The New York Department of Financial Services recently amended its Cybersecurity Regulation. The revisions aim to strengthen cybersecurity and technology controls to address evolving threats to consumer data and ensure the...more

WilmerHale

NYDFS Finalizes Amendments to Cybersecurity Regulations

WilmerHale on

On November 1, 2023, New York Department of Financial Services (NYDFS or the “Department”) released the finalized revisions (the “Second Amendment”) to 23 NYCRR Part 500 (Part 500) – the most significant modifications to Part...more

Paul Hastings LLP

NYDFS Releases Major Update to Part 500 Cybersecurity Requirements for Financial Services Companies

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The New York Department of Financial Services (NYDFS) adopted a long-expected amendment to its Part 500 Cybersecurity Regulations (Part 500) this week. These are the first significant changes to Part 500 since its inception...more

Ballard Spahr LLP

Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

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The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules,...more

Troutman Pepper

Bipartisan Bill Would Require Federal Regulators to Create “Risk-Focused Examination and Review” Processes for Cryptocurrency...

Troutman Pepper on

On July 13, U.S. Senators Cynthia Lummis (R-WY), Kirsten Gillibrand (D-NY), Elizabeth Warren (D-MA), and Roger Marshall (R-KS) introduced an amendment to the National Defense Authorization Act (NDAA) that seeks to examine the...more

Conyers

Recent Regulatory Developments Affecting BVI Mutual Funds and Private Investment Funds

Conyers on

Requirement to appoint a Money Laundering Reporting Officer (“MLRO”) - Under the Anti-Money Laundering Regulations (Revised Edition 2020), as amended by the Anti-Money Laundering (Amendment) Regulations, 2022, and the...more

BakerHostetler

New York Department of Financial Services Publishes Proposed Second Amendment to Its Cybersecurity Regulation

BakerHostetler on

On Nov. 9, 2022, the New York State Department of Financial Services (NYDFS) published a proposed second amendment to its cybersecurity regulation. This follows its pre-proposed amendment that was published on July 29. ...more

BCLP

NY DFS Cybersecurity Symposium: More Rigorous Rules, Exams and Enforcement Ahead

BCLP on

The New York Department of Financial Services (“DFS”) is turning up the heat on cybersecurity once again. During its first-ever Cybersecurity Symposium on March 29, DFS announced a series of new measures that will require...more

Perkins Coie

Strict Liability for Debt Collectors Attempting to Collect a Time-Barred Debt Through Litigation

Perkins Coie on

In 2020, the Consumer Financial Protection Bureau (CFPB) promulgated 12 C.F.R. § 1006.26, amending Regulation F, to implement and interpret the Fair Debt Collection Practices Act (FDCPA). It will become effective on November...more

BCLP

Remuneration Code changes now in force - What do you need to know?

BCLP on

Amendments have been made to the FCA’s Dual-Regulated firms Remuneration Code under SYSC 19D and the Remuneration Part of the PRA Rulebook (together the “Remuneration Codes”) to implement the remuneration aspects of the EU...more

Jones Day

Volcker Rule Covered Fund Amendments Provide Clarity and Opportunities

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The Situation: The Federal Reserve, Office of the Comptroller of the Currency ("OCC"), Federal Deposit Insurance Corporation ("FDIC"), Securities and Exchange Commission ("SEC"), and Commodity Futures Trading Commission...more

Polsinelli

Proposed Changes to the Volcker Rule

Polsinelli on

On January 30, 2020, the U.S. Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency, Treasury (OCC), the Board of Governors of the Federal Reserve System (“Fed”), the Federal Deposit...more

A&O Shearman

EMIR 2.2 Regulation on the Authorization and Recognition of CCPs Published

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A new Regulation amending the European Market Infrastructure Regulation has been published in the Official Journal of the European Union, introducing changes to the procedures and authorities involved in the authorization of...more

Ballard Spahr LLP

Michigan Adopts Temporary Authority Provisions

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Michigan has joined a number of states that have amended its statutes to grant certain individuals temporary authority to act as a mortgage loan originator while a license application is pending, in conformity with the...more

Ballard Spahr LLP

Wisconsin Adopts Temporary Authority Provisions

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Wisconsin is the latest state to pass legislation amending its statutes to add provisions addressing temporary authority to operate as a mortgage loan originator while a license application is pending pursuant to the federal...more

Ballard Spahr LLP

Washington State Adopts Temporary Authority Provisions

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Washington State has enacted legislation amending its regulations to permit temporary authority to operate as a mortgage loan originator...more

Robinson+Cole Data Privacy + Security Insider

From California to Nevada: Another State Privacy Law That You Need to Know

While we’ve all discussed the California Consumer Privacy Act (CCPA) at length, Nevada was busy amending its internet privacy law and in the process beat California’s deadline for the effective date by three months. Nevada’s...more

Cadwalader, Wickersham & Taft LLP

Volcker 2.0

On August 20, 2019, the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) adopted final regulations (the “Amended Final Regulations”) revamping the regulations...more

Jones Day

OFAC Dramatically Expands Reporting Obligations

Jones Day on

Ambiguous, undefined terms create uncertainty and confusion, including whether owned or controlled subsidiaries of U.S. companies outside the United States are subject to this reporting requirement. On June 21, the...more

A&O Shearman

US Federal Reserve Proposes Broadened Application of US Netting Provisions

A&O Shearman on

The Board of Governors of the Federal Reserve System has proposed amendments to Regulation EE, which implements the netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991. The proposed...more

A&O Shearman

New EU Requirements On Minimum Loan Loss Coverage For Newly Originated Loans

A&O Shearman on

An EU Regulation amending the Capital Requirements Regulation introducing a statutory prudential backstop, and requiring banks to have minimum loan loss coverage for newly originated loans, has been published in the Official...more

White & Case LLP

Europe reaches for a new normal on NPLs - Will recent regulatory developments have their desired impact on the NPL market across...

White & Case LLP on

NPLs are a hot topic, high on the European supervisory authorities' agenda. Legislative and prudential requirements to reduce NPLs are rapidly evolving. In March of 2018, the EC published a package of reforms aimed at...more

Akin Gump Strauss Hauer & Feld LLP

In Principle - 10 Things Authorised Firms Need To Know For 2019

In the 2018 edition of this publication, we ended the introduction with the line, “We can only hope that we will enter 2019 with greater certainty than 2018 as to how the regulatory landscape will look.” Unfortunately,...more

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