Fed Launches New Phase in Bank Oversight with Tougher Rules for Systemic Institutions

The Federal Reserve Board Dec. 20 asked for comment by March 31 on a tougher set of regulatory standards for financial firms critical to the well-being of the financial system, leaving some specific items, such as a special risk-based surcharge, to be addressed in follow-up proposals…

BNA INSIGHTS: The Consumer Financial Protection Bureau’s Authority to Regulate ‘Abusive’ Consumer Financial Products and Services

The Bureau of Consumer Financial Protection (CFPB) has been given a broad and vaguely-defined power to prohibit and punish “unfair, deceptive, and abusive financial practices.”…

BNA INSIGHTS: The ‘Conflict Minerals’ Law Will Impose New Supply Chain Challenges for Companies: Who, What, and When

Even as global supply chains become ever more byzantine, a new US law and proposed implementing rule of the US SEC will add another wrinkle…

BNA INSIGHTS: Volcker Rule Proposal Highlights Regulatory Challenges to Implementation

The Volcker Rule was designed to address a major concern about the investment banking business: that commercial financial institutions not be allowed to engage in proprietary trading by using customers’ deposits to trade on the bank’s own account…

BNA INSIGHTS: CFTC’s New Whistleblower Office Opens for Business

On October 24, 2011, the Commodity and Futures Trading Commission’s (CFTC) whistleblower rules became effective and its Whistleblower Office opened for business…

SEC Adopts Scaled-Back Hedge, Private Fund Adviser Risk Reporting Rule

The Securities and Exchange Commission Oct. 26 unanimously adopted a rule that will require hedge and other private fund advisers to report information—scaled to the size and types of funds—that will be used by the Financial Stability Oversight Council to assess systemic risk…

BNA INSIGHTS: The SEC Adopts a Large Trader Reporting System: New Rule 13h-1

On July 27, 2011, the SEC (or “Commission”) adopted Rule 13h-1 and Form 13H under the Securities Exchange Act of 1934 (“Exchange Act”), which requires persons who are deemed to be large traders to register with, and to provide certain information about themselves and their affiliates to, the Commission…

SEC, Banking Regulators Propose Rule To Ban Proprietary Trading By Banks

Federal banking regulators Oct. 11 issued a controversial and long-awaited proposalto bar, with certain exemptions, banking entities from engaging in proprietary trading, and to limit their investment and sponsorship of hedge and private equity funds…

Industry Experts Fear Big Banks Will Withdraw if U.S. Swaps Rules Too Strict

Several financial industry experts said Sept. 22 that one of their key fears as regulators implement the Dodd-Frank Wall Street Reform and Consumer Protection Act is that bigger industry participants with the means to do so will decide to conduct business in jurisdictions outside the United States with friendlier regulatory environments…

FDIC Clears Final Rules on ‘Living Wills,’ Sets Flexible Implementation Schedule

The Federal Deposit Insurance Corporation (FDIC) Sept. 13 cleared a final rule on so-called living wills mandated for certain large banks and critical nonbank financial firms, along with some extra time to put those plans in place…

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