The “move fast and break things” mantra of the tech world rubs up against a more rigid banking industry as the two find their way in the cloud—but is more legislation really necessary?
Regulatory Policy
Posted inData Privacy
Sen. Wyden introduces ‘strongest-ever’ privacy bill
Sen. Ron Wyden (D-Ore.) has introduced an updated version of his previously drafted data privacy bill that threatens jail time for executives at corporations that misuse Americans’ data.
Posted inRegulatory Policy
Congressman Cummings passes away
Rep. Elijah Cummings (D-Md.) died following complications concerning longstanding health challenges, his office announced. He was 68.
Posted inFinancial Services
Fed rule tailors bank regulations to link requirements to risk
The Federal Reserve Board of Governors approved final rules that tailor its regulations for domestic and foreign banks to more closely link regulatory requirements to the institutions’ risk profiles.
Posted inRegulatory Policy
SEC’s ‘test-the-waters’ rule could be boon for future IPOs
The SEC has adopted a rule that allows companies interested in potentially going public to gauge interests in IPOs, instead of just emerging growth companies covered under the current rule.
Posted inRegulatory Policy
Agencies finalize changes to Volcker rule
Recently proposed amendments to the Volcker rule designed to simplify compliance requirements were finalized this week.
Posted inRegulatory Policy
More foreign investments to be scrutinized under Treasury proposals
The Committee on Foreign Investment in the United States (CFIUS) will have a bigger role in assessing a deal’s impact on national security after two recent proposals by the Treasury Department.
Posted inFinancial Services
OCC eases stress-testing requirements for banks
New OCC requirements mean national banks and federal savings associations with assets under $250 billion will no longer have to self-administer stress tests annually.
Posted inRegulatory Policy
Upcoming regulatory events this fall
Fall is a busy time for regulators across the compliance landscape. Take note of upcoming events, plus some early conference registration news.
Posted inAML
Bill requiring shell companies to disclose ownership introduced in Senate
Aimed at fighting money laundering, newly proposed legislation looks to mandate full transparency from shell companies on ownership and also fosters greater communication between financial institutions and law enforcement agencies.
