- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-05-07T19:47:00
Federal regulators adopted a notice of proposed rulemaking (NPR) on incentive-based compensation requiring large banks to make their executive compensation arrangements “more sensitive to risk.”
The Federal Deposit Insurance Corporation (FDIC), the Treasury Department’s Office of the Comptroller of the Currency (OCC), and the Federal Housing Finance Agency (FHFA) released the NPR on Monday.
Other agencies, including the National Credit Union Administration and the Securities and Exchange Commission, have indicated similar rulemakings are on their agendas.
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A notice of proposed rulemaking to modify the Federal Deposit Insurance Corporation’s Change in Bank Control Act was withdrawn after receiving mixed reviews among the agency’s board of directors.
The Federal Deposit Insurance Corporation proposed to strengthen its approach to evaluating bank mergers under the Bank Merger Act, particularly how it would address factors like competition, financial resources, the convenience and needs of communities, financial stability, and money laundering.
Since the failure of Silicon Valley Bank nearly one year ago, the Federal Reserve Board has revamped its supervisory procedures to respond more quickly and forcefully once it identifies emerging risks at mid-sized and large banks, according to the agency’s vice chair for supervision.
The European Securities and Markets Authority published its final report containing guidance for the use of environmental, social, and governance- and sustainability-related terminology in fund names.
Federal Reserve Board Governor Michelle Bowman argued banking regulators should move from their current reactive posture on banking innovation to a position that actively encourages new technologies, business models, and ideas to solve age-old problems.
The Treasury Department’s efforts to eliminate regulation loopholes that help enable money laundering in the U.S. financial system will remain a top priority as part of the agency’s 2024 national illicit finance strategy.
