Bank Prudential Regulation & Regulatory Capital -
US Board of Governors of the Federal Reserve System Releases Proposed Rule to Modify Capital Plan and Stress Testing Rules -
On September 26, 2016, the US Board of...more
10/17/2016
/ Block Trades ,
BSA/AML ,
Commodities ,
Cross-Border Transactions ,
EU ,
FinTech ,
Foreign Investment ,
MiFID II ,
Securitization ,
SEFs ,
Shadow Banking ,
Stress Tests ,
UK ,
Underwriting ,
Whistleblower Protection Policies
In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more
9/30/2016
/ Asset Management ,
Banking Regulators ,
Banking Sector ,
Banks ,
Broker-Dealer ,
EU ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Global Market ,
Investment Firms ,
MiFID
In May 2015, we reported on proposals by the Securities and Exchange Commission to expand public disclosures by registered investment advisers (“RIAs”) of various aspects of their separately managed accounts (“SMA”)...more
Since the UK voted to leave the EU on 23 June 2016, there has been much speculation about the form of the future access arrangements between the UK and the EU for financial institutions. In a scenario where no new deal is...more
A rule proposed by the US Securities and Exchange Commission under the Investment Advisers Act of 1940 would require SEC-registered investment advisers to adopt and implement written business continuity and transition plans...more
The UK electorate voted to leave the European Union (EU) in the “Brexit” referendum held on 23 June 2016. This note looks at the practical impact of a Brexit for fund managers, including possible solutions in the event that...more
On Thursday 23 June 2016, the UK electorate voted to leave the European Union. While this vote was advisory in nature, we expect that ultimately the UK Government and Parliament will respect the outcome and serve notice to...more
6/29/2016
/ Acquisition Agreements ,
Article 50 Treaty of the EU ,
Cross-Border Transactions ,
EU ,
EU Directive ,
European Economic Area (EEA) ,
Financial Markets ,
Foreign Judgments ,
Grandfathered Status ,
Member State ,
Merger Agreements ,
Popular ,
Scotland ,
Trade Relations ,
UK ,
UK Brexit ,
Value-Added Tax (VAT) ,
WTO
Every five years, the US Securities and Exchange Commission is required to adjust for inflation the agency’s dollar-based qualification tests for when an SEC-registered investment adviser can receive compensation based on...more
Following the so-called “Brexit” referendum held on 23 June 2016, the UK has narrowly voted to leave the European Union (EU). This note briefly discusses the consequences of the vote to leave, with a particular focus on fund...more
Today, it was announced that the UK public has voted to leave the European Union. There will now be a negotiation of a new relationship between the UK and Europe. The fact of the vote itself has no legal effect on the laws of...more
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
6/23/2016
/ Annual Reports ,
Bank Holding Company ,
Capital Markets Union ,
Capital Requirements ,
Cybersecurity ,
Dodd-Frank ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
Long-Term Investment Funds ,
No-Action Relief ,
UK
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
Every five years, the U.S. Securities and Exchange Commission is required to adjust for inflation the agency’s dollar-based qualification tests for when an SEC-registered investment adviser can receive compensation based on...more
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
6/1/2016
/ Basel III ,
Beneficial Owner ,
Capital Requirements ,
Cross-Border Transactions ,
Customer Due Diligence (CDD) ,
EU ,
Leverage Ratio ,
Leveraged Lending ,
Margin Requirements ,
Recordkeeping Requirements ,
Regulation Technical Standards (RTS) ,
UCITS ,
UK
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
5/6/2016
/ AML/CFT ,
Annuities ,
Asset Management ,
Capital Markets Union ,
Capital Requirements ,
Cross-Border Transactions ,
EU ,
Incentive Compensation ,
Leverage Ratio ,
MiFID II ,
SIFIs ,
UK
On April 18, 2016, the US Financial Stability Oversight Council issued an update on its multi-year review of potential financial stability risks in the asset management industry. This note highlights takeaways from that...more
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
4/22/2016
/ Competition ,
Consultation Periods ,
Consumer Financial Protection Bureau (CFPB) ,
Derivatives ,
Enforcement Actions ,
Enforcement Authority ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
FDIC ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
GAO ,
Global Systemically Important Financial Institutions (GSIFI) ,
High Frequency Trading ,
Richard Cordray ,
Securities and Exchange Commission (SEC) ,
Securitization ,
Standing ,
Stress Tests ,
Swaps ,
U.S. Treasury ,
UK
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
4/15/2016
/ Anti-Inversion Regulations ,
EU ,
FBOs ,
Fiduciary Duty ,
Financial Adviser ,
FinTech ,
FSOC ,
Global Systemically Important Financial Institutions (GSIFI) ,
Leverage Ratio ,
MetLife ,
Terrorism Funding ,
UK
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
4/11/2016
/ Asset Management ,
Blockchain ,
CFTC ,
Corporate Governance ,
Cybersecurity ,
Economic Sanctions ,
EU ,
Federal Reserve ,
Industry Consolidation ,
Maxwellisation ,
Municipal Securities Issuers ,
Natural Gas ,
Remuneration ,
Stress Tests ,
UK
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
4/1/2016
/ Capital Markets Union ,
EU ,
Eurozone ,
GAAP ,
Interchange Fees ,
MiFID II ,
Mortgage Credit Directive (MCD) ,
Prudential Standards ,
Ring-Fencing ,
SIFIs ,
Small and Medium-Sized Enterprises (SMEs) ,
UCITS V ,
UK ,
UK Payment Systems Regulator
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
3/25/2016
/ Bank Recovery and Resolution Directive (BRRD) ,
Central Counterparties ,
Cuba ,
Deposit Insurance ,
Derivatives Clearing Organizations ,
Dodd-Frank ,
EU ,
Foreign Exchanges ,
Goldman Sachs ,
Insider Trading ,
Payment Systems ,
Sanctions ,
UK ,
Volcker Rule
The UK is holding a referendum on 23 June 2016 to decide whether or not to remain a member of the European Union. There seems to be a disconnect between some aspects of public discourse on the vote and the actual effect of an...more
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
3/18/2016
/ Basel Committee on Banking Supervision (BCBS) ,
Credit Default Swaps ,
EU ,
FDIC ,
Federal Savings Associations ,
International Banks ,
Libor ,
Market Abuse ,
Regulatory Agenda ,
Ring-Fencing ,
Securities and Exchange Commission (SEC) ,
Senior Managers ,
Transfer Pricing ,
UK ,
Volcker Rule
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
3/3/2016
/ Bank Secrecy Act ,
Banking Examinations ,
Cooperation ,
Enforcement Actions ,
EU ,
Money Transfer ,
MREL ,
Payment Systems ,
Stress Tests ,
UK ,
Volcker Rule