The OCC announced on Tuesday, July 31, that it would begin accepting applications for special purpose national bank (SPNB) charters from FinTech companies engaged in the business of banking. The agency released a Policy...more
The Office of the Comptroller of the Currency (the OCC) has released a draft supplement to its Licensing Manual that explains the process for an entity engaged in financial technology—or FinTech—activities to charter a...more
The Office of the Comptroller of the Currency (the OCC) plans to consider applications from companies engaged in financial technology—or FinTech—activities to operate through a national bank charter and has released a paper...more
The Volcker rule generally prohibits banking entities from engaging in proprietary trading and from sponsoring and/or investing in certain types of “covered” investment funds. The implementing regulation that the Agencies...more
7/20/2015
/ Business Development Companies ,
CFTC ,
Covered Banking Entity ,
FDIC ,
Federal Reserve ,
Investment Adviser ,
Investment Companies ,
New Guidance ,
OCC ,
Proprietary Trading ,
Securities and Exchange Commission (SEC) ,
Seed Financing ,
Volcker Rule
Regulatory Developments -
CFTC Provides No-Action Relief from Introducing Broker and Commodity Trading Advisor Registration to Non-U.S. Persons Who Advise on or Facilitate Swaps Transactions for Certain International...more
6/18/2015
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Brokers ,
CFTC ,
Civil Monetary Penalty ,
Community Banks ,
Enforcement ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
FinCEN ,
Investment Adviser ,
No-Action Letters ,
No-Action Relief ,
Reporting Requirements ,
Swap Dealers ,
Swaps
Regulatory Developments:
SEC Chair Highlights Recent Accomplishments -
In a June 4, 2015 speech, SEC Chair Mary Jo White highlighted recent activities of the SEC and identified work to be done in the near future....more
6/11/2015
/ Avon ,
Banks ,
Broker-Dealer ,
Comptroller ,
Dodd-Frank ,
EDGAR ,
FDIC ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Investment Adviser ,
JOBS Act ,
Market Manipulation ,
National Bank Act ,
Securities and Exchange Commission (SEC)
The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (the "SEC") issued a final rule, and the Commodity Futures...more
12/20/2013
/ Asset Management ,
Asset-Backed Securities ,
Bank Holding Company Act ,
Banks ,
Bonds ,
CFTC ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
Fiduciary Duty ,
Financial Market Utilities ,
FSOC ,
Joint Venture ,
Life Insurance ,
Nonbank Firms ,
OCC ,
Pensions ,
Private Funds ,
Proprietary Trading ,
REIT ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
SIFIs ,
Subsidiaries ,
Tender Offers ,
Venture Capital ,
Volcker Rule