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Banking Sector Board of Directors

American Conference Institute (ACI)

[Webinar] Top 5 Game-Changing Regulatory Shifts Impacting Financial Compliance and Board Accountability - September 24th, 1:00 pm...

Don’t miss this complimentary webinar spotlighting the five most pressing regulatory developments reshaping compliance in Canada’s financial sector. From board-level liability, to shifting enforcement priorities, get up to...more

BCLP

Upper Tribunal Ruling in the Case of Craig Donaldson and David Arden (Metro Bank)

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The Upper Tribunal has upheld the FCA’s decision that the CEO and CFO of Metro Bank were knowingly concerned in the Bank’s breach of the Listing Rules....more

Goodwin

Regulatory Process for Forming or Acquiring a Depository Institution

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This third installment in our series of insights on bank charter considerations describes the process for seeking regulatory approval to form or acquire a bank....more

A&O Shearman

PRA fines former notified non-executive director of Wyelands Bank

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The UK Prudential Regulation Authority (PRA) has fined a former non-executive director of Wyelands Bank GBP72,000 for failing to act with due skill, care and diligence in connection with regulatory failings previously...more

K&L Gates LLP

Australia: APRA Proposes Reforms to Strengthen Governance Standards

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The Australian Prudential Regulation Authority (APRA) has proposed reforms to strengthen core prudential standards and guidance on governance, currently set out in SPS 510 Governance, SPS 520 Fit and Proper, and SPS 521...more

Allen Matkins

As Predicted, Silicon Valley Bank Failure Will Test Fiduciary Duties Of Officers And Directors Under California Law

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Late last year, I wrote that the the Board of Directors of the Federal Deposit Insurance Corporation had voted unanimously to approve the staff’s request for authorization to file a suit against six former officers and 11...more

Alston & Bird

New York Passes New Removal Procedures for Officers, Directors, Trustees, and Partners of Any Entity Regulated by Department of...

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What Happened? On December 21, 2024, New York Governor Kathy Hochul, signed into law, S7532, which repealed the existing section of the Banking Law addressing the removal of officers, directors, and trustees of banking...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Summer 2024

Across industries, companies are facing new and uncertain regulatory pressures and demands in areas including artificial intelligence, sustainability, algorithmic pricing and fintech-bank relations. In this issue of The...more

Sheppard Mullin Richter & Hampton LLP

Federal Reserve Board Issues Cease and Desist Order Against Banking-As-A-Service Provider

On June 14, the Federal Reserve Board (Fed) released a cease and desist order against an Arkansas-based banking-as-a-service (BaaS) provider for compliance and risk management failures. As part of the order, the bank is...more

Walkers

Digital Asset SCPS Consultation Guidance

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The Bermuda Monetary Authority (the "Authority") released its Digital Asset Business Single Currency Pegged Stablecoins (SCPS) Consultation Guidance (the "Guidance"). The Guidance seeks to provide information and...more

Venable LLP

CFPB Updates the Supervisory Appeals Process

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The Consumer Financial Protection Bureau (CFPB) released a procedural rule updating its supervisory process for institutions seeking to appeal a compliance rating or an adverse finding. Although the appeals process remains...more

Mayer Brown

Better Know Your CEO: New York Issues Final Guidance on Character and Fitness

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The New York Department of Financial Services (NYDFS) issued final supervisory guidance on January 22, 2024, to New York banking institutions and financial services companies licensed by the NYDFS. The guidance sets forth the...more

Orrick, Herrington & Sutcliffe LLP

FHFA releases advisory bulletin for pilot and voluntary programs

On November 13, FHFA released an advisory bulletin on the FHLBank Framework for Pilot and Voluntary Programs. The desire for FHFA to develop innovative pilot programs is to support “affordable housing, equity advancement, and...more

Goodwin

FDIC Proposes Guidelines Establishing Standards for Corporate Governance and Risk Management for Covered Institutions with Total...

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On October 3, 2023, the Federal Deposit Insurance Corporation (FDIC) approved proposed guidelines establishing standards for corporate governance and risk management for covered institutions with total assets of $10 billion...more

Venable LLP

One Size Fits All: The FDIC’s Proposed Corporate Governance and Risk Management Guidelines

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The FDIC has proposed guidelines that would establish corporate governance and risk management expectations for FDIC-regulated banks with $10 billion or more in total assets. The FDIC is doing so in a rulemaking under its...more

Nossaman LLP

Podcast: Risk Management Lessons for Directors and Officers from Recent Bank Failures

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The first half of 2023 has seen three bank failures, Silicon Valley Bank, Signature Bank and First Republic Bank. In 2008–the last time multiple FDIC-insured banks failed–the collapse of the economy and massive bank reform...more

WilmerHale

New York Department of Financial Services Proposes Heightened Standards for Character and Fitness of Executives

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On May 9, New York State Department of Financial Services (DFS or the Department) Superintendent Adrienne A. Harris issued proposed guidance to clarify the DFS’s updated expectations regarding the review and assessment of the...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Spring 2023

Changing CEOs is one of the most critical decisions any board faces. In this issue of The Informed Board, we offer tips on how to avoid the mistakes we most often see. We also explain the problems companies could face if the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

Kaufman & Canoles

Credit Union Alert – FCUs Will Soon be Able to More Easily Expel Problematic Credit Union Members

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For a long time, federal credit unions (FCUs) have requested legislative changes to allow FCUs the ability to expel members who commit fraud or engage in violent or disruptive behavior. It took an act of Congress to get it...more

BCLP

2022 Governance Best Practices Survey

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Even the strongest corporate boards benefit from a regular infusion of fresh ideas. Culture, composition and governance practices - all of these are critical elements for boards to fulfill their oversight role, support...more

Goodwin

Delaware Chancery Court Dismisses Derivative Claim for Failure to Show Demand Futility

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Delaware Chancery Court Dismisses Derivative Claim for Failure to Show Demand Futility; Federal Illegality of Marijuana Industry Bars Relief for Numerous Investor Claims; LIBOR Convictions of Former Deutsche Bank Traders...more

Goodwin

Agencies Approve Final Rule: Computer-Security Incident Notification

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In This Issue. The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC) and the Board of Governors of the Federal Reserve System (together, the Agencies) issued a final rule...more

Holland & Knight LLP

Is the Sky Really Falling? Acting Comptroller Proposes Key Questions for Banks on Climate Change

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Canadian singer-songwriter Joni Mitchell lamented the toil of deforestation in 1970: "They took all the trees, put 'em in a tree museum/And they charged the people a dollar and a half just to see 'em." More than 50 years...more

Allen Matkins

California Banks And Limitations On Distributions To Shareholders

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Chapter 5 of the California Corporations Code imposes specific limitations on distributions to shareholders.  Because California chartered banks are formed under the California General Corporation Law, one would expect that...more

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