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Banking Sector Financial Services Industry Regulatory Standards

A&O Shearman

EBA review of RTS under PAD

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The European Banking Authority (EBA) has published a report and accompanying press release, on its review of the regulatory technical standards (RTS) under the Payment Accounts Directive concerning standardised terminology...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: Encyclopaedia of Prudential Solvency – Chapter 1: The IAIS and the ICS

Established in 1994, the International Association of Insurance Supervisors (IAIS) is a voluntary membership organisation comprising insurance regulatory authorities, central banks, ministries of finance, and other...more

Ankura

Banking as a Service: How Strong Is Your Financial Crime Compliance Partnership?

Ankura on

The growth in partnerships between banks and Fintech companies through Banking as a Service (BaaS) models presents significant opportunities for innovation across the financial services sector. However, these collaborations...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2024

CFPB Issues Filing Instructions Guide for Small Business Lending Data - The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more

Holland & Knight LLP

La SFC expide regulación sobre las finanzas abiertas en Colombia

Holland & Knight LLP on

La Superintendencia Financiera de Colombia (SFC) expidió recientemente la Circular Externa 004 de 2024, mediante la cual se establecen los estándares necesarios para el despliegue de las finanzas abiertas en el país. La...more

Goodwin

Crypto business in (and “to”) the UK: Further light on the new regulatory regimes

Goodwin on

The Response and Stablecoins Update confirm the core of HMT’s policy proposals in the General Consultation and Stablecoin Consultation, respectively, although they shine further light on the features of the regulatory regime....more

White & Case LLP

The Financial Sector Laws Amendment Act: A new dawn for South Africa's Bank Resolution Regime – A look at what you need to know...

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In January 2022, the President assented to the Financial Sector Laws Amendment Act, 2021 (the "FSLAA"), which adds a new Chapter 12A (Resolution of Designated Institutions) (the "Bank Resolution Regime") into the Financial...more

Holland & Knight LLP

The Impact of Cybersecurity Regulations on the Financial Services Industry in 2022

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Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more

White & Case LLP

The French and New York Financial Regulators Partner to Boost Cross-Border Fintech Cooperation

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The New York Department of Financial Services ("NYDFS") and the French Autorité de Contrôle Prudentiel et de Résolution ("ACPR") signed a Memorandum of Understanding ("MOU") to position New York and France as innovation hubs...more

Jones Day

Facilitating Transatlantic Fintech Innovation and Cooperation: The New MOU Between the NYSDFS and the French ACPR

Jones Day on

The Situation: From both sides of the Atlantic, United States and French financial authorities are keen to facilitate technology innovations in the financial sector. Beyond having set up dedicated teams to focus on the...more

Hinshaw & Culbertson - Consumer Crossroads

New York DFS Launches "FastForward" Program Aimed at Driving Innovative Financial Services and Products

In support of re-opening and adapting New York to the new economic and social normal caused by COVID-19, New York’s Department of Financial Services (DFS) announced the launch of a program called “DFS FastForward” which will...more

Wilson Sonsini Goodrich & Rosati

Regulatory Landscape for Fintech, Electronic Commerce, and Electronic Banking: Part One

Part 1: Electronic Commerce - This is the first part of a two-part article discussing the regulatory landscape for financial technology as applied to electronic commerce and electronic banking. This article focuses on...more

Steptoe & Johnson PLLC

Status of Medical Marijuana in West Virginia

Steptoe & Johnson PLLC on

On January 11, 2019, Patrick Morrisey, the Attorney General of the State of West Virginia, issued a legal opinion discussing the legal risks the financial service industry may face as West Virginia implements its medical...more

Nutter McClennen & Fish LLP

How Fintech Regulatory Sandboxes Can Help the United States Catch Up to Europe and Asia

The framework of a regulatory sandbox should allow for informal dialogue with regulators at the idea or initial concept and early design stages, and controlled experiments with real-time regulatory input and feedback at the...more

Hogan Lovells

Aftech releases code of conduct

Hogan Lovells on

The Indonesian FinTech Association (Aftech) recently published a code of conduct providing guidance on ethical and responsible behavior (the code) for peer-to-peer financial technology (fintech) lending platforms that are...more

Buchalter

Cannabis, Cash, and Crime

Buchalter on

ON OCTOBER 2, 2012, kidnappers robbed and abducted a marijuana dispensary owner from his Newport Beach home. They then drove him to the Mojave Desert where they tortured him and demanded that he reveal where he had buried his...more

Bradley Arant Boult Cummings LLP

Providing Banking Services to the Legal Marijuana Industry: Mitigating Risks to Maximize Potential Rewards

Since 1996, when California became the first state to legalize marijuana (at the time, for medicinal purposes only), 28 additional states and the District of Columbia have legalized marijuana to some extent. Public support...more

Ballard Spahr LLP

Pennsylvania Issues Mortgage Servicer License FAQs

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The Pennsylvania Department of Banking and Securities recently published Frequently Asked Questions to clarify its new mortgage servicer licensing requirements. ...more

Ballard Spahr LLP

NMLS 2018.1 Release

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On January 20, 2018, NMLS will release certain system enhancements and maintenance updates with NMLS 2018.1. ...more

Ballard Spahr LLP

Pennsylvania Adds Licensing Requirements for Mortgage Servicers

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Pennsylvania is adding a requirement that a Mortgage Servicer License is required to engage in the mortgage loan business as a mortgage servicer. As such, the definition of “mortgage loan business” has been amended to include...more

Ballard Spahr LLP

Uniform Act to Regulate Virtual Currency Businesses Ready for State Adoption

Ballard Spahr LLP on

A new proposed law to create a statutory framework for regulating persons engaging in virtual-currency business activity, the Uniform Regulation of Virtual-Currency Businesses Act (URVCBA), has been approved by the Uniform...more

Ballard Spahr LLP

Marijuana Enforcement: DOJ Cole Memo Up in Smoke

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Attorney General Sessions Announces Rescission of Obama Administration Policies on Marijuana Enforcement; Financial Institutions Lose Grounds to Permit Financial Transactions with Marijuana Businesses....more

Stinson LLP

Federal Banking Agencies Explore Raising Threshold for Appraisals in Commercial Real Estate Transactions to $400,000

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Federal regulators earlier this week issued a notice of proposed rulemaking to raise the threshold for commercial real estate transactions requiring an appraisal from the current level of $250,000 to $400,000. The agencies...more

Ballard Spahr LLP

State AGs criticize ED withdrawal of Obama student loan servicing policy direction

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A group of 20 state attorneys general, the D.C. attorney general, and the Executive Director of the Office of Consumer Protection of Hawaii have sent a letter to U.S. Department of Education Secretary Betsy DeVos criticizing...more

Poyner Spruill LLP

New Regulatory Developments in Blockchain Finance

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Blockchain technology combines several features of existing financial infrastructure. It is partly a mass repository of historical transactions, partly a decentralized clearinghouse, and partly a digital currency. It is also...more

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