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Financial Institutions › Policies and Procedures › Regulatory Oversight

Cozen O'Connor

Debanking: August 2025 Federal Crackdown Signals New Compliance Imperative

Cozen O'Connor on

The rules around account closures and denials of banking services are shifting quickly. Earlier this month, President Trump issued an executive order taking aim at what he describes as “politicized or unlawful debanking.” The...more

Perkins Coie

FDIC’s Proposed Changes to Custodial Deposit Accounts: Practical Implications for Fintechs and Their Banks

Perkins Coie on

The Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking (the Proposal) on September 17, 2024, that seeks to strengthen recordkeeping for bank deposits held by nonbank companies on behalf of...more

Mayer Brown

FINRA Reminds Members of Regulatory Obligations When Using Generative Artificial Intelligence (AI) and Large Language Models

Mayer Brown on

On June 27, 2024, the Financial Industry Regulatory Authority, Inc. (“FINRA”) issued Regulatory Notice 24- 09 (the “Notice”) reminding member firms that FINRA’s rules and the securities laws apply to the use of artificial...more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for May 2024

SEC Compliance Consultants, Inc. (SEC³) on

SEC DROPS NEW REQUIREMENT FOR INCIDENT RESPONSE PROGRAMS, PROPOSAL FOR RIAS TO ADOPT CIP, SEC EXAMS SHARES MARKETING RULE FAILURES, RIA SLAMMED FOR FAILING TO RETAIN TEXTS, AND SEC WINS ON SHADOW TRADING THEORY - Welcome to...more

Eversheds Sutherland (US) LLP

Key highlights of FinCEN’s final rule on access to Beneficial Ownership Information

Eversheds Sutherland (US) LLP on

The Financial Crimes Enforcement Network (FinCEN) issued the Beneficial Ownership Information Access and Safeguards Rule (Access Rule) establishing the framework for access to and protection of beneficial ownership...more

Moore & Van Allen PLLC

Advisory: Canada Designates Proud Boys a Terrorist Entity

Moore & Van Allen PLLC on

Canada has designated the Proud Boys as a terrorist entity, meaning that banks and other financial services providers will no longer be allowed to deal with or facilitate transactions concerning property controlled by the...more

Stinson LLP

Missouri Financial Institutions Must Prepare for Impending Marijuana Banking Challenges

Stinson LLP on

In November 2018, Missouri voters passed Amendment 2, setting in motion state regulated medical marijuana. Over the last month, the Missouri Department of Health & Senior Services (DHSS) began approving license applications...more

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