News & Analysis as of

Financial Regulatory Agencies Enforcement Actions

Latham & Watkins LLP

President Trump Issues Executive Order on Fair Banking

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Regulators are directed to avoid reputation risk, identify banks that have engaged in unlawful debanking, and take appropriate remedial actions. ...more

Orrick, Herrington & Sutcliffe LLP

California and other state regulators fine money transmitter $4.2M for BSA/AML violations

On July 9, the California DFPI, alone and joining five other state financial regulatory agencies, announced a multistate enforcement action resulting in a $4.2 million penalty against a licensed money transmitter for alleged...more

American Conference Institute (ACI)

[Event] 24th Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 25th - 26th, Toronto, ON, Canada

Canada’s financial sector is facing unprecedented scrutiny, rising enforcement, and evolving compliance risks – are you ready? Join top regulators and industry leaders at CI's 24th Annual Canadian Forum on Anti-Money...more

Goodwin

51 State Financial Regulatory Agencies Enter Settlement and Consent Order with Nonbank Mortgage Servicing Companies

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​​​​​​​​On January 9, 2025, 51 State Financial Regulatory Agencies (the “Agencies”) announced a coordinated consent order and settlement agreement with nonbank mor​tgage servicing companies (the “Companies”). ...more

WilmerHale

Concerns remain over FCA’s ‘name and shame’ proposals

WilmerHale on

An enforcement investigation by the Financial Conduct Authority (FCA) can be an extremely expensive and stressful experience for regulated firms and individuals alike. In February this year, the FCA launched a controversial...more

Nelson Mullins Riley & Scarborough LLP

[Webinar] FinTech University: The Major Questions Doctrine: A Challenge to the SEC’s Authority - November 19th, 2:00 pm - 3:00 pm...

As part of the FinTech University series, join Nelson Mullins attorneys Richard Levin, Daniel Newman, and Bobby Wenner for an in-depth webinar exploring the evolving role of the Major Questions Doctrine (MQD) and its...more

Goodwin

Supervisory Experience and Enforcement Actions Continue to Drive Supervisory Priorities and Policy Development

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This article identifies themes we have observed in recent public formal enforcement actions issued to institutions by the US federal bank regulatory agencies (Agencies) — the Board of Governors of the Federal Reserve System...more

Jenner & Block

[Ongoing Program] CLE Relay – Session 3 – Hot Topics in Fintech and Crypto - June 7th, 10:00 am - 11:00 am PDT

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This session will provide a survey of key issues and trends impacting the fintech and digital assets community as well as the future opportunities and challenges presented for these financial products and services. It will...more

BakerHostetler

The SEC Speaks - Key Enforcement Priorities for 2024

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On April 2 and 3, the U.S. Securities and Exchange Commission (SEC or Commission) presented its annual SEC Speaks program in conjunction with PLI, where senior members of the Commission provided updates on the current...more

American Conference Institute (ACI)

[Event] 8th Forum on FinTech & Emerging Payment Systems - April 9th - 10th, New York, NY

ACI’s 8th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems will provide in-depth guidance on the latest regulatory developments at the Federal and State Level that you need to be aware of....more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - February 2024

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - November 2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - November 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - September 2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - September 2023

Editor's Note The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more

Walkers

What can we learn from recent enforcement actions in the Cayman Islands?

Walkers on

Walkers' regulatory partners Lucy Frew and Ian Mason consider the learning points for financial services providers (FSPs) from recent enforcement actions by Cayman regulatory bodies. While financial services and related...more

Orrick, Herrington & Sutcliffe LLP

DOJ Appears to Shift Focus to Lenders in Paycheck Protection Program Investigations: What You Need to Know

The Department of Justice appears to be shifting its focus from investigating fraudulent behavior by Paycheck Protection Program (PPP) borrowers to investigating lenders and related institutions....more

BakerHostetler

NYS DFS Focuses on Cybersecurity Violations and Increasing Crypto Resources

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On May 1, 2023, the New York State Department of Financial Services (DFS or Department) issued a consent order (Consent Order), imposing a $1.2 million fine on bitFlyer USA, a cryptocurrency trading platform and custodial...more

Akin Gump Strauss Hauer & Feld LLP

Crypto Link - November 2022

This edition of CryptoLink follows the 2022 U.S. midterm elections, and lawmakers in Congress are now outlining ambitious agenda priorities for next Congress, putting digital assets near the top of the list. Following the FTX...more

Pillsbury Winthrop Shaw Pittman LLP

NYDFS Continues Series of Fair Lending Enforcement Actions against New York State-Chartered Banks

NYDFS is closely evaluating fair lending compliance at the institutions it regulates, and bringing enforcement actions based on statistical analyses of lenders’ loan portfolios. NYDFS has entered into a series of consent...more

Winstead PC

Financial Regulators Focus on Preservation of Ephemeral Messaging

Winstead PC on

Recent Enforcement Action - The requirement that financial firms preserve books and records is nothing new. But how do such firms keep track of employees’ communications on applications like Signal or WhatsApp? Those...more

Skadden, Arps, Slate, Meagher & Flom LLP

Treasury and Justice Department Reports Signal Tougher Enforcement and Regulation in the Digital Assets Sector

On September 16, 2022, the U.S. Department of the Treasury and Department of Justice released four much-anticipated reports on different aspects of cryptoasset regulation. They confirm the Biden administration’s broad but...more

Goodwin

OCC Releases Strategic Plan for Fiscal Years 2023-2027

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Regulatory Developments - OCC Releases Strategic Plan for Fiscal Years 2023-2027 - On September 6, the OCC released its strategic plan for the next five years, covering fiscal years 2023-2027 (the Plan)....more

BakerHostetler

New NFT Initiatives Launch Across Industries; Banking Agencies Publish Crypto Guidance; Enforcement Agencies Bring Crypto Actions;...

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New NFT Initiatives Announced in Jewelry, Automobile and Liquor Industries - A U.S. luxury jeweler has reportedly partnered with the popular NFT (non-fungible tokens) collection CryptoPunk to transform the digital...more

Hanzo

Financial Data Compliance and Enterprise Information Archiving

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When it comes to making sure financial data is safe and meets compliance regulations, understanding the different regulatory bodies and how they affect your organization is a vital first step. Two of the most common...more

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