Regulatory Oversight, Financial Institutions, NYDFS

Deadline Ahead: NYDFS Compliance Notifications are due by April 15

Husch Blackwell LLP on 3/19/2025

Businesses that are subject to the NYDFS Cybersecurity Regulations have four weeks left to submit their annual notices of compliance or acknowledge their noncompliance. When the regulations were amended in 2023, several of...more

NY Department of Financial Services Slaps $30 Million Fine on Robinhood’s Crypto Platform for Lax Anti-Money Laundering Controls

Foley Hoag LLP - White Collar Law &... on 8/15/2022

On August 1, 2022, the New York Department of Financial Services (“DFS” or the “Department”) secured its first enforcement win against a cryptocurrency platform, Robinhood’s crypto trading arm Robinhood Crypto, LLC....more

NYDFS requires regulated institutions to submit plans describing preparations for LIBOR transition by Feb. 7

Ballard Spahr LLP on 1/9/2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR...more

April 15 Isn’t Just Tax Day—It’s Also AML Certification Compliance Day

K2 Integrity on 2/20/2018

It’s not just your taxes that are due each year on April 15. For financial institutions, this coming April 15 is the date the New York Department of Financial Services’ (NYDFS’s ) new Anti-Money Laundering (AML) Part 504...more

Proposed Federal Cybersecurity Regulations for Financial Institutions Face an Uncertain Future

Cadwalader, Wickersham & Taft LLP on 3/13/2017

Last year’s proposed comprehensive framework for cybersecurity rules for large financial institutions is suddenly facing an uncertain future. With the comment period having closed as of February 2017, the framework was facing...more

Funds Talk: March 2017

Herbert Smith Freehills Kramer on 3/2/2017

OCIE Highlights Frequent Topics for Compliance Deficiencies for Investment Advisers - On Feb. 7, 2017, the Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations (“OCIE”) published...more

Regulation Round Up - February 2017

Proskauer Rose LLP on 2/28/2017

The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 1/13/2017

Financial Industry Developments - Prohibition on Dealing or Investing in Industrial or Commercial Metals - On January 3, 2017, the Office of the Comptroller of the Currency (the "OCC") finalized a rule that...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 1/9/2017

By volume, December wasn’t an incredible month for US jobs. But the report did help cap a year that saw average hourly earnings rise 2.9%—the best since 2009 and a “turning point for the overall economy,” according to one...more

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

Carlton Fields on 10/31/2016

- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

Incentive Compensation for Employees: Instead of Increasing Banks' Bottom Lines, These Arrangements May Increase the Risk of Fines

Eversheds Sutherland (US) LLP on 10/27/2016

The New York State Department of Financial Services (DFS) recently issued guidance to regulated banking institutions (Institutions) prohibiting them from implementing incentive-based compensation programs unless these...more

Regulatory Oversight › Financial Institutions › NYDFS