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Risk Management Corporate Governance Banks

Orrick, Herrington & Sutcliffe LLP

OCC releases May 2025 enforcement actions

On May 15, the OCC announced enforcement actions against two banks and three institution-affiliated parties. The OCC issued cease and desist orders to banks in Miami, as well as Beverly Hills, California, respectively, for...more

A&O Shearman

PRA consults on updated supervisory expectations to manage climate-related risks

A&O Shearman on

The Prudential Regulation Authority (PRA) has issued a consultation paper (CP10/25) and draft updates to the supervisory statement 3/19. The consultation aims to enhance supervisory expectations on the management of...more

K&L Gates LLP

Managing Artificial Intelligence: The Monetary Authority of Singapore's Recommendations on AI Model Risk Management

K&L Gates LLP on

Introduction and Background - On 5 December 2024, as part of the Monetary Authority of Singapore’s (MAS) incremental efforts to ensure responsible use of artificial intelligence (AI) in Singapore’s financial sector, MAS...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK and EU Bank Remuneration Regimes Begin To Diverge

In the aftermath of the 2007-09 global financial crisis, the G20 nations committed to reforming bank remuneration frameworks in response to criticism that excessive risk-taking at banks incentivised by poorly structured pay...more

Orrick, Herrington & Sutcliffe LLP

House Republicans urge FDIC to withdraw corporate governance guidelines

Recently, a group of House Republicans sent a letter to Martin Gruenberg, Chairman of the FDIC, expressing concerns regarding the proposed corporate governance and risk management guidelines that would apply to all insured...more

Stikeman Elliott LLP

OSFI Focuses on Culture Risk Issues in New Regulatory Notice

Stikeman Elliott LLP on

On November 21, 2024, the Office of the Superintendent of Financial Institutions (“OSFI”) released a regulatory notice on managing culture risk (the “Notice”). The Notice follows industry feedback on OSFI’s February 2023...more

Troutman Pepper Locke

Preparing for the FDIC’s Final Enforceable Guidelines on Corporate Governance and Risk Management: State Nonmember Banks with...

Troutman Pepper Locke on

Over one year ago, on October 3, 2023, the Federal Deposit Insurance Corporation (FDIC) proposed supervisory guidelines that would establish standards for corporate governance and risk management for all state non-member...more

Mayer Brown

Launch of the Banking Industry Integrity Charter in Hong Kong

Mayer Brown on

Hong Kong’s new Banking Industry Integrity Charter (Integrity Charter) was launched on 9 October 2024 by the Independent Commission Against Corruption (ICAC) in collaboration with the Hong Kong Monetary Authority (HKMA) and...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

Latham & Watkins LLP

Hong Kong Monetary Authority Issues Guidance for Banks on Crypto Custody and Sale of Tokenised Products

Latham & Watkins LLP on

Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products. On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published two...more

Cadwalader, Wickersham & Taft LLP

Basel Committee Issues Guidance on Core Principles for Effective Banking Supervision

In April 2022, the Basel Committee on Banking Supervision (the Basel Committee) began a review of “the core principles for effective banking supervision” (Core Principles or CP). Last month, the Basel Committee published...more

Cadwalader, Wickersham & Taft LLP

The UK’s Model Risk Management Principles for Banks

Against a background of increasing reliance on models and scenario analysis to assess future risks, the UK’s bank regulator, the Prudential Regulation Authority (“PRA”), has published a supervisory statement on “Model risk...more

Cadwalader, Wickersham & Taft LLP

OCC Issues Its Semiannual Risk Perspective

The Office of the Comptroller of the Currency (“OCC”) issued its Semiannual Risk Perspective for Spring 2022 on June 23. This was the same day the Federal Reserve released the results of its stress test for large bank holding...more

Cadwalader, Wickersham & Taft LLP

Basel Committee Issues Principles on Management and Supervision of Climate-Related Financial Risks

On June 15, the Basel Committee on Banking Supervision (“BCBS”) issued its Principles for the effective management and supervision of climate-related financial risks (the “Principles”). In its release, the BCBS stated that it...more

American Conference Institute (ACI)

[Virtual Conference] Regulatory Compliance for Financial Institutions - November 23rd - 24th, 8:45 am - 5:00 pm EST

ACI’s 27th Annual Flagship Conference on Regulatory Compliance for Financial Institutions will take place virtually on November 23 – 24, 2021 (EST). Join regulators and industry peers for a series of in-depth discussions...more

Foodman CPAs & Advisors

The Federal Reserve Expects The Board Of Directors Of Financial Institutions To Be Effective

On February 26, 2021, the Federal Reserve issued Supervisory Guidance (SG) for the Board of Directors (BOD) of Domestic Bank and Savings and Loan Holding Companies requiring effective BOD oversight.   ...more

Moore & Van Allen PLLC

OCC Releases Bulletin on Fraud Risk Management Principles

In the aftermath of sales practices, the Office of the Comptroller of the Currency (OCC) recently published a bulletin on fraud risk management principles that are applicable to all federally chartered financial institutions....more

BCLP

Regulators Tackle Board Effectiveness and Overdrafts

BCLP on

Host Jonathan Hightower is joined by Ken Achenbach to discuss this week's proposed guidance from the Federal Reserve on the effectiveness of bank boards. In addition, at the outset of the episode Jonathan and Ken reviewed...more

Bass, Berry & Sims PLC

New York and Feds Leading the Charge on Financial Institution Cybersecurity Regulations

Bass, Berry & Sims PLC on

Both federal and state officials recently proposed new regulations aimed at the financial sector in an effort to promote protection against high-impact technology failures and cyberattacks...more

Stinson - Corporate & Securities Law Blog

New Proposed Rules on Banker Incentive Compensation Released

The National Credit Union Administration, or NCUA, became the first of six Agencies to unveil a revised rule proposal under Section 956 of the Dodd-Frank Act: prohibiting incentive-based payment arrangements that the...more

The Volkov Law Group

Managing Threats to Corporate Reputations (Part II of III)

The Volkov Law Group on

Most companies do not adequately manage their reputations and the risks to their reputations. Too many companies are focused on “crisis” management, which is just another way to respond to a reputational risk that has already...more

Goodwin

OCC Issues Final Guidelines Calling for Heightened Standards for Governance and Risk Management of Large Financial Institutions

Goodwin on

The OCC issued final guidelines (the “Final Guidelines”) that call for strengthened governance and risk management practices at the following categories of large financial institutions with $50 billion or more in average...more

Orrick - Finance 20/20

OCC Finalizes its Heightened Standards for Large Financial Institutions

On September 2, the OCC published final guidelines to strengthen the governance and risk management practices of large financial institutions. The guidelines apply to insured national banks, insured federal savings...more

Stinson - Corporate & Securities Law Blog

Fed to Bank Directors: Pay Attention

Daniel K. Tarullo of the Board Of Governors of the Federal Reserve System delivered a speech on the intersection of corporate governance and prudential regulation. Some of the points he noted were (emphasis added)...more

Goodwin

Comptroller Curry Discusses OCC’s Higher Expectations for Large Banks and the Members of Their Boards; States Community Banks Will...

Goodwin on

On April 10, 2014, Comptroller of the Currency Thomas J. Curry presented remarks concerning risk management and related corporate governance issues before the American Bankers Association Risk Management Forum. Comptroller...more

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