This 5 Trends piece covers non-financial misconduct, the Senior Managers and Certification Regime, FCA investigations and Upper Tribunal proceedings, motor finance, and FCA Sustainability Disclosure Requirements.
Continue Reading 5 Trends to Watch: 2024 UK Financial Services Regulation
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5 Trends to Watch: 2024 Financial Services Litigation
- Increasing Regulatory and Enforcement Risk – As we enter an election year, and considering the government’s aggressive hiring, financial institutions can expect to see increased activity by federal and state
FDIC Issues Cease and Desist Letters to 5 Entities for Making False or Misleading Representations Regarding Deposit Insurance
On Jan. 19, 2024, the Federal Deposit Insurance Corporation (FDIC) issued letters demanding five entities and certain associated parties cease and desist from making false and misleading statements about FDIC…
Continue Reading FDIC Issues Cease and Desist Letters to 5 Entities for Making False or Misleading Representations Regarding Deposit InsuranceCFPB Proposes Rule to Reclassify Overdraft Fees Under TILA
In a move that could reshape the landscape of consumer finance, on Jan. 17, 2024, the Consumer Financial Protection Bureau (CFPB) proposed a new rule that aims to redefine overdraft…
Continue Reading CFPB Proposes Rule to Reclassify Overdraft Fees Under TILAFinCEN Publishes Final Rule on Access to Beneficial Ownership Information
On Dec. 22, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published a final rule (Access Rule) establishing the parameters for authorized access to BOI reported…
Continue Reading FinCEN Publishes Final Rule on Access to Beneficial Ownership InformationCorporate Transparency Act Takes Effect with Beneficial Ownership Reporting Requirements
Starting Jan. 1, 2024, the Corporate Transparency Act and its implementing regulations mandate that certain U.S. legal entities and foreign entities registered to do business in the United States (collectively…
Continue Reading Corporate Transparency Act Takes Effect with Beneficial Ownership Reporting RequirementsFinCEN Updates Frequently Asked Questions on Beneficial Ownership Reporting Rule Ahead of Jan. 1, 2024, Effective Date
Starting Jan. 1, 2024, the CTA mandates that certain U.S. legal entities and foreign entities registered to do business in the United States (collectively, Reporting Companies) report certain BOI…
Continue Reading FinCEN Updates Frequently Asked Questions on Beneficial Ownership Reporting Rule Ahead of Jan. 1, 2024, Effective DateNew Florida Legislation Proposes Notification Requirements for Certain Financial Institutions When They Terminate, Suspend, or Take Similar Action to ‘Restrict’ Customer Account Access
On Nov. 20, 2023, Florida Rep. Bob Rommel (R-Naples) introduced Florida House Bill 585, which proposes to require certain financial institutions operating in Florida to file a “termination-of-access report” with…
Continue Reading New Florida Legislation Proposes Notification Requirements for Certain Financial Institutions When They Terminate, Suspend, or Take Similar Action to ‘Restrict’ Customer Account AccessSEC Division of Examinations 2024 Priorities
The Securities and Exchange Commission (SEC)’s Division of Examinations (Division) announced its 2024 examination priorities (Exam Priorities) in October. In 10 years of priority announcements, this is by far the…
Continue Reading SEC Division of Examinations 2024 PrioritiesFinCEN Extends Beneficial Ownership Reporting Deadline for Newly Formed Companies
Effective Jan. 1, 2024, the Corporate Transparency Act (CTA) will require certain U.S. legal entities and foreign entities registered to do business in the United States (collectively, Reporting Companies) to…
Continue Reading FinCEN Extends Beneficial Ownership Reporting Deadline for Newly Formed Companies