Crypto-asset businesses, particularly those offering crypto lending, non-fungible tokens, or digital wallet/payments products — which are already facing intense scrutiny from the SEC, CFTC, U.S. Department of Justice and U.S.
Continue Reading CFPB And FTC Take Their Place As Powerful Crypto Cops
On Jan. 3, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively
Continue Reading Federal Reserve, FDIC, and OCC Issue the First Joint Statement on Crypto-Asset Risks to Banking Organizations
On Nov. 15, 2022, the Federal Trade Commission (FTC) announced that it is delaying the effective date of its recent amendments to the Safeguards Rule, promulgated under the Gramm-Leach-Bliley Act
Continue Reading FTC Delays Compliance Date of the Safeguards Rule
Welcome to the inaugural issue of Greenberg Traurig’s Financial Services Insights. The impact of Coronavirus Disease 2019 (COVID-19) has been both unexpected and devastating. As the economic fallout spreads, financial
On July 22, 2019, the federal bank regulatory agencies and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (collectively, the “Agencies”), issued a Joint Statement on Risk-Focused Bank
Continue Reading Joint Statement Emphasizes Risk-Focused Approach to Examinations of Banks’ BSA/AML Compliance Programs
Today, the SEC announced the adoption of amendments to several rules under the Investment Advisers Act of 1940 and to Form ADV, the investment adviser registration and reporting form.
Continue Reading New ADV Rule
In connection with the Press Release announcing a Rule Proposal regarding adoption of written business continuity and transition plans by SEC-registered investment advisers (see our blog post on the topic),
Continue Reading SEC IM Guidance Update – Investment Company Business Continuity Plans
On June 23, 2016 the Office of the Comptroller of the Currency (OCC) hosted the Forum on Responsible Innovation in the Federal Banking System in Washington, D.C. Hundreds of industry
Continue Reading OCC Forum on Responsible Innovation
There is no doubt that the regulation of financial technology (fintech) companies is on the rise. Fintech companies broadly mean companies that provide products, services and technology where traditional banking
Continue Reading Early Signs on Fintech from the Consumer Financial Protection Bureau
On Jan. 11, 2016, the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued its annual Examinations Priorities for 2016 (Exam Priorities), which
Continue Reading SEC’s Office of Compliance Inspections and Examinations Releases Annual Examination Priorities