Events listed in United States
Guidance on Nonbank Financial Company Determinations
ID 25847
**Following a corresponding consultation (EventID 20857) and the issuance of a final guidance (EventID 23787) as to the determination by the Financial Stability Oversight Council (FSOC) whether or not a non-bank financial company should be supervised by the Federal Reserve Board and subject to prudential standards in accordance with section 113 of the Dodd-Frank Act, the Board of Governors of the Federal Reserve System ...
Balkans-related Designations; Russia-related Designations and Designation Update; ...
ID 25846
The Office of Foreign Assets Control (OFAC) has published a press release to inform about various new sanction measures. Specifically, the Office – added several individuals, entities, and vessels to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (Executive Order 14033 and Executive Order 14024) in connection with ongoing corruption in Bosnia and Herzegovina and the evasion ...
Correction to Notice of OFAC Sanctions Actions
ID 25840
On November 16, 2023, the Office of Foreign Assets Control, OFAC, published in the Federal Register a correction notice to correct the records of a previously designated person, namely STEPANOV, Artem Nikolaevich. Specifically, in the records of the individual, “Linked To: PRIGOZHIN, Yevgeniy, Viktorovich” is deleted and replaced with “Linked To: OOO YUNIDZHET”. Also, the grounds for designation are changed as follows (as quoted): ...
SEC Adopts Rules to Improve Clearing Agency Governance and Mitigate Conflicts of ...
ID 25838
The U.S. Securities and Exchange Commission (SEC) has published a press release to announce the finalization of new rule 17 CFR Part 240, § 240.17Ad-25 under the Securities Exchange Act of 1934 to enhance governance standards of registered clearing agencies and to mitigate the risks of conflicts of interest among Board members, nominating committees, and other relevant stakeholders. The final rule follows a [corresponding ...
Issuance of Venezuela-related General Licenses and Associated Frequently Asked ...
ID 25833
The Office of Foreign Assets Control (OFAC) has published a new press release to inform about new sanction-related measures. Specifically, the Office issued two new General Licenses (GLs) and a new frequently asked question (FAQ) all relating to sanction measures in connection with Venezuela. Each measure is briefly described below: (1) OFAC has issued a new General License 8M to permit (financial) „transactions involving ...
Counter Narcotics Designation
ID 25828
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office announced that it has added one individual to its Specially Designated Nationals and Blocked Persons List (SDN List) for being engaged in or supporting the trafficking of cocaine and other illegal drugs pursuant to Executive Order 14059. The affected individual is the following: ...
Acting Comptroller of the Currency Testifies on Regulatory Priorities
ID 25825
The Office of the Comptroller of the Currency (OCC) of the U.S. Department of the Treasury has recently outlined its efforts to the U.S. House Financial Services Committee to ensure a safe, sound, and resilient U.S. banking system. In this context, the OCC also summarized its **key priorities for the upcoming year in terms of supervision of in-scope banking entities, monitoring of (emerging) risks, ...
US Department of Labor announces online hearing on proposed retirement security ...
ID 25818
In view of its ongoing consultation on proposed revisions to the definition of „investment advice fiduciary“ in its rules under the Employee Retirement Income Security Act of 1974 (please see EventID 23651 for a detailed description of the consultation), the Employee Benefits Security Administration (EBSA) has announced an upcoming online hearing beginning on December 12, 2023 at 9:00 a.m. Eastern Standard Time. To recall, ...
SEC Announces Enforcement Results for Fiscal Year 2023
ID 25802
The U.S. Securities and Exchange Commission, SEC, has published a press statement outlining the Commission’s enforcement results for the previous fiscal year 2023. The statement thereby describes actions taken by the Commission against financial institutions, issuers and / or individuals engaged in the financial market for violating existing U.S. securities regulations. The SEC thereby obtained orders for nearly $5 billion in financial remedies, including ...
SR-FINRA-2023-016
ID 25801
On November 14, 2023, the **Financial Industry Regulatory Authority (FINRA) announced on its website an upcoming consultation on proposed amendments to FINRA Rule 2210 relating to „communications“ (e.g. sales literature or research reports) to enable FINRA member firms to include projected performance and targeted returns in institutional communications (communications to institutional investors) and communications exclusively distributed to qualified purchasers ( ...