Events listed in United States
OCC Promotes National Financial Capability Month
ID 22763
In an effort to support retail client financial literacy and promote the National Financial Capability Month, the Office of the Comptroller of the Currency (OCC) has published a press statement addressed at supervised institutions. In it, **the regulator points banks and savings associations to several resources that may help institutions to „provide high-quality financial literacy education and services for consumers and communities that are ...
SR-FINRA-2023-007
ID 22737
On April 12, 2023, the Financial Industry Regulatory Authority, FINRA, published on its website a press release stating that it has filed with the U.S. Securities and Exchange Commission (SEC) a proposed rule change, SR-FINRA-2023-007, to adopt „Supplementary Material .18 (Remote Inspections Pilot Program) under FINRA Rule 3110 (Supervision)“. Specifically, FINRA seeks to install a Pilot Program that would provide member firms the option, ...
Russia-related Designations; Issuance of Russia-related General Licenses and ...
ID 22735
In view of the ongoing aggression of Russia towards Ukraine, the U.S. Department of the Treasury has drawn up a new sanctions package targeting Russia, the Russian economy, and Russian firms and individuals, which consists of the following: (1) The sanctioning of an additional 34 individuals, 91 entities, and numerous vessels for their engagement in or support of the Russian war against Ukraine. As ...
Interest Rate Risk: Interest Rate Risk Statistics Report
ID 22733
On April 12, 2023, the Office of the Comptroller of the Currency (OCC) issued a press statement to inform that it has published its latest Interest Rate Risk (IRR) Statistics Report which is released semi-annually and based on data gathered during „examinations of OCC-supervised midsize and community banks and federal savings associations“. The report does not reflect any expectations of the OCC, but rather ...
Counter Terrorism Designation and Designations Updates
ID 22720
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added one individual to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (31 CFR Part 594 and Executive Order 13224) in connection with global terrorism. Additionally, OFAC has modified the records of two already sanction persons. ...
OCC Opens Registration for Community Bank Director and Senior Management Workshops
ID 22717
The Office of the Comptroller of the Currency (OCC) has published a press statement to announce its 2023 schedule of workshops for board directors and senior management of national (community) banks and federal savings associations. The schedule encompasses the following five workshops (as quoted): (1) Risk Governance Workshop (1 day workshop or 3-hour virtual workshop) which aims to bring about the following outcomes: – ...
Treasury Releases 2023 DeFi Illicit Finance Risk Assessment
ID 22710
The U.S. Department of the Treasury (USDT) has published a first (financial) risk assessment report in connection with Decentralized Finance (DeFi). According to the USDT, DeFi refers to „virtual asset protocols and services that purport to allow for some form of automated peer-to-peer (P2P) transactions, often through the use of self-executing code known as “smart contracts”. Some examples of DeFi services are briefly described ...
Regulation S-P: Privacy of Consumer Financial Information and Safeguarding Customer ...
ID 22709
Following the publication of a corresponding press release in March 2023, the U.S. Securities and Exchange Commission (SEC) has now published in the Federal Register its consultation on proposed revisions to Regulation S-P (17 CFR Part 248) which are aimed at enhancing (cyber) security management, customer information protection, and the disclosure of certain data breaches to customers. Among others, the Commission seeks to expand ...
Cyber-related Designation; Global Magnitsky Designation
ID 22680
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added one individual and one entity to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations (Executive Order 13818 and Executive Order 13694) for their engagement in corruption in Haiti and for their engagement in the theft ...
Lebanon Designations
ID 22674
The Office of Foreign Assets Control (OFAC) has published a press release informing about new sanction measures. Specifically, the Office adds two individuals and three entities to its Specially Designated Nationals and Blocked Persons List (SDN List). The parties are being sanctioned pursuant to Executive Order 13441 for undermining the rule of law in Lebanon by using „their wealth, power, and influence to engage ...