The Financial Stability Oversight Council recently released its annual report. Not surprisingly, this year’s report reviewed the banking failures in the early part of the year. In discussing the “vulnerabilities in the banking sector” that resulted in the bank failures, the Report cited poor risk management practices and heavy reliance on uninsured deposits as
UK Sustainability Disclosure Framework – FCA publishes final rules on Sustainability Disclosure Requirements and investment labels
On 28 November 2023, the UK’s Financial Conduct Authority published its “Sustainability Disclosure Requirements (“SDR“) and investment labels” policy statement (PS23/16) (the “Policy Statement”). The Policy Statement introduces a set of new rules aimed at tackling greenwashing, including investment product sustainability labels and restrictions on how terms like “ESG”, “green” and “sustainable”
The NYDFS Cybersecurity Regulation is Final: What You Need to Know Now
Webinar: November 6, 2023
3:00 p.m. – 4:00 p.m. ET
Register here.
The New York Department of Financial Services (NYDFS) has finalized its cybersecurity regulation for banks, branches and agencies of foreign banks, insurance companies, mortgage loan originators, mortgage loan servicers, mortgage brokers, licensed lenders, sales finance companies, money transmitters and other financial services
Market Risk Considerations Under the US Basel Endgame Proposal
While the recent US Basel Endgame proposal will affect many elements of the capital rules, it will have a particularly significant effect on market risk, where it may increase the capital requirement by more than 50%. Midsize and larger US banking organizations and others with significant trading activity also will need to develop extensive position
Fintech and Regtech in the Financial Services Industry: Current Issues for Investment Advisers and Broker-Dealers 2023
Seminar November 13, 2023
9:00 a.m. – 12:45 p.m. ET
Register here.
Financial services firms’ corporate compliance programs continue to be under intense regulatory scrutiny and face immense challenges brought upon by the FinTech revolution. Many of the financial service regulators have been looking at these developments with a keen interest. The regulatory landscape
SEC Announces 2024 Exam Priorities
On October 16, 2023, the Division of Examinations (the “Division”) of the U.S. Securities and Exchange Commission announced its examination priorities for 2024. While the Division typically announces its examination priorities near the start of the calendar year, this is the first time that the Division has published its examination priorities this early, to align
Cart Before Horse: Banking Regulators Extend Comment Period and Launch Data Collection for Basel Endgame
On October 20, 2023, the US federal banking regulators announced that they were extending the period for public comment to January 16, 2024 for both the (i) Basel Endgame proposal to significantly revise the risk-based regulatory capital requirements for certain midsize and larger US banking organizations (the “Capital Proposal”) and (ii) proposal to change the
Corporate Governance Standards Proposed by FDIC
On October 3, 2023, the Federal Deposit Insurance Corporation (“FDIC”) proposed standards for corporate governance and risk management for the institutions it regulates that have $10 billion or more in total assets. The proposed standards would establish extensive and rigid requirements for a wide range of state-chartered banks and reverse decades of reliance on state
Register for the Basel Endgame Conference
Register today for Mayer Brown and the New York State Bar Association for two panels discussing Basel Endgame and Long-Term Debt Proposals. Director of the FDIC Board of Directors, Jonathan McKernan will give a keynote address.
To register for all sessions, e-mail ckaplan@mayerbrown.com or scan the QR code:
Impact of Basel Endgame and Long-Term Debt
Basel Endgame Conference
Keynote Address: FDIC Director McKernan
Please join Mayer Brown and the New York State Bar Association for two panels discussing Basel Endgame and Long-Term Debt Proposals. Director of the FDIC Board of Directors, Jonathan McKernan will give a keynote address.
These events will take place at Mayer Brown’s New York office with an option to