The Federal Reserve Bank and the Office of the Comptroller of the Currency fined a bank for failing to monitor firm and client trading activities.
News & Insights
In a new Bulletin, which replaced and rescinded previous guidance, the Office of the Comptroller of the Currency advised regulated banks to prepare for the reduction in the settlement cycle for regular way trades.
The New York Department of Financial Services updated guidance for Greenlisted coins (coins that are approved for either trading or custody by the Department) and proposed new guidance on listing and delisting virtual currency for entities engaged in virtual businesses.
Banking agencies set a comment deadline of September 19, 2023 for proposed risk management guidance concerning "reconsiderations of value" in real estate transactions.
The banking agencies set a comment deadline of August 21, 2023 for a proposed to require mortgage originators and secondary market issuers to ensure that "automated valuation models used in certain credit decisions or covered securitization determinations adhere to quality control standards."