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
An SEC and CFTC joint final rule adopting amendments to Form PF will go into effect on March 12, 2025. The final rule was published in the Federal Register.
The U.S. House of Representatives passed the Expanding Access to Capital Act of 2023 in a party line vote. The bill is intended to build on the JOBS Act of 2012 by reducing the regulatory burdens on certain capital raising transactions.
Federal Reserve Board Vice Chair for Supervision Michael S. Barr reported that, going forward, the Federal Reserve plans to focus on supervision over fundamental risk management related to counterparty credit risk practices.
FinCEN proposed to include "investment adviser" in the definition of "financial institution" under the Bank Secrecy Act. The proposed rule would require advisers to implement AML/CFT programs and maintain recordkeeping requirements.