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
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.
The OCC, the Federal Reserve Board ("FRB") and the FDIC (collectively, the "Agencies") set effective dates on amendments to rules implementing the Community Reinvestment Act ("CRA"). The agencies published the rule and the effective dates in the Federal Register.
A municipal securities firm settled FINRA charges for failing to file complete and timely quarterly reports with the Municipal Securities Rulemaking Board and for failing to establish, maintain, and enforce an adequate supervisory system.
The New York State Department of Financial Services issued guidance for financial institutions on the "management of material financial and operational risk from climate change."