A bank holding company entered into a plea agreement for filing false securities statements as to its initial public offering and subsequent annual filings.
News & Insights
A bank settled DOJ and SEC charges for Foreign Corrupt Practices Act violations in connection with its use of third-party intermediaries, business development consultants and finders.
The SEC proposal to (i) update the statistical disclosures for bank and savings and loan registrants and (ii) eliminate redundant disclosures was published in the Federal Register.
CFTC Division of Swap Dealer and Intermediary Oversight Director Joshua B. Sterling highlighted a number of regulatory issues for swap dealers being considered at the CFTC.
The Office of the Comptroller of the Currency, the Federal Reserve Board, and the FDIC (collectively, the "agencies") adopted a final rule to provide banking organizations the option to "phase in over a three-year period the day-one" regulatory capital effects of the "Current Expected Credit Losses" ("CECL") methodology. In 2016, the Financial Accounting Standards Board released a new expected credit loss accounting standard which introduced the CECL for estimating allowances for credit losses. The final rule addressed changes to credit loss accounting under U.S. generally accepted accounting