The Federal Reserve Board, OCC and FDIC final rule that allows financial institutions an additional 120 days following a real estate closing transaction to obtain an appraisal or evaluation of the property was published in the Federal Register.
New York State Department of Financial Services Superintendent Linda A. Lacewell described how the agency is supporting state initiatives to combat climate change and continued to urge the insurance industry to factor these financial risks into management, operations and business strategies.
The Federal Reserve Board, OCC and FDIC adopted a final rule that allows financial institutions an additional 120 days following a real estate closing transaction to obtain an appraisal or evaluation of the property.
In this episode of the Law Wise podcast, Cadwalader partner Kyle DeYoung is joined by Michael Maloney, President of Credibility International and the former Chief Accountant of the Division of Enforcement for the U.S. Securities and Exchange Commission, to discuss what’s happening on the SEC enforcement front as it relates to accounting and financial disclosures.
The Office of Management and Budget outlined best practices for the implementation of Section 6 (Fairness in Administrative Enforcement and Adjudication) of an Executive Order providing regulatory relief for entities economically impacted by COVID-19.
The SEC provided certain limited exemptive relief from the “locate” and "close-out" requirements under its short sale regulations. The relief was provided because of COVID-19 related intermittent suspension of physical securities processing by the Depository Trust Company .
The Office of Compliance Inspections and Examinations identified compliance issues for broker-dealers and investment advisers resulting from market volatility and operational disruptions due to the COVID-19 pandemic.
The Federal Financial Institutions Examination Council encouraged financial institutions to ease pressure on borrowers as initial loan accommodations in response to the COVID-19 pandemic near their end.
FinCEN alerted financial institutions to indicators of COVID-19-related cybercrime. The alert concerns (i) the exploitation of remote platforms, particularly against financial and healthcare systems, (ii) phishing, malware and extortion schemes, and (iii) business email compromise fraud.