The Basel Committee on Banking Supervision (the "Committee") proposed revisions to leverage ratio Pillar 3 disclosure requirements. Pillar 3 seeks to foster market discipline through regulatory disclosure requirements. In a consultative document, the Committee explained that the Basel III leverage ratio standard consists of a three percent minimum level that banks with which must comply at all times, and is "a buffer for global systemically important banks and a set of public disclosure requirements." For the purpose of disclosure requirements, banks must report the leverage ratio on a quarter

The FDIC adopted a final rule to permit FDIC-insured financial institutions "to except a capped amount of reciprocal deposits from treatment as brokered deposits for certain insured depository institutions." Separately, the FDIC requested comments on all aspects of its brokered deposit and interest rate regulations. The FDIC amended its regulations on brokered deposits and interest rate transactions to conform to changes required by Section 202 of the Economic Growth, Regulatory Relief and Consumer Protection Act concerning reciprocal deposits. The final rule will also make conforming

A broker-dealer settled FINRA charges of failing to establish or implement a reasonably designed anti-money laundering ("AML") program and conduct sufficient AML due diligence on accounts held by foreign financial institutions ("FFIs"). According to the FINRA Letter of Acceptance, Waiver and Consent, Tradition Securities and Derivatives, Inc. (the "Respondent") did not appropriately tailor an AML compliance program to the risks associated with its foreign bond business. In addition, the Respondent failed to identify the types of activity it expected from certain FFI accounts, and whether the

The U.S. Treasury Department ("Treasury") Office of Foreign Assets Control ("OFAC") intends to terminate sanctions imposed on En+ Group plc, UC Rusal plc and JSC EuroSibEnergo (collectively, the "companies") in 30 days. According to Treasury Secretary Steven T. Mnuchin, OFAC initially sanctioned these companies because of their ownership by sanctioned Russian oligarch Oleg Deripaska, and not for the companies' conduct. Under the "Terms of Removal" entered into with OFAC, the companies agreed that, in return for their removal from the Specially Designated Nationals and Blocked Persons List (

The U.S. Treasury Department Office of Foreign Assets Control ("OFAC") designated numerous Russian operatives for interfering in the 2016 U.S. Presidential election, cyber-hacking the World Anti-Doping Agency and other malign activities. The designations, made pursuant to the Countering America's Adversaries through Sanctions Act, include a former officer of Russia's Main Intelligence Directorate ("GRU") for acting on behalf of sanctioned energy sector oligarch Oleg Deripaska; entities and individuals related to "Project Lakhta," a Russian effort to interfere in elections worldwide; nine