A federal savings bank settled OCC charges for failing to address deficiencies in its compliance management system, risk governance framework and IT program.

A broker-dealer settled FINRA charges for failing to (i) implement procedures to verify the identities of beneficial owners of its customers at the time of new client engagements and (ii) conduct independent testing of its AML compliance program.

The FDIC finalized a passivity agreement with The Vanguard Group, Inc., to limit Vanguard's influence over federally insured institutions. The agreement establishes restrictions and reporting obligations designed to ensure Vanguard remains a passive investor, avoiding actions that could lead to control over these institutions under the Change in Bank Control Act.

The OCC, FRB and FDIC extended temporary no-action positions concerning the application of FRB regulations on loans to insiders of certain investment funds and FDIC regulations on extensions of credit by banks to investment funds and their portfolio companies.

The SEC sued an investment adviser for deficiencies in handling material nonpublic information while trading Puerto Rico bonds.