Firms offering services for exchange between virtual money (cryptos) and regular money, and crypto wallet providers will be subject to De Nederlandsche Bank (DNB)’s supervision effective January 10, 2020.
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Australia: Feedback on Financial Institutions’ Preparation for LIBOR Transition
In May 2019, the Australian Securities and Investments Commission (ASIC) wrote to the CEOs of selected major Australian financial institutions regarding the end of the London Interbank Offered Rate (LIBOR). -
FINRA Sanctions Transamerica Financial Advisors, Inc.
FINRA announces Transamerica Financial Advisors, Inc. has agreed to pay approximately $4.4 million in restitution to approximately 2,400 customers for failing to supervise its registered representatives’ recommendations of three different -
Australia: Prudential Regulator publishes FAQs on loan repayment deferrals and residential mortgage lending
The Australian Prudential Regulation Authority (APRA) has released a set of FAQs on its expectations for regulated deposit-taking institutions during the period of disruption due to COVID-19. The FAQs -
Australia: New FAQ on Measurement of Credit Risk-Weighted Assets
The Australian Prudential Regulation Authority has published a new frequently asked question (FAQ) on how authorized deposit-taking institutions are to measure credit risk-weighted assets relating to insurance stand-by letters of
July 21, 2019
Banks and Financial Institutions Regulation
A snapshot of recent regulatory developments in the banking space is set out below. 1. CANADA: Department of Finance: Consultations on the Review of the Canadian Payments Act Last Friday, the Department of Finance (DoF) launched consultations to seek views on whether 2015 governance changes have been Europe, North America, Oceania & Antarctica
July 21, 2019
Banks and Financial Institutions Regulation
A snapshot of regulatory interventions in the banking space from around the world. 1. CANADA: Financial Transactions and Reports Analysis Centre of Canada: FAQs on Politically Exposed Persons in Canada and Heads of International Organizations The Financial Transactions and Reports Analysis Centre of Canada issued FAQs on Africa, Europe, North America
July 21, 2019
US Justice Department Moves Against Piling On
The US Justice Department (Department) this week announced a policy against piling on – repeated punishments by multiple enforcement authorities for the same misconduct that may exceed what is necessary to rectify the harm and deter future violations. The new policy encourages Department components to coordinate with one another Other
July 21, 2019
Banking Regulation & Developments: The Week of April 30, 2018
This review highlights regulatory interventions by supervisory authorities from around the world. 1) UNITED STATES The Office of the Comptroller of the Currency – Appraisal Threshold for Commercial Real Estate Transactions The Office of the Comptroller of the Currency, the Federal Reserve System and the Federal Deposit Insurance Asia & South America, Europe, North America
July 21, 2019
Banking Regulation: The Week of April 23, 2018
This review highlights regulatory interventions by supervisory authorities from around the world. 1. UNITED STATES: i) The Bureau of Consumer Financial Protection – ‘Know Before You Owe’ Mortgage Disclosure Rule The Bureau of Consumer Financial Protection finalized amendment to its “Know Before You Owe” Mortgage Disclosure Rule. Africa, Asia & South America, Europe, North America, Oceania & Antarctica