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ARTICLE · 09 MARCH 2016

Financial Regulatory Developments Focus - 2 March 2016

A&O Shearman
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On February 29, 2015, the OCC published a bulletin summarizing its process for initiating and proceeding with any enforcement action for noncompliance with Bank Secrecy Act compliance program requirements...

GlobalFinance and Banking
A&O Shearman
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In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates.

Bank Prudential Regulation & Regulatory Capital

US Federal Banking Agencies Jointly Issue Interim Final Rules to Expand Exam Cycle for Smaller Banks and Branches

On February 29, 2016, the US Office of the Comptroller of the Currency, the US Board of Governors of the Federal Reserve System and the US Federal Deposit Insurance Corporation jointly issued and requested public comment on interim final rules to implement section 83001 of the Fixing America's Surface Transportation Act, or FAST Act, which permitted the agencies to expand the on-site examination schedule for qualifying insured depository institutions with less than $1 billion in total assets to once every 18 months from once every 12 months. The interim final

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