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Results:1-10 of 14

Whistleblower Policies
  • Sullivan & Worcester LLP
  • USA
  • January 25 2019

On January 7, 2019, the New York State Department of Financial Services (the "DFS") issued new guidance on whistleblowing programs ("WP") to all


What Does the Dodd-Frank Relief Bill mean for Enhanced Prudential Standards for Foreign Banks?
  • Sullivan & Worcester LLP
  • USA
  • May 25 2018

On May 23, Congress passed a bill to revise Dodd-Frank to reduce regulatory burdens on banks. Just as with the original Dodd-Frank Act, the real work


FFIEC Examination Procedures for the Beneficial Ownership Rule
  • Sullivan & Worcester LLP
  • USA
  • May 16 2018

The FFIEC has updated its BSAAML manual effective May 5, 2018, to add a section on the new legal entity due diligence requirements and to update the


Customer Due Diligence and FinCEN’s Frequently Asked Questions
  • Sullivan & Worcester LLP
  • USA
  • May 9 2018

As you are aware, FinCEN’s Customer Due Diligence rules are effective in two days. In a nutshell, these rules require banks to obtain and verify the


How Does the Fed Want to Regulate Foreign Banks?
  • Sullivan & Worcester LLP
  • USA
  • March 12 2018

On March 5, 2018, the Fed’s new Vice Chairman for Supervision, Randal Quarles, spoke at the Institute of International Bankers annual conference. He


Bank Corporate GovernanceFed lowers Boom on Wells’ Directors
  • Sullivan & Worcester LLP
  • USA
  • February 6 2018

On February 2, 2018, the Fed announced that it issued a consent Cease and Desist order with Wells Fargothe bank holding company. The Fed’s press


Review of Regulatory Responses to the Resolution Plans from the Big Foreign Banks
  • Sullivan & Worcester LLP
  • USA
  • January 30 2018

Yesterday, the Fed and FDIC released their letters to the bigger foreign banks, i.e. the banks just below the UBS-level. The Fed’s letters were in


October and November Developments
  • Sullivan & Worcester LLP
  • USA
  • December 8 2017

For the first time in my memory, the Congress passed a joint resolution to disapprove a final regulation of a federal agencyin this case the


Object Lesson on How Not to Respond to Consent and Enforcement Actions
  • Sullivan & Worcester LLP
  • USA
  • August 31 2017

Last week, the DFS announced an enforcement action and charges against the NY Branch of Habib Bank, a Pakistani bank that had been doing business in


May, June and July Developments
  • Sullivan & Worcester LLP
  • USA
  • August 9 2017

With a straight face, President Trump has issued an executive order on June 20th that would expand Apprenticeship opportunities in the US in order