The Office of the Comptroller of the Currency (OCC)
OCC and Other Agencies Request Comment on Revisions to the Supplementary Leverage Ratio
The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation announced that they will be seeking comment on a proposed change to the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) that requires agencies to permit firms that engage in custody, safekeeping, and asset servicing to exclude certain central bank deposits from their supplementary leverage ratio.
Securities and Exchange Commission
Two Agencies Hold Compliance Outreach Program for Broker-Dealers
The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) announced that they will hold the 2019 National Compliance Outreach Program for Broker-Dealers on June 27 in Chicago. This program provides regulators and industry professionals to discuss how they can best protect investors.
The Federal Reserve Board
FRB Invites Comment on Proposed Change to Simplify Rules for Determining Control of a Banking Organization
The Federal Reserve Board (FRB) announced that it would be requesting public comment on proposed changes that would simplify the rules for determining the control of a banking organization and increasing transparency. This proposal would set up a regulatory framework for determining control.
The Federal Deposit Insurance Corporation (FDIC)
FDIC Requests Comment on New Approaches for IDI Rule
The Federal Deposit Insurance Corporation (FDIC) announced that it would be requesting comments on how they can improve their rule that requires some insured depository institutions (IDIs) to submit resolution plans.
The National Credit Union Administration (NCUA)
NCUA Requests Comment on Regulation for Compensation Regarding Loans
The National Credit Union Association announced that it would be seeing public comment on the proposed modernization to regulations that deal with compensation connected with lending. The Board is considering these changes as part of their regulatory reform agenda.
The Consumer Financial Protection Bureau (CFPB)
CFPB Announces Changes to CID Policies
The Consumer Financial Protection Bureau announced that it would be changing policies regarding Civil Investigative Demands (CIDs). These updated policies are designed to ensure that more information is available about which laws may have been violated, prompting an investigation. They’ll also specify what activities the Bureau is responsible for monitoring and which specific issues the CID is addressing to further increase transparency.