by Keith Noreika, Bryan Hubbard and Chris Beckmann | Jan 20, 2023 | Patomak Post
Acting Comptroller of the Currency Michael Hsu presents a framework for scrutinizing banks viewed as “too big to manage.” Hsu describes a four-step escalation framework for supervisory issues, with a “credible threat of restrictions and divestitures.” Banks should...
by Keith Noreika, Bryan Hubbard and Chris Beckmann | Jan 9, 2023 | Patomak Post
Federal banking agencies encourage banks to monitor crypto risks, stress importance of keeping crypto sector risks isolated from broader financial system. Regulators view open, public or decentralized networks as highly likely to be inconsistent with safe and sound...
by Keith Noreika, Bryan Hubbard and Chris Beckmann | Jan 3, 2023 | Patomak Post
Rising interest rates are adversely affecting bank investment portfolios, leaving banks with a difficult set of choices. Regulators increasingly are expressing concern with the effect of interest rate risk. Banks must ensure their risk management, strategic, and...
by Sudhir Jain, Elsa Paul Castro and Anika Horowitz | Dec 12, 2022 | Patomak Post
On December 2, the CFTC reminded non-U.S. swap dealer chief compliance officers of annual reporting requirements. This Staff Advisory asserts that many non-U.S. swap dealers have been deviating from chief compliance officer annual reporting requirements. Dually...
by Adam Glazer | Nov 22, 2022 | Patomak Post
SEC staff issued an FAQ regarding consideration of diversity, equity, and inclusion factors by investment advisers when selecting or recommending other investment advisers in compliance with an adviser’s fiduciary duty. The FAQ raises more questions than answers. On...
by Keith Noreika, Sudhir Jain and Joshua Kuntz | Nov 22, 2022 | Patomak Post
Effective and comprehensive risk management is key to the cryptocurrency industry’s future success. The industry would mitigate various risks by following the five principles described here. The recent bankruptcy of a major cryptocurrency exchange came as a surprise...
