Remove agencies office-of-foreign-assets-control
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Davis Polk Discusses Unsung Provisions of Bill to Hold Bank Executives Accountable

Reynolds Holding

The scope would include not only the largest banks, but also regional banks, community banks and the branches and agencies of foreign banks. 2 The new corporate governance provisions would apply to all depository institutions and their holding companies with total consolidated assets above $10 billion.

Banking 45
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DOJ, Commerce, and Treasury Issue Advisory on Voluntary Self-Disclosure Policies

Reynolds Holding

Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued a Tri-Seal Compliance Note (the “Note”) summarizing voluntary self-disclosure (“VSD”) policies applicable to U.S. sanctions, export controls, and other national security laws. [1] On July 26, 2023, the U.S.

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Morrison & Foerster Discusses Federal Banking Agencies’ Adoption of Climate-Related Financial Risks Guidance

Reynolds Holding

On October 24, 2023, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (together, the “Agencies”) released their final Principles for Climate-Related Financial Risk Management for Large Financial Institutions (the “Climate Principles”).

Banking 40
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Davis Polk Discusses Recent SEC and CFTC Enforcement Actions

Reynolds Holding

The SEC further alleged that the Company lacked policies or controls concerning related party transactions, including what constituted a related party transaction or how such transactions should be disclosed by the Company. These figures exclude follow-on actions, bars and suspensions.) July 5, 2023, settled) In the Matter of Dwight H.

Banking 52
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Business Divorce in the Divorce Courts

Farrel Fritz

Last fall, I wrote about a matrimonial-turned-business dispute simultaneously playing out in Delaware Chancery Court and Manhattan’s Matrimonial Division between reality television personality Julia Haart and her former paramour, billionaire Silvio Scaglia, over ownership of modeling agency Elite World Group, Inc.

Banking 52
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SEC Announces Enforcement Results for Fiscal Year 2023

Reynolds Holding

The stand-alone enforcement actions spanned the securities industry, from billion-dollar frauds to emerging investor threats involving crypto asset securities and cybersecurity, and charged violations by diverse market participants, from public companies and investment firms to gatekeepers and social media influencers.

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Examining High Concentration Among Derivatives Intermediaries

Reynolds Holding

Derivatives are financial instruments used to shift risks, such as fluctuations in interest rates or foreign exchange rates or changes in the value of assets such as stocks, bonds, metals, or agricultural or energy products. Thus the clearinghouse insulates counterparties to the initial trade from each other’s default risk.

Banking 64