On December 15, 2020, the Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation issued a notice of proposed rulemaking that w...
The Commodity Futures Trading Commission (CFTC) Enforcement Division’s Annual Report highlights the agency’s record number of enforcement actions in 2020, a focus on retail fraud case...
In a very significant development, the administrator of LIBOR announced on November 30 that it expects in early December to consult on its intention to cease the publication of most USD L...
On November 18, the administrator of LIBOR announced that it will, in the near future, consult on its intention to cease the publication of all GBP, EUR, CHF and JPY LIBOR settings after ...
This deck describes our view of the road ahead for financial regulatory reform under a Biden Presidency and a Republican Senate. We see most of the action coming from the regulators, not...
A divided SEC voted last week to issue a Proposed Exemptive Order (the Proposal) that would, if adopted, permit natural person “finders” to engage in certain private capital raising a...
The Fed has announced details of the FedNow Service, a 24x7x365 instant payments service slated for initial launch in 2023 or 2024. This Davis Polk memo describes the big picture of the U...
The U.S. prudential regulators have finalized amendments to their non-cleared swap and security-based swap margin regulations. Among other things, the amendments:
permit prudentially r...
We have updated our Volcker Rule flowcharts for recent amendments to the covered fund provisions of the Volcker Rule regulations. These are the second wave of amendments to the Volcker R...
The CFTC last week formally withdrew its controversial Proposed Regulation Automated Trading (Proposed Reg AT) and—consistent with Chairman Tarbert’s principles-based approach to regu...
