Financial Services Spotlight

August 2016 Second Half Developments

Posted by Roy Andersen on Sep 8, 2016 12:00:00 PM

Overview

The OCC published a proposed rule dealing with qualified financial contracts and their effect on the U.S. financial system.   The proposal is similar to a rule proposed by the Federal Reserve earlier this year.  In essence, QFCs will be required to contain provisions that restrict acceleration and contain contractual stay provisions.  FinCEN is proposing to expand its requirements for AML programs to banks that are not currently subject to federal supervision.

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Topics: Whistleblowers, OCC, CFTC, Federal Housing Finance Agency, AML Program

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About the Spotlight


The Financial Services Spotlight examines the regulatory and technology developments impacting banks, asset managers and other financial services providers—where challenges meet opportunities.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

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