Banking & Finance

CT Dept of Banking - Administrative Order for Banta, Meera, First Bank Mortgage

The Connecticut Department of Banking has added a new administrative order and settlement for Banta, Meera, and First Bank Mortgage, Inc. d/b/a Money Tree. The order, dated January 30, details the terms of the settlement.

ESMA Principles for Risk-Based Supervision

The European Securities and Markets Authority (ESMA) has published its principles for risk-based supervision. These principles aim to foster a common and effective EU-wide supervisory culture and strengthen the EU single market by providing a structured framework for identifying, assessing, and addressing risks.

ESAs Joint Guidelines on ESG Stress Testing

The European Supervisory Authorities (ESAs) have published joint guidelines on integrating environmental, social, and governance (ESG) risks into supervisory stress tests for the banking and insurance sectors. These guidelines aim to establish common standards for ESG risk assessment methodologies across the EU financial system and will be subject to a 'comply or explain' procedure by National Competent Authorities.

ESMA Thematic Note on ESG Strategies Clarity

The European Securities and Markets Authority (ESMA) has published a thematic note on ESG strategies, focusing on ESG integration and exclusions. The note aims to promote clarity in communications directed at retail investors and provides practical do's and don'ts to mitigate greenwashing risks.

ESMA, UK Regulators Sign MoU on DORA ICT Oversight

The European Supervisory Authorities (ESAs) and UK financial regulators (BoE, PRA, FCA) have signed a Memorandum of Understanding (MoU) to enhance cooperation on overseeing critical ICT third-party service providers under DORA. This agreement facilitates information sharing and coordinated oversight activities.

FINRA Interpretive Letters on Rule Application

FINRA has published interpretive letters providing guidance on the application of specific FINRA rules under various circumstances. These letters clarify staff views on rules related to communications with the public, account transfers, and registration categories.

FINRA FAQs on Compliance, Advertising, AML, and Trade Reporting

FINRA has published a collection of Frequently Asked Questions (FAQs) covering various compliance topics, including customer assistance in investigations, 529 Savings Plans, accounts at other broker-dealers, advertising, alternative display facilities, anti-money laundering, arbitration, blue sheets, books and records, breakpoints, broker-dealer registration, recruitment disclosures, BrokerCheck, business continuity planning, and CRD.

FINRA Exemptive Letters List

FINRA has published a list of its exemptive letters, including those related to TRACE ATS Reporting, Municipal Securities, and Initial Public Offerings (IPOs). These letters provide guidance to industry professionals on FINRA's decision-making rationale for specific situations.

FINRA Proposes New Trade Reporting Facility Fees Rule

FINRA has proposed a new rule, FINRA Rule 7660B, to establish fees for FINRA members who do not use the FINRA/NYSE Trade Reporting Facility but purchase specified services. This proposal is open for public comment.

FINRA proposes rule changes for underwriting and private placements

FINRA has proposed rule changes to amend Rules 5110 and 5123 concerning underwriting terms and private placements. The proposed changes aim to clarify valuation methods for underwriting compensation, introduce new exemptions, and expand existing exemptions for certain investors.