Basel Committee: Governors welcome Basel III progress, discuss cryptoassets and G-SIBs

The Group of Central Bank Governors and Heads of Supervision (GHOS) met on March 9, 2026, to review progress on Basel III implementation, with approximately 75% of member jurisdictions having implemented or planning to implement the standards. The GHOS also endorsed targeted reviews of prudential standards for cryptoasset exposures and the assessment methodology for global systemically important banks (G-SIBs).

Basel Committee Publishes Synthetic Risk Transfer Analysis Report

The Basel Committee on Banking Supervision has published a report analyzing synthetic risk transfer (SRT) transactions. The report notes that while SRTs appear more prudently structured than pre-GFC transactions, risks associated with their growing use merit continued supervisory monitoring.

Basel Committee Consults on Consolidated Banking Guidelines

The Basel Committee on Banking Supervision has published a consultation on a consolidated version of its banking guidelines and sound practices. The aim is to improve accessibility and streamline guidance materials, reducing their volume by approximately 75%. Comments are requested by June 26, 2026.

Federal Reserve Issues Consent Order Against Former Regions Bank Employee

The Federal Reserve Board has issued a consent prohibition order against Nicole M. Ramsey, a former employee of Regions Bank. The action stems from the misappropriation of customer funds. This enforcement action signifies the Federal Reserve's commitment to upholding standards of conduct within the banking sector.

Federal Reserve Consent Order with Jamal Hillman

The Federal Reserve Board has issued a consent prohibition order against Jamal Hillman, a former employee of First Financial Bank, for misappropriation of customer funds. This enforcement action prohibits Mr. Hillman from participating in the banking industry.

Federal Reserve Board Enforcement Action Against Former PrimeLending Employee

The Federal Reserve Board has issued a consent prohibition order against Aquana Raffington, a former employee of PrimeLending. The action addresses conflicts of interest and fraud, with no monetary penalty imposed.

Federal Reserve Enforcement Actions for Embezzlement

The Federal Reserve Board announced enforcement actions against two former bank employees for embezzlement and misappropriation of funds. Jacob Hilton, formerly of United Bank, and Klaus Koberstein, formerly of East Cambridge Savings Bank, have each received consent prohibition orders.

Jericho Share Ceases NY Operations for Selling Unlicensed Health Insurance

The New York State Department of Financial Services announced that Jericho Share has agreed to cease all operations in New York for selling unlicensed health insurance plans. This action follows an investigation into the company's activities.

New York Designates Butternut Valley Banking Development District

New York State Comptroller DiNapoli and the Department of Financial Services (DFS) have designated the Butternut Valley as a Banking Development District. This designation aims to support community banking and economic development in the region.

Statement on FY 2027 Executive Budget Hearing

New York State Department of Financial Services Acting Superintendent Kaitlin Asrow delivered a statement at a joint legislative public hearing on the FY 2027 Executive Budget, focusing on economic development. The statement outlines the DFS's priorities and budget requests for the upcoming fiscal year.

New York Behavioral Health Treatment Access Campaign Launched

Governor Hochul has launched a public awareness campaign to educate New Yorkers on accessing behavioral health treatment. The campaign aims to inform individuals about their rights and available resources for mental health and substance use disorder services.

New York Regulation for Buy Now, Pay Later Loans

New York Governor Kathy Hochul announced a new regulation establishing comprehensive consumer protections for Buy Now, Pay Later (BNPL) loans. This regulation aims to provide a framework for BNPL services operating within the state, ensuring greater transparency and fairness for consumers.

PCAOB Names William Ryan Acting Director of Enforcement Investigations

The Public Company Accounting Oversight Board (PCAOB) announced William Ryan has been named Acting Director of its Division of Enforcement and Investigations. He succeeds Robert E. Rice, who is retiring. This appointment oversees investigations and enforcement of PCAOB rules and securities regulations.

PCAOB Publishes Expanded Inspection Reports on Three Firms

The PCAOB has published expanded inspection reports for three audit firms: Assure CPA, LLC; Kronick Kalada Berdy & Co, P.C.; and Michael T. Studer CPA P.C. These expansions are due to the firms' failure to adequately address quality control issues within the 12 months following the original inspection reports.

PCAOB Chairman and Board Members Sworn In

The Public Company Accounting Oversight Board (PCAOB) announced that Demetrios (Jim) Logothetis was sworn in as Chairman, and Mark A. Calabria and Steven D. Laughton were sworn in as Board Members on February 10, 2026. The new leadership was appointed by the SEC and will oversee the PCAOB's statutory responsibilities.

PCAOB Sanctions Zwick CPA, Revokes Registration, Imposes $50,000 Penalty

The PCAOB has sanctioned Zwick CPA, PLLC, its owner Jack Zwick, and former audit manager Jeffrey Hoskow for multiple violations of PCAOB rules and standards related to the audit of Genie Energy Ltd. The sanctions include revoking the firm's registration, barring individuals, and imposing a $50,000 penalty.

PCAOB Publishes 15 New Firm Inspection Reports

The Public Company Accounting Oversight Board (PCAOB) has published 15 new inspection reports for audit firms. These reports cover firms in various countries and provide insights into their audit quality. The PCAOB encourages users to visit its Firm Inspection Reports page for more detailed filtering and data access.

NCUA and FDIC Host Webinar on Financial Scams

The NCUA and FDIC are hosting a free webinar on March 12, 2026, to educate credit unions and banks on identifying and combating prevalent financial scams. The webinar will offer practical strategies, financial education resources, and best practices for protecting consumers.

NCUA Proposes Deregulation Changes to Records Preservation Program

The National Credit Union Administration (NCUA) has proposed changes to its Records Preservation Program, aiming to clarify guidance and remove burdensome requirements. The proposals include removing appendices, defining key terms, and allowing electronic record formats, offering greater flexibility to credit unions.

NCUA Releases Q4 2025 Credit Union Performance Data

The National Credit Union Administration (NCUA) has released its fourth quarter 2025 performance data for federally insured credit unions. The report indicates growth in total assets and loans outstanding, alongside an increase in net income for the year 2025.

NCUA Voluntary EGRPRA Review and Deregulation Project

The National Credit Union Administration (NCUA) has initiated a voluntary review of its regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA). This review, which is not statutorily required, aims to reduce regulatory burden on credit unions and will inform future regulatory changes. The comment period is open for 90 days.

NCUA Share Insurance Fund Results - Q4 2025

The National Credit Union Administration (NCUA) released the Share Insurance Fund results for the fourth quarter of 2025. The fund reported a net income of $113.8 million and held $24.1 billion in assets. The report also noted a decrease in credit unions with composite CAMELS codes 3, 4, and 5, with no federally insured credit union failures during the quarter.

Bustos v. State - Probation Revocation Appeal

The Wyoming Supreme Court affirmed a district court's decision to revoke Robert James Bustos' probation and impose his underlying prison sentence. The appeal questioned whether Bustos' due process rights were violated due to lack of notice regarding specific probation violations.

Michael Brown v. State - Dismissed Appeal

The Court of Appeals of Georgia dismissed Michael Brown's direct appeal from the denial of his motion for an out-of-time motion for a new trial. The court found it lacked jurisdiction, citing recent legislative changes and prior case law regarding out-of-time appeals.

Wirth Forestry LLC v. Heard County Georgia - Opinion Dismissed

The Court of Appeals of Georgia dismissed the discretionary appeal filed by Wirth Forestry, LLC and Viridi RE Development, LLC against Heard County, Georgia. The dismissal was due to the applicants' failure to comply with interlocutory appeal procedures, as the superior court's order was not considered final.

Michael Paul Alexander v. Dee Ann Alexander - Discretionary Application Denied

The Georgia Court of Appeals has denied a discretionary application in the case of Michael Paul Alexander v. Dee Ann Alexander. The docket number for this case is A26D0367. This denial means the court will not hear the appeal.

Abdirizak Abukar Mire v. Hana Sayid Hussein Sheikh - Divorce Action Appeal Dismissed

The Court of Appeals of Georgia has dismissed the discretionary appeal in the divorce action of Abdirizak Abukar Mire v. Hana Sayid Hussein Sheikh. The court determined that the application for appeal was improvidently granted after further review of the briefs and record.

Newnan Gas & Food, LLC v. A & H Food, Inc. - Discretionary Application Granted

The Court of Appeals of Georgia granted a discretionary application in the case of Newnan Gas & Food, LLC et al v. A & H Food, Inc. The appellant has 10 days from the order date to file a notice of appeal.

Lundy v. Kemp - Wrongful Death Action

The Court of Appeals of Georgia reversed and remanded a wrongful death action concerning a jail inmate's suicide. The court found the trial court erred in allowing defendants to argue discretion regarding a jail policy and in allowing a related special interrogatory to the jury. The case involves claims of negligence against jail officers.

Team Health, LLC v. Cotiviti, Inc. - Case Transferred

The Court of Appeals of Georgia has transferred the case of Team Health, LLC v. Cotiviti, Inc. to the Supreme Court. The case involves a dispute over the enforcement of an arbitration subpoena, with the lower court having granted a motion to quash based on federal preemption arguments.

In the Interest of T. K., Children - Dependency Finding Affirmed

The Court of Appeals of Georgia affirmed a juvenile court's order finding children to be dependent and awarding custody to the Department of Family and Children Services. The mother appealed, alleging insufficient evidence of dependency. The court found the evidence supported the dependency finding.

Delmon Smith v. Ciara Armstrong - Child Custody Appeal

The Court of Appeals of Georgia affirmed a trial court's order denying a petition to modify child custody. The appellant argued the trial court erred in finding him in contempt, crediting the guardian ad litem's opinion, failing to find a material change in circumstances, and awarding attorney fees.

K. B. v. Cobb County School District - Student Discipline Appeal

The Court of Appeals of Georgia vacated and remanded a superior court order concerning the suspension of a student, K. B., by the Cobb County School District. The court will reconsider whether the local board exceeded its statutory authority by suspending the student for off-campus conduct.

Mattis v. Ax Auto, Inc - Emergency Motion Denied

The Court of Appeals of Georgia denied emergency motions for temporary remand and stay filed by appellant Jonathan M. Mattis in the case Mattis v. Ax Auto, Inc. The court issued its order on March 12, 2026.

The APPEAL, INC. v. Oliver - Civil Rights/Access to Execution Procedures

The Court of Appeals of Georgia affirmed a trial court's dismissal of a civil complaint filed by The Appeal, Inc. against Georgia Department of Corrections officials. The news organization sought greater media access to lethal injection procedures, but the court found TAI lacked standing to pursue the claims.

Heather Brown v. Barbara Schmitt - Court Opinion

The Court of Appeals of Georgia reviewed a fee award in Heather Brown v. Barbara Schmitt. The court affirmed the denial of certain attorney fees but reversed the award of others, finding that the conduct did not meet the legal standard for sanctionable conduct under OCGA § 9-15-14(b).

FATF Lists Iran, DPRK, Burma as High-Risk; Kuwait, PNG Under Monitoring

FinCEN is informing U.S. financial institutions of the Financial Action Task Force's (FATF) updated lists of jurisdictions with strategic AML/CFT/CPF deficiencies. Kuwait and Papua New Guinea were added to the 'Jurisdictions Under Increased Monitoring' list, while Iran, DPRK, and Burma remain on the 'High-Risk Jurisdictions Subject to a Call for Action' list.

Canaccord Genuity LLC - Enforcement Action

FinCEN announced an enforcement action against Canaccord Genuity LLC, citing violations of the Bank Secrecy Act. The action resulted in a consent order and a financial penalty. This action serves as a reminder of the importance of robust AML compliance programs for financial institutions.

FinCEN Fines Canaccord Genuity $80 Million for BSA Violations

FinCEN has assessed an $80 million civil money penalty against Canaccord Genuity LLC for willful violations of the Bank Secrecy Act (BSA). This is the largest penalty ever imposed against a broker-dealer for BSA violations, stemming from failures in anti-money laundering programs and suspicious activity reporting.

Geographic Targeting Order for Southwest Border MSBs

FinCEN has issued a Geographic Targeting Order (GTO) imposing recordkeeping and reporting requirements on certain Money Services Businesses (MSBs) along the Southwest Border. This order aims to enhance efforts against illicit finance and money laundering activities.

FDIC FAQ on Capital Treatment of Tokenized Securities

The FDIC, OCC, and Federal Reserve have issued an FAQ addressing the capital treatment of tokenized securities for FDIC-insured financial institutions. The guidance clarifies how ownership rights represented by distributed ledger technology are treated under existing capital rules and confirms the technology-neutral nature of these regulations.

Call Report Instructions for Q4 2025

The FDIC issued updated instructions for the Consolidated Reports of Condition and Income (Call Report) for the fourth quarter of 2025. The notice highlights the implementation of multifactor authentication for the Central Data Repository and provides submission deadlines for the December 31, 2025, report date.

FDIC Final Rule on Signs, Advertising, and Misuse of Name/Logo

The FDIC issued a final rule amending regulations on official signs, advertising, and misuse of the FDIC's name or logo for insured depository institutions. The rule provides additional flexibility for digital signage and ATMs while clarifying consumer protections, with a compliance date of April 1, 2027.

FDIC Amends Guidelines for Appeals of Material Supervisory Determinations

The FDIC is amending its Guidelines for Appeals of Material Supervisory Determinations by replacing the Supervision Appeals Review Committee with a new Office of Supervisory Appeals. This office will serve as the final review level for supervisory determinations and will also expand appeal rights to certain enforcement action cases.

FDIC Extends Comment Period for GENIUS Act Stablecoin Rulemaking

The FDIC has extended the public comment period for its proposed rulemaking concerning the GENIUS Act application procedures for stablecoin issuance. The comment period is now extended to May 18, 2026, providing additional time for FDIC-supervised institutions to submit feedback.

CFTC Announces Marc H. Sielski as Executive Director

The Commodity Futures Trading Commission (CFTC) announced Marc H. Sielski has been named the agency's new executive director. Sielski will oversee administrative operations to support the CFTC's mission and ensure effective stewardship of public resources.

CFTC Senior Advisor Brigitte Weyls Departs

The Commodity Futures Trading Commission (CFTC) announced the departure of Senior Advisor Brigitte Weyls after 17 years of service. Weyls played a role in significant litigation, policy, and rulemaking initiatives, including those related to digital assets and emerging markets.

CFTC and SEC Sign MOU for Lawful Innovation

The CFTC and SEC have signed a Memorandum of Understanding (MOU) to enhance coordination and collaboration on lawful innovation, market integrity, and investor protection. The MOU establishes a Joint Harmonization Initiative to clarify definitions, modernize frameworks, and streamline reporting for areas of common regulatory interest, including crypto assets.

CFTC Advisory on Prediction Markets and Event Contracts

The CFTC's Division of Market Oversight issued an advisory reminding designated contract markets (DCMs) of their regulatory obligations under the Commodity Exchange Act and Commission regulations concerning the listing of event contracts. The advisory encourages innovation while emphasizing proactive compliance, particularly for sports-related event contracts.

CFTC Seeks Comment on Prediction Market Regulations

The Commodity Futures Trading Commission (CFTC) has published an Advanced Notice of Proposed Rulemaking (ANPRM) to solicit public comment on potential new regulations for prediction markets. The ANPRM seeks input on how existing rules apply to event contracts and what types of contracts may be prohibited.