Regulatory Alerts
Quick hitting summaries of specific regulatory developments and their impact on financial services firms.
No results found.
Insight
Noncompliance with Laws and Regulations, Including Fraud: PCAOB Proposed Amendments
Potential areas for company risk focus
Insight
FRB Reports: Supervision and Regulation; Financial Stability
Semiannual reports highlighting supervisory and regulatory developments, supervisory priorities, and financial system risks
Insight
CFPB Proposal to Supervise Big Tech and Other Wallet/Payment Providers
Proposal to supervise “larger participants” in the nonbank market for “general-use consumer digital payment applications”
Insight
Financial Stability, Nonbank Supervision: FSOC Final Guidance
Analytic Framework and Guidance for identifying, assessing, and responding to potential bank and nonbank financial stability risks
Insight
DOJ Safe Harbor Policy for Voluntary Self-Disclosures in Mergers & Acquisitions
DOJ Safe Harbor Policy for Voluntary Self-Disclosures in M&A
Insight
Executive Order on Safe, Secure, and Trustworthy AI
Call for AI risk management actions/standards for privacy, security, consumer/worker protections, and innovation
Insight
Debit Interchange Fee Cap: FRB Reg II Proposed Amendments
Proposal to amend the interchange fee cap and methodology
Insight
Final Principles for Climate-Related Financial Risk Management
Interagency guidance for banks over $100B to identify, measure, monitor, and control climate-related financial risks
Insight
Community Reinvestment Act: Interagency Final Rule
Updated CRA framework recognizing “branchless” banking and clarifying CRA-eligible activities, metrics/benchmarks and processes
Insight
”Open Banking” 1033 Personal Financial Data Rights: CFPB Proposal
Proposal to provide consumers “more control” over their personal financial data related to deposit, savings, and credit cards accounts
Insight
Short Sale Reporting: SEC Final Rule
New rule and Form SHO for monthly reporting of gross short sale positions and “net” activity by institutional investment managers
Insight
Reporting of Securities Loans: SEC Final Rule
Daily reporting requirements and publication of information for covered securities loans and related modifications on most securities
Insight
Volume-based Transaction Pricing: SEC Proposed Rule
Proposal to prohibit pricing for agency-related orders and to require disclosures around pricing tiers and membership
Insight
Examinations: SEC 2024 Priorities
Focus areas include marketing practices, conflicts of interest, operational resiliency, and emerging financial technology
Insight
“Junk Fees” Actions: FTC, CFPB, FCC, HUD, DOT, State
Ongoing “whole of government” actions to prohibit “hidden” and “falsely advertised” fees from consumer products and services
Insight
SEC Beneficial Ownership Reporting Amendments
Shorter reporting timeframes for investors with more than a 5 percent beneficial ownership of a covered class of equity securities
Insight
Expanded Risk Governance and Management: FDIC Proposed Guidelines
Expectations for board governance and for board and management risk management responsibilities
Insight
CA Climate Laws: GHG Emissions and Risk Reporting
New CA laws requiring measurement and reporting of GHG emissions (Scopes 1, 2, and 3) and climate-related financial risks
Insight
Consumer/Worker Protections: FTC, FCC, and DOL Sign MOUs
Agreements to protect consumers from electronic spam/scams and workers from unfair competition/business practices
Insight
Names Rule: SEC Final Amendments
Preventing Misleading or Deceptive Fund Names
Insight
Risk Alert: SEC Investment Adviser Supervision
Insights into the selection of advisers for exams, including risk factors, and document requests
Insight
Long-Term Debt Requirements: Interagency Proposed Rule
Proposal to impose a LTD requirement on certain large BHCs, IHCs, and insured depository institutions
Insight
SEC Private Fund Adviser Reforms: Final Rules
Increased reporting/disclosure to investors; new compliance documentation requirements for all registered advisers
Insight
AML Enforcement: SEC Risk Alert & FFIEC Exam Manual Updates
Increasing intensity to AML programs, customer identification programs, CDD, and beneficial ownership obligations
Insight
“Covered Technologies” and Conflicts of Interest: SEC Proposal
To address conflicts arising from technologies that optimize for, predict, guide, forecast, or direct investor decisions
Insight
Resolution & Living Wills: FDIC and Joint (FDIC/FRB) proposals
Strengthening resolution planning, strategy, and reporting
Capital Requirements: Proposed “Basel III Endgame” & GSIB Capital Surcharges
Intended to introduce more transparency, consistency, and risk sensitivity to the frameworks
Insight
Public Company Cybersecurity Risk Management, Strategy, Governance and Incident Disclosure
SEC Final Rule
Insight
SEC Money Market Fund Reforms & Customer Protection Rule Proposal
SEC efforts to improve fund resiliency and stability
Insight
2023 Regulatory Agendas: Federal Banking Regulators
Key list of upcoming rulemaking
Insight
SEC 2023 Regulatory Agenda
Continuing a brisk pace and breadth of activity
Insight
SEC Examinations Risk Alert: Marketing Rule
Expanding examinations focus on testimonials and endorsements, third-party ratings, and Form ADV disclosures
Insight
Third-Party Risk Management (TPRM): Final Interagency Guidance
Replaces each agency’s prior third-party guidance; reiterates sound risk management
Insight
Bank Supervision: OCC “Persistent Weaknesses”
Reiterating the importance of bank risk management, issues management, and governance
Insight
Biometric Information: Federal Trade Commission UDAP
Policy statement on the collection and use of “biometric information”
Insight
Supervisory Focus: FRB Highlights
FRB Reports: Supervision and Regulation, Financial Stability
Insight
Clearing Agency Risk Management and “Living Wills”
Proposed changes to the Covered Clearing Agency Standards impacting margin requirements and the elements of recovery and wind-down plans
Insight
Form PF and Share Repurchase Disclosures: Final Rules
Expands investment adviser Form PF reporting and issuer disclosure of share repurchase plans and activity
Insight
FDIC Deposit Insurance Reform Options
Potential alternatives to the current deposit insurance system
Insight
Bank Supervision and Regulatory Change
Federal push for changes to financial services supervision and regulation
Insight
Enforcement/Supervision to “Automated Systems”
Ensuring “automated systems” development and use is consistent with federal laws
Insight
Financial Stability, Nonbank Supervision: FSOC Proposals
Analytic framework and related guidance for identifying, assessing, and responding to potential financial stability risks
Insight
Environmental Justice: New Executive Order
White House says “environmental justice is a duty of all executive branch agencies and should be incorporated into their missions”
Insight
Ensuring Trust in AI: Commerce Department Request for Comment
Seeking input on how to ensure that AI works as claimed and without causing harms
Insight
Bank Regulatory Change
Administration encourages federal banking agencies to make regulatory and supervisory changes
Insight
CFPB Small Business Lending Data (Section 1071)
Final rule governing data collection and reporting
Insight
FTC Recent Focus on Tech: Digital Advertising, Cloud
Increasing scrutiny of technology adoption and use
Insight
SEC Proposal to Expand Regulation SCI
Areas of focus: policies/procedures, incident notification, and system reviews/testing
Insight
SEC Proposals on Cyber Risk Management for Market Entities
Areas of focus: policies/procedures, cyber risk assessments, incident notification/disclosure, expanded coverage among participants
Insight
SEC Proposes Amendments to Regulation S-P
Changes to the Safeguards and Disposal Rules to address detection and notification of customer data breaches
Insight
DOJ Initiatives on Compensation, Voluntary Self-Disclosure
Continuing focus on accountability and cooperation
Insight
White House Announces National Cybersecurity Strategy
Calls to shift liability and investment and promote secure and resilient software products/services
Insight
Fraud, Identity Theft, and Other Scams
Approximately 5.15 million reports received from consumers in 2022
Insight
Russia-Ukraine War: Expanded U.S. Sanctions, FATF Action
U.S., G7, and other countries announce “expanded and intensified” Russia sanctions and set price caps on Russian-origin petroleum products
Insight
NAIC 2023 Strategic Priorities for State Insurance Regulators
Focus areas including climate risk, data/AI, cybersecurity, marketing, and consumer protections
Insight
SEC Proposes Amendments to the Custody Rule
Expands authority to all assets, including crypto
Insight
SEC final rule for T+1 settlement cycle
Shortening the securities transaction settlement cycle
Insight
Focus on Tech: Cloud, AI, Personal Data
Heightened regulatory expectations for technology risk management, operational resiliency, risk governance, data collection and privacy
Insight
Examinations: SEC 2023 Priorities
Focus areas include adherence to new rules, RIAs to private funds, retail investor “best interest” ESG-related services/funds, and “crypto-related” trading
Insight
Consumer Fees: CFPB Proposal on Credit Card Late Fees
Continued focus on consumer fees and “fairness”
Insight
SEC Examinations Risk Alert: Regulation Best Interest
Observations across the four components: Disclosure, Care, Conflict of Interest, and Compliance
Insight
DOJ Revises Criminal Division Corporate Enforcement Policy
"Benefits" for self-disclosure, cooperation, and remediation
Insight
Climate Risk: FRB’s Pilot Scenario Analysis and Risk Management Practices
Quantitative and qualitative measures for assessing impact of physical and transition risk
Insight
Examination and Risk Monitoring: FINRA 2023 Report
Outline of key risk areas and new topics
Insight
CFPB Proposal to Supervise Big Tech and Other Wallet/Payment Providers
Proposal to supervise “larger participants” in the nonbank market for “general-use consumer digital payment applications”
Insight
CFPB Regulatory Agenda
Continuing focus on fees
Insight
SEC Regulatory Agenda
Continuing its ambitious pace and breadth of activity
No results found.
Insight
Focus on Non-Bank Financial Firms, P2P Platforms, and Crypto Exchanges
Banks and non-banks should anticipate heightened regulatory attention
Insight
FRB Reports: Financial stability risks; Supervision and regulatory priorities
Large banks mitigate financial uncertainties; the FRB denotes “work to do” to meet supervisory expectations for governance and controls
Insight
Bank Lending: FRB Survey Indicates Industry Expects Mild Recession, Tightening Standards
Tightening of standards and terms across business loans; increased demand for credit card loans and HELOCs
Insight
Third party risk management: SEC Investment Adviser Proposal
New proposed oversight requirements for investment advisers using third party service providers
Insight
Consumer and Investor Fees: SEC, CFPB, and FTC Focus
Recent regulatory releases reinforce the increasing focus on fees
Insight
CFPB Proposals for Section 1033, Personal Financial Data Rights
Outline of proposals to implement section 1033 of the Dodd-Frank Act
Insight
Data Retention and Deletion: Increasing Regulatory Expectations
Regulators have heightened rulemaking and enforcement to strengthen recordkeeping, data retention, and data deletion requirements
Insight
Climate Risk: Insurance data collection; FSB progress reports
Continued focus on climate-related financial risks, related disclosures, and prudential oversight
Insight
Large Bank Resolution: FRB, FDIC Joint ANPR
Increasing concentration in the $250-$700 billion asset size prompts regulators to consider changes to LBO resolution requirements
Insight
Crypto and Digital Assets: FSOC, NY Fed Reports on Financial Stability Implications
Detailed reports on the financial stability risks of digital assets
Climate Risk: SEC’s Mandatory Climate Disclosures Proposal
Quantitative and qualitative elements would have far-reaching impacts
Insight
Climate Risk: FRB pilot scenario analysis
Measuring and managing climate-related risks
Insight
Crypto & Digital Assets: Treasury & DOJ Report Recommendations
A look at recommendations to inform future policies, including consumer/investor protections, financial crimes, and national security
Insight
DOJ shifts policies, encouraging compliance "incentives and deterrence"
Enhancing and investing in the ethics & compliance program
Insight
Regulation and supervision: Agencies preview forthcoming priorities
Key upcoming areas of focus
Insight
Inflation Reduction Act
Provisions to address energy production, carbon emissions reduction
Insight
OCC principles for large bank climate risk management
Large banks on notice for maturation of climate risk management programs
2021
Money market fund reforms
Insider Trading and Share Repurchases
Countering corruption: Beneficial ownership, Real-estate transactions
Regulatory focus on overdraft fees
Cryptocurrency activities
Cyber incident notifications
DOJ shifts policies, encourages companies to focus on compliance investment
Virtual assets and related providers | Updated FATF guidance
Infrastructure law adds new funding avenues
Board action: Climate risk questions for management
Interagency Report on Regulation of Stablecoins
CFPB issues consumer protection orders to Big Tech
FSOC issues climate risk recommendations
Transition away from LIBOR
Regulatory focus on cloud computing
CFPB supervisory and enforcement focus
Explore more regulatory insights
Insight
Points of View
Insights and analyses of emerging regulatory issues impacting financial services firms.
Insight
Regulatory insights view
Series covering financial services regulatory trends and emerging topics
Insight
Washington Report 360
A weekly newsletter covering legislative and regulatory developments affecting financial services firms—in 360 words or less.
Meet our team
Get the latest thinking from KPMG
KPMG Regulatory Insights comprise key industry practitioners and regulatory advisors from across the KPMG global network.