FRB & FDIC resolution plans; SEC adopts rule amendments/guidance package; New DOJ Export Controls and Sanctions Enforcement Policy
The FRB and FDIC found no “deficiencies” in resolution plans of the eight largest banking entities but did find “shortcomings” for six entities.
The SEC adopted a package of rule amendments, guidance, and a related order addressing the regulatory framework for cross-border security-based swaps. The adoption of this package triggers the compliance date for security-based swap entities to register with the Commission.
DOJ announced a new Export Controls and Sanctions Enforcement Policy that clarifies the benefits of voluntary self-disclosure of related violations as well as consequences of not reporting.