Washington Report 360 | January 3, 2020

Leveraged lending focus; LIBOR transition concerns; FinCEN focus on terrorist financing; SECURE Act passed; COSO guidance on blockchain

Key Highlights

  • Focus on leveraged lending will continue as highlighted by the FSB report and FDIC supervisory insights.
  • Continued regulatory LIBOR transition concerns to meet the 2021 requirement (FSB report and new NY DFS requirement).
  • FinCEN is expected to focus its investigative powers on terrorist financing, human trafficking, and fraud.
  • The SECURE Act became law and expands access to multi-employer plans and participation for part-time employees.
  • COSO will issue guidance in 2020 on internal controls for blockchain, compliance risk management principles, and risk appetite statements; COSO issued guidance for managing cyber risks in mid-December.

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