Payments Canada is seeking feedback on policy proposals that will shape a new by-law for Canada’s new high-value payments system, Lynx.   The proposals touch on key requirements including membership eligibility, payments finality and service charges deduction.   Stakeholders are to provide feedback by November 15, 2019.   Image by Jan

The U.S. federal financial regulatory agencies have finalized revisions to simplify compliance requirements relating to the “Volcker rule.”    By statute, the Volcker rule generally prohibits banking entities from engaging in proprietary trading or investing in or sponsoring hedge funds or private equity funds.   Under the revised rule, firms

The Office of the Comptroller of the Currency has amended stress testing requirements for national banks and federal savings associations.   The amendment, through a final rule, impacts stress testing requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act.   The final rule revises the minimum threshold for

The U.S. bank regulatory agencies have finalized updates to the management interlock rules.   Previously, the management interlock rules prohibited a management official working at a depository institution or holding company with more than $2.5 billion in total assets from simultaneously working at an unaffiliated depository organization with more than

The U.S. Commodity Futures Trading Commission (Commission) has fined six financial institutions over $6 Million for reporting failures.   The sanctioned financial institutions include HSBC Bank USA, N.A., Société Générale International Limited, Bank of New York Mellon, and The Northern Trust Company.   In addition to reporting failures, the regulator