United States

Banks that present less risk, including foreign banks, will have reduced requirements. An idea to subject US branches of foreign banks to new liquidity requirements has also been dropped.

The revisions continue to prohibit proprietary trading, while providing greater clarity and certainty for activities allowed under the law.

While the WFE welcomes the CFTC proposals as a step towards reducing regulatory fragmentation, it says they can be made more risk-sensitive and better tailored to today’s markets.

In a joint statement, the SEC, CFTC and FCA have pledged to work together to address “opportunistic strategies" that harm the credit derivatives market.

As settlement for underreporting CEO compensation, Nissan agreed to pay $15mn, while ex-CEO Carlos Ghosn will pay $1mn and get a 10-year officer and director bar.

The guides describe how cross-border trading will work following the CFTC-MAS, CFTC-FSA and EC-MAS agreements on mutual recognition of derivatives trading venues.

Between 2006 and 2014, Deutsche Bank hired relatives of executives of Chinese and Russian state-owned enterprises to generate business for the bank.

Two of five US agencies have approved the Volcker Rule revamp, which aims to simplify its requirements and give banks more flexibility to trade.

Eric A. Sohn at Dow Jones Risk & Compliance discusses the US’ ability to restrict a firm’s access to correspondent banking services and its financial markets.

The Fed and FDIC have accepted the resolution plans of 82 foreign banks, and granted an extra year extension before the next resolution plans need to be submitted.