Federal Reserve Board Reaches Over SEC for US Broker-Dealers of Foreign Banking Organizations

    View Author January 2013
    The Dodd-Frank Wall Street Reform and Consumer Protection Act directs the Board of Governors of the Federal Reserve System (Federal Reserve Board) to impose enhanced prudential standards on bank holding companies, including foreign banking organizations, with total global consolidated assets of $50 billion or more. To this end, the Federal Reserve Board recently proposed rules that would implement the enhanced prudential standards (as well as some early remediation requirements). The enhanced prudential standards include risk-based capital and leverage requirements, liquidity standards and risk management measures, among other things.