Browsing: International regulatory coordination

Compliance and Risk

ABA joined a broad coalition of advocacy organizations representing a range of industries in a letter to the Departments of Justice, Commerce and State and the Office of the Director of National Intelligence yesterday requesting that they convey to European regulators that “U.S. companies cannot be expected to explain U.S. government surveillance practices as they defend their use of [standard contractual clauses] for commercial [data transfers].”  

Newsbytes

In a follow-up to an April letter discussing COVID-19-related challenges regarding tax withholding, the American Bankers Association, the International Banking Federation and several other trade associations wrote to the Organization for Economic Cooperation and Development and the European Commission seeking additional relief for administering tax regulations for cross-border transactions.  

Economy

In remarks at a Harvard Law School event today, Federal Reserve Vice Chairman for Supervision Randal Quarles signaled that the Fed and the FDIC will revisit the capital and liquidity requirements in place for the largest U.S. and foreign firms and will seek public input on current “living will” guidance.

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