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Compliance

4 Ways to Help Investors Understand the CECL Transition: Disclosure Tips

By Mary Ellen Biery, Sageworks

October 23 — As Securities and Exchange Commission (SEC) filers prepare to meet the deadline to implement the FASB’s current expected credit loss model, or CECL, for fiscal years beginning after Dec. 1, 2019, SEC registrants are weighing what CECL transition disclosures to provide about the new standard and its expected impact. Some investors are already beginning to see early disclosures about the new standard.

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Where Do Financial Institutions’ Communications Risks Originate?

October 19 — A survey  of compliance professionals in the financial inudstry by Portland, Ore.-based Smarsh, found that organizations may not be keeping pace with their retention and supervision efforts — particularly with a growing, younger workforce that relies on expanding, mobile-friendly channels, such as social media and text messaging. As a result, evolving technologies and shifting demographics within the workforce, and within firms’ customer bases, are forcing organizations to rethink their approach to the adoption and oversight of electronic communications.

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What Does a Private Equity Acquisition of a Customer Mean for an Existing Bank Creditor?

By John A. Thomson Jr. 

The way that middle market companies are capitalized has changed, likely forever. Middle market companies have traditionally been owned and operated by an entrepreneur or team of businesspeople who built the business, actively managed it and had a significant, if not controlling, stake in the financial success of the business. Now private firms and family offices are increasingly acquiring these companies.

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Are HIDTAs Addressed in Your BSA/AML Risk Assessment?

Sponsored Content

By Craig Johnson

According to the FFIEC BSA/AML Examination Manual, identifying geographic locations that may pose a higher risk is essential to a financial institution’s BSA/AML compliance program. U.S. financial institutions should understand and evaluate the specific risks associated with doing business in, opening accounts for consumers from, or facilitating transactions involving certain geographic locations. When considering BSA risks, focus on the geographic locations unique to your financial institution, and in particular, high intensity drug trafficking areas (HIDTAs). Many financial institutions have their main headquarters or branch locations in small towns or rural areas and perhaps not in an area where HIDTAs are top of mind, but many are located in or adjacent to counties designated as HIDTAs.

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Smallest Banks in Missouri Pay More for Regulatory Compliance

August 20 — The smallest community banks in Missouri may be dedicating an equivalent of 18 percent of their workforce to comply with regulations that govern how they operate.

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