share$447,125
Oriental Bank pays $447,125 for flood insurance violations
Issued by FDIC
Regulation R - Exceptions for Banks from the Definition of Broker in the Securities Exchange Act of 1934
Reg Letter:
R
Issuing Agency:
FRB Letter Classification:
Editor's Note:Effective dates: The addition of part 12 CFR 218 is effective September 28, 2007. Regulations at 12 CFR 218.781 ("Rule 781") are effective on September 28, 2007. Regulations at 12 CFR 218.100 through 218.780 are effective December 3, 2007.
Compliance date: Banks are exempt from complying with the rules and the "broker" exceptions in Section 3(a)(4)(B) of the Exchange Act until the first day of their first fiscal year that commences after September 30, 2008.
- Sec. 218.100 Definition.
- Sec. 218.700 Defined terms relating to the networking exception from the definition of "broker."
- Sec. 218.701 Exemption from the definition of "broker" for certain institutional referrals.
- Sec. 218.721 Defined terms relating to the trust and fiduciary activities exception from the definition of "broker."
- Sec. 218.722 Exemption allowing banks to calculate trust and fiduciary compensations on a bank-wide basis.
- Sec. 218.723</strong> Exemptions for special accounts, transferred accounts, and a de minimis number of accounts.
- Sec. 218.740 Defined terms relating to the sweep accounts exception from the definition of "broker."
- Sec. 218.741 Exemption for banks effecting transactions in money market funds.
- Sec. 218.760 Exemption from definition of "broker" for banks accepting orders to effect transactions in securities from or on behalf of custody accounts.
- Sec. 218.771 Exemption from the definition of "broker" for banks effecting transactions in securities issued pursuant to Regulation S.
- Sec. 218.772 Exemption from the definition of "broker" for banks engaging in securities lending transactions.
- Sec. 218.775 Exemption from the definition of "broker" for banks effecting certain excepted or exempted transactions in investment company securities.
- Sec. 218.776 Exemption from the definition of "broker for banks effecting certain excepted or exempted transactions in a company’s securities for its employee benefit plans.
- Sec. 218.780 Exemption for banks from liability under section 29 of the Securities Exchange Act of 1934.
- Sec. 218.781 Exemption from the definition of "broker" for banks for a limited period of time.
- Authority
First published on:
12/10/2013
Banker Tools View All
A collection of useful resources for various areas of the bank which have been developed by members of the BankersOnline staff or have been created and contributed by users of the BankersOnline site.
Banker ToolsPenalties View All
$1,500
Spring Valley Bank pays $1,500 for flood insurance rules violations
Issued by FDIC
$13,000
CNB Bank pays $13,000 for flood insurance rules violations
Issued by FDIC
$80,500
Guaranty Bank and Trust pays $80,500 flood insurance penalty
Issued by FDIC
$2,000
Collins State Bank pays $2,000 for flood insurance violations
Issued by FDIC
$31,000
Opportunity Bank of Montana pays $31,000 for flood insurance violations
Issued by FRB
$70,000
First Interstate Bank pays $70,000 flood insurance penalty
Issued by FRB
$4,800
North Shore Bank of Commerce pays $4,800 for flood insurance violations
Issued by FRB
$9,600
Select Bank pays $9,600 for flood insurance violations
Issued by FRB
$2,945,500
Regions Bank pays $2.95M for flood insurance violations
Issued by FRB
$2,614,456
PNC Bank, NA, pays $2.6M for flood insurance violations
Issued by OCC
$3,620,000
Michigan bank pays $3.6 million for flood insurance penalties
Issued by OCC
$40,500
Washington Federal pays flood penalty
Issued by OCC
$193,105.50
The Federal Savings Bank pays $193K flood penalty
Issued by OCC
$382,500
USAA FSB pays $382,500 flood insurance penalty
Issued by OCC
$3 BILLION
TD Bank to pay $3 billion and restrict growth for BSA/AML deficiencies
$100,000
Former credit union BSA officer fined $100K for multiple BSA violations
Issued by FinCEN
$25 million
Shinhan Bank America fined $25M by FDIC, FinCEN, and NYSDFS
Issued by FDIC, FinCEN, State Agency
$15 million
Puerto Rican IBE pays $15M for willful BSA violations
Issued by FinCEN
$1,500,000
Kingdom Trust Company pays $1.5M BSA penalty
Issued by FinCEN
$600,000
Bank of Morton ordered to pay $600,000 for BSA violations
Issued by FDIC
$25 million
Shinhan Bank America fined $25M by FDIC, FinCEN, and NYSDFS
Issued by FDIC, FinCEN, State Agency
$7,500,000
Bancorp Bank pays BSA/AML penalty
Issued by FDIC
$225,000
California Pacific Bank to pay BSA/AML penalty
Issued by FDIC
$1,250,000
Alma Bank - BSA/AML penalty
Issued by FDIC
$3 BILLION
TD Bank to pay $3 billion and restrict growth for BSA/AML deficiencies
$29,478,676
Metropolitan Commercial Bank fined $29.5M for CIP and vendor risk deficiencies
Issued by FRB, State Agency
$55.4 million
National Bank of Pakistan pays $55.4M for AML violations
Issued by FRB, State Agency
$15 million
U.S. Bancorp pays $15M for BSA/AML failures
Issued by FRB
$29 million
Mega International Commercial Bank pays $29M BSA penalty
Issued by FRB, State Agency
$3 BILLION
TD Bank to pay $3 billion and restrict growth for BSA/AML deficiencies
$6,000,000
Sterling Bank and Trust FSB pays $6 million for failings
Issued by OCC
$9 million
CommunityBank of Texas fined for BSA/AML violations
$2,500,000
Washington Federal Bank pays $2.5M BSA/AML penalty
Issued by OCC
$39,000
NJ bank director and BSA officer pay for BSA violations
Issued by OCC
$38 million
Interactive Brokers LLC paying $38M for BSA/AML failures
$12,500,000
Bank of China NY Branch gets BSA fine
$1,300,000
Aegis Capital assessed $1.3 million for SAR filing failures
$16.5 million
FINRA fines Credit Suisse Securities $16.5M for AML faults
Issued by FINRA
$300,000
Albert Fried & Company pays for SAR failures
Issued by SEC
$20M plus $7.76M redress
CFPB orders TD Bank, N.A. to pay $27.76 million for credit reporting violations
Issued by CFPB
$7,452,501
State Street settles for $7.5M penalty with OFAC
Issued by OFAC
$6,097.72
Utah bank fined for failure to pay FDIC assessment
Issued by FDIC
$250,000,000
OCC fines JPMorgan Chase Bank, N.A. for inadequate monitoring
Issued by OCC
$98,167,980
Fed fines JPMorgan Chase & Co. $98.2M for inadequate monitoring
Issued by FRB