The Federal Reserve Board (FRB) published a final rule implementing policy changes to procedures governing the provision of intraday credit to U.S. branches and agencies of foreign banking organizations (FBOs). The changes are intended to refine the methods for determining the level of intraday credit that these branches and agencies can receive from the Federal Reserve Banks.
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Commission helps Member States to better apply EU environment rules to protect citizens and enhance their quality of life. The Commission published the second Environmental Implementation Review, part of its initiative launched in 2016 to improve the implementation of European environmental policy and commonly agreed rules in all EU Member States.
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The Securities and Exchange Commission charged the former CFO and two former employees of a publicly traded transportation company with fraud for manipulating the company’s financial results in order to meet earnings targets and projections. The SEC alleges that Peter Armbruster, the former CFO of Roadrunner Transportation Systems Inc., hid incurred expenses by improperly deferring and spreading them across multiple quarters to minimize their impact on Roadrunner’s net earnings. Armbruster then allegedly manipulated certain reductions to liabilities, creating an income “cushion” that could be accessed in future quarters to offset expenses. 

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The Financial Conduct Authority (FCA) begins regulating the claims management industry from 1 April. All claims management companies (CMCs) in England, Scotland and Wales will now have to demonstrate they meet and maintain minimum standards set by the FCA. All existing and new CMCs will need to apply to the FCA for authorisation. More than 900 CMCs have registered for ‘temporary permission’ to continue operating while they go through the FCA authorisation process.
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The European Commission has launched an infringement procedure by sending a Letter of Formal Notice to Poland regarding the new disciplinary regime for judges. The Polish government has 2 months to reply. The new disciplinary regime undermines the judicial independence of Polish judges by not offering necessary guarantees to protect them from political control, as required by the Court of Justice of the European Union. Firstly, the Commission is of the opinion that Poland failed to fulfil its obligations under Article 19(1) of the Treaty on European Union read in connection with Article 47 of the Charter of Fundamental Rights of the European Union, which enshrine a right to an effective remedy before an independent and impartial court.
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The Financial Conduct Authority (FCA) has published its final instruments and guidance that will apply in the event the UK leaves the EU without a deal or an implementation period. As the UK prepares to leave the EU, the FCA has been working to deliver a transition that is as smooth as possible. The package of documents published contains the majority of the final instruments and guidance, following the February publication of the FCA’s Policy Statement with near-final instruments.
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The Securities and Exchange Commission announced that Fresenius Medical Care AG & Co KGaA (FMC) has agreed to pay more than $231 million to resolve parallel SEC and U.S. Department of Justice investigations related to its violations of the Foreign Corrupt Practices Act (FCPA) across multiple countries for nearly a decade. The SEC’s order finds that FMC, a German-based worldwide provider of products and services for individuals with chronic kidney failure engaged in misconduct in Saudi Arabia, Morocco, Angola, Turkey, Spain, China, Serbia, Bosnia, Mexico, and eight countries in the West African region against a backdrop where the company failed to have sufficient internal accounting controls. 

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