Regulatory Alerts2024-01-12 | 2024-00650Rules of Practice for Hearings
The Board of Governors of the Federal Reserve System issued a final rule amending 12 CFR Part 263 to adjust civil money penalties for inflation as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This regulation updates the maximum penalty amounts for various statutory violations to account for inflation using the Consumer Price Index, with the adjusted penalties applying to violations occurring on or after November 2, 2015. The rule establishes specific adjusted monetary limits for penalties under statutes including the Federal Reserve Act, the Federal Deposit Insurance Act, and the Securities Exchange Act, effective January 12, 2024.
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