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A law that repealed part of the Glass-Steagall Act, allowing commercial banks, investment banks, securities firms, and insurance companies to consolidate.

A law enacted by the U.S. Congress in 1933 as part of the New Deal that prohibited commercial banks from engaging in the investment business. It was one of the measures taken to manage the risk in the financial sector after the Stock Market Crash of 1929.

A rule that required financial advisers to act in the best interest of their clients, and to put their clients' interests above their own when managing retirement accounts.

A council of United States financial regulators, established by the Dodd-Frank Act, that is charged with identifying risks to the financial stability of the United States, promoting market discipline, and responding to emerging risks to the stability of the United States financial system.

An intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering. In 2001, its mandate expanded to include terrorism financing.

An act passed by U.S. Congress in 2002 to protect investors from the possibility of fraudulent accounting activities by corporations. It mandated strict reforms to improve financial disclosures from corporations and prevent accounting fraud.

A U.S. government oversight agency responsible for regulating the securities markets and protecting investors. It oversees the key participants in the securities world, including securities exchanges, securities brokers and dealers, investment advisors, and mutual funds.

A federal regulation that generally prohibits banks from conducting certain investment activities with their own accounts and limits their dealings with hedge funds and private equity funds, also called covered funds.

The Markets in Financial Instruments Directive, which is legislation by the European Union that provides a legal framework for securities markets, investment intermediaries, and trading venues. Its aim is to offer greater transparency for investors and regulators.

A federal law that places regulation of the financial industry in the hands of the government. Its purpose is to prevent the recurrence of events that caused the 2008 financial crisis.

The Foreign Account Tax Compliance Act, a United States federal law that requires U.S. persons to report their financial accounts held outside of the U.S., and requires foreign financial institutions to report to the Internal Revenue Service about their U.S. clients.

A regulatory agency charged with overseeing financial products and services that are offered to consumers. It focuses on preventing predatory mortgage lending, improving the clarity of mortgage paperwork for consumers, and reducing incentives for mortgage originators to push borrowers towards more risky loans.

A set of procedures, laws, and regulations designed to stop the practice of generating income through illegal actions. It requires financial institutions to monitor customers' transactions and report on suspicious financial activity.

Legislation enacted by the U.S. Congress in 1970 to prevent financial institutions from being used as tools by criminals to hide or launder their ill-gotten gains. This act requires banks to report transactions over $10,000 and any suspicious activity that might signify money laundering, tax evasion, or other criminal activities.$

An act of Congress signed into law in 2001 that was designed to provide law enforcement agencies with the tools necessary to combat terrorism. The act has significant implications for financial institutions and their Customer Identification Programs (CIPs), and it enhances the due diligence requirements for U.S. banks.

A set of international banking regulations developed by the Basel Committee on Banking Supervision, which aims to strengthen bank capital requirements by increasing bank liquidity and decreasing bank leverage.

The European Market Infrastructure Regulation, which is an EU regulation that aims to increase the stability of the over-the-counter (OTC) derivative markets throughout the EU states.

An independent agency of the US government created in 1974, which regulates the U.S. derivatives markets, including futures, options, and swaps.

A standard in the investment industry that ensures investment advisors know detailed information about their clients' risk tolerance, investment knowledge, and financial position. KYC protects both clients and investment advisors.