Regulation of Financial Institutions

This guide is meant to help you find laws and information regarding the regulation of financial institutions; the goal is to provide useful (but not exhaustive) resources. 

Good research requires analysis and synthesis of information, and no one resource will likely provide sufficient information or data on any given topic.

While conducting your research, you may want to explore: 

• Laws and regulations governing financial institutions

• Government, industry, and/or advocacy organizations relating to financial institutions

• Secondary sources, including treatises, articles (both scholarly and practical), and practice or study aids

• News sources and other current awareness

For many of the relevant databases, you will need your Harvard Key or University ID and PIN.  For others, you may need to register with your Harvard email address to gain access.  If you have any trouble accessing a database, please contact the library.

The following legal research databases all contain Practice Centers or Practice Areas concerning the regulation of financial institutions. While each database provides links to the relevant statutes, regulations, administrative guidance, and case law, they each offer a different array of secondary sources and practice tools. As a result, it is a good idea to consult as many as possible.

Financial institutions are governed by both federal and state law. - this guide will focus on federal law. Below are links to a number of publicly available sources of statutes and regulations concerning the regulation of financial institutions. In addition, you can use various legal research databases (e.g., Bloomberg Law, Lexis, and Westlaw) to access these laws.

US Statutes

• Title 12 US Code -  Banks & Banking
• Laws that Govern the Securities Industry Part of the SEC website; provides information about – and links to – the full text of:
  • the Securities Act of 1933,
  • the Securities Exchange Act of 1934,
  • the Trust Indenture Act of 1939,
  • the Investment Company Act of 1940,
  • the Investment Advisers Act of 1940,
  • the Sarbanes-Oxley Act of 2002,
  • the Dodd-Frank Wall Street Reform & Consumer Protection Act, and
  • the Jumpstart Our Business Startup Act

Congressional Committees

• U.S. Senate Committee:  Finance
• U.S. House Committee:  Financial Services

US Regulations

• Code of Federal Regulations

Title 12:  Banks & Banking
Title 13:  Business & Credit Assistance
Title 16:  Commercial Practices
Title 17:  Commodity and Security Exchanges
Title 31:  Money and Finance: Treasury

• Rules & Regulations for the SEC and Major Securities Laws (Part of the SEC website.)
• Federal Register's Money Section (government agency rules, proposed rules, and public notices relating to financial matters, published on a daily basis, excluding federal holidays)

Federal Regulatory Agencies

A number of federal agencies and sub-agencies oversee and regulate financial institutions and financial markets in the U.S., each with specific responsibilities but with the common goal of protecting investors and consumers through sensible regulations.

Commodities Regulation

• Commodities Futures Trading Commission (CFTC)

Consumer Protection

• Consumer Financial Protection Bureau (CFPB)
• Federal Housing Administration
• Federal Housing Finance Agency
• Financial Stability Oversight Council (FSOC)

Depository Institutions

• Federal Deposit Insurance Corporation (FCID)
• Federal Financial Institutions Examination Council
• Federal Reserve System (the Fed)
• National Credit Union Administration
• Office of the Comptroller of the Currency (OCC)

Pensions

• Department of Labor's Employee Benefits Security Administration (EBSA)
• Internal Revenue Service (IRS) - Retirement Plans
• Pension Benefit Guaranty Corporation (PBGC)

Securities

• Securities and Exchange Commission (SEC)

Tax

• Internal Revenue Service (IRS)

• National Futures Association

• Center for Responsible Lending

DEPOSITORY INSTITUTIONS

• American Banking Association
• American Council of State Savings Supervisor
• Conference of State Bank Supervisors
• National Association of State Credit Union Supervisors

• National Association of Insurance Commissioners

• National Conference of Insurance Guaranty Funds
• National Organization of Life & Health Insurance Guaranty Associations
• State Insurance Department Web-sites (from the National Association of Insurance Commissioners website)

INTERNATIONAL ORGANIZATIONS

• Bank for International Settlements (BIS)

• Institute of International Bankers
• Institute of International Banking Law & Practice (IIBLP)
• International Monetary Fund (IMF)
• International Organization of Securities Commissions (IOSCO)
• Organisation for Economic Co-operation & Development (links to OECD iLibrary)

• Employee Benefit Research Institute

• Financial Industry Regulatory Authority (FINRA)
• Investment Company Institute
• Nasdaq Stock Market
• New York Stock Exchange (NYSE)
• North American Securities Administrators Association
• Securities Investor Protection Corporation

The following legal research databases all contain Practice Centers or Practice Areas concerning the regulation of financial institutions. While each database provides links to the relevant statutes, regulations, administrative guidance, and case law, they each offer a different array of secondary sources and practice tools. As a result, it is a good idea to consult as many as possible.

If you are trying find regulatory information (e.g., information about new or proposed regulations, administrative rulings or other guidance), corporate disclosures, industry news, real-time data, or law/accounting firm memos that include analysis of securities, M&A, tax or other issues, here are some useful tools you can use.

Bloomberg Law (requires individual account):

• ​Federal Banking and Finance Regulation Tracker (Banking & Finance Practice Center)
• SEC Filings:
  • Click on the "Transactional" tab to see the options.
    • Click on "EDGAR Search" to search for SEC filings.
      • When using the EDGAR search template, be sure to click the "Browse Full List" links to see all your options.
      • For example, the Full List under "Forms" includes several options for searching SEC Staff Comment Letters (in addition to SEC Forms, Statements, Exhibits, etc.).
    • Click on "SEC No-Action Letters" to search for SEC No-Action Letters.
      • Again, be sure to click on the "Browse Full List" links to see all your options.
  • For guidance in constructing SEC/EDGAR searches:
    • Go to the "Transactional Intelligence Center Home" (link listed under the "Transactional" tab)
    • Click on "Example Searches" link under "Securities Filings"
    • Expand the menus to see a wide variety of possible searches.
      • If you can't find the exact searach you need you may be able to find a related search you can adapt to meet your needs.
• Law Firm Analysis & Law Firm Client Alerts:
  • Run a search using the main search bar (make sure the indicator to the immediate left of the search bar shows "All Content").
  • Then use the Filtering Tools in the left margin to focus your search results.
    • Under "Content Types," click on "See All Content Types"
    • Then click on "Law Firm Research" to only show relevant Articles and Client Alerts produced by law firms.
• Enforcement Analytics:
  • SEC Administrative Enforcement Analytics: Information about initial decisions issued in enforcement actions by Securities and Exchange Commission (SEC).
  • SEC ALJ Enforcement Analytics: Information about initial decisions issued in enforcement actions by Securities and Exchange Commission (SEC) Administrative Law Judges (ALJs).

Lexis Intelligize (formerly known as Securities Mosaic) (requires your HUID & PIN):  

• Securities Regulation and Compliance (A curated collection of statutes, regulations, and SEC administrative material pertinent to US capital markets.)
• SEC Filings (Another platform to search the SEC's EDGAR database. When possible, Intelligize provides links to the exhibits incorporated by reference in each filing.)
• Firm Memos (Search memos written by law, accounting, and consulting firms on a wide variety of topics.)

Westlaw (requires individual account):

• Laws, Rules & Agency Materials (Finance & Banking Practice Area)
• SEC Filings (see EDGAR Filings & Disclosures)
• Administrative Decisions & Guidance 
• Practical Law (Regulation of Financial Institutions)

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