US Reg Round-Up: 27/05/2025
Federal Reserve
Agencies issue host state loan-to-deposit ratios (12 May 2025)
Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board, and Office of the Comptroller of the Currency (OCC) jointly issued updated host state loan-to-deposit (LTD) ratios, replacing those from May 2024. These ratios, mandated by Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, measure total loans against total deposits in a state for banks with that state as their home state.
Securities and Exchange Commission
SEC Charges Former Real-Estate Investment CEO with Operating Multimillion Dollar Ponzi-Like Scheme (22 May 2025)
The Securities and Exchange Commission (SEC) charged Kenneth Mattson, former CEO of LeFever Mattson, with defrauding approximately 200 investors, primarily retired senior citizens, of at least $46 million through a Ponzi-like scheme. From 2007 to April 2024, Mattson allegedly sold fake ownership interests in real estate investment limited partnerships, targeting investors through his church community. These fake interests were not recorded in legitimate partnership records, and funds were commingled for Ponzi-like payments, personal expenses, and transactions related to Mattson’s personal partnership, KS Mattson Partners LP. Mattson also allegedly misled investors into transferring funds from their IRAs to self-directed IRAs for these fraudulent investments. The SEC’s complaint, filed in the U.S. District Court for the Northern District of California, alleges violations of federal securities antifraud and registration provisions, seeking injunctions, disgorgement, civil penalties, and an officer/director bar. KS Mattson Partners LP is named as a relief defendant. Parallel criminal charges were announced by the U.S. Attorney’s Office for the Northern District of California.
SEC Announces Roundtable on Executive Compensation Disclosure Requirements (16 May 2025)
The Securities and Exchange Commission (SEC) announced a public roundtable to be held on June 26, 2025, to discuss executive compensation disclosure requirements. The event, hosted at the SEC’s Washington, D.C. headquarters, will be open to the public, streamed live on SEC.gov, and recorded for later viewing. SEC Chairman Paul S. Atkins outlined questions for consideration, inviting public comments before or after the event. Comments can be submitted electronically or on paper, referencing File Number 4-855, and will be publicly posted without redaction. The roundtable’s agenda and speakers will be announced closer to the date.