Demonstrable command of the U.S. regulatory perimeter relevant to a wholesale branch: BSA/AML and OFAC sanctions obligations, federal and state supervisory expectations for foreign bank branches, and the SEC and CFTC regimes governing securities and derivatives activity — including how those regimes reach non-U.S. Material events and emerging risks — report medium and high-risk incidents, regulatory breaches, systemic control failures and significant operational changes; assess and report emerging risks and material business model changes in structured form.