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General Business Securities Finance & Banking

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Orrick's Financial Industry Week In Review

Financial Industry Developments - Treasury Department Report: Decreasing Regulatory Burdens, Increasing Regulatory Accountability and Fostering Economic Growth - On June 12, 2017, the U.S. Treasury Department released...more

The Financial Report, Volume 6, Number 12

by DLA Piper on

On June 8, the United States House of Representatives passed the Financial CHOICE (Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs) Act of 2017, which would repeal and replace the Dodd-Frank...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The US’s biggest banks had a good day yesterday on news that they “breezed through” the first phase of the Federal Reserve’s annual stress tests—a good sign that they “have enough capital to withstand the type of financial...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The latest Wall Street revolution appears to be driven in large part by companies like Creative Planning, a registered investment adviser in a suburb of Kansas City that’s helping lead a shift away from brokers and mutual...more

Second Circuit Holds that Contingent Equity-Based Compensation of Former Lehman Employees are Subordinate to Creditor Claims

In In re Lehman Bros. Holdings Inc. 855 F.3d 459 (2d Cir. 2017), the United States Court of Appeals for the Second Circuit affirmed a district court order subordinating the claims of former Lehman Bros. (“Lehman”) employees...more

Report Shows 2016 Record-Setting Year for Class Action and SEC Settlements

Last week, proxy advisory firm Institutional Shareholders Services (“ISS”) published its semi-annual report of the top 100 U.S. securities class action settlements and top 50 SEC settlements of all time, as of December 31,...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Uber CEO Travis Kalanick’s indefinite leave of absence just got a whole lot more definite with news late yesterday that, bowing to pressure from shareholders, Kalanick has resigned from his post altogether....more

OJK Simplifies the IPO Process and Enhances Disclosure

by White & Case LLP on

New regulations issued by the Indonesian Financial Services Authority (Otoritas Jasa Keuangan "OJK") aim to increase the number of public offerings in Indonesia by (1) shortening the regulatory review period by adopting a...more

Revenue Recognition Representations for M&A and Underwriting Agreements

Some have suggested that the FASB’s new revenue recognition standard will result in particularized representations in M&A, underwriting and loan documents. It’s easy to argue it’s not necessary and is covered by the standard...more

Department of Labor Secretary Acosta Announces Partial Implementation of the Fiduciary Rule

On May 22, 2017, Department of Labor (DOL) Secretary Alexander Acosta announced in an op-ed in the Wall Street Journal that the DOL will not issue another delay of the “fiduciary rule,” set to become generally effective on...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Here we were watching Amazon for a Slack pick-up, and all the while it had its eyes set on Whole Foods. Jeff Bezos added the upscale grocery giant to Amazon’s expanding portfolio for $13.7 billion on Friday (perhaps kicking...more

“Sting” Money Laundering Scheme and Cooperating Client Ensnares Attorney

by Ballard Spahr LLP on

The District Court for the Eastern District of New York has denied motions for acquittal and new trial by a Florida attorney convicted at trial of assisting in an undercover money laundering “sting” operation....more

CFTC Adopts Amendments to its Recordkeeping Rules

by Morrison & Foerster LLP on

On May 23, 2017, the Commodity Futures Trading Commission (“CFTC”) finalized rule amendments to its recordkeeping rule, CFTC Reg. 1.31, as well as related technical amendments to CFTC Regs. 1.35 and 23.203. CFTC Reg. 1.31...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Federal Reserve Board Approves Extended Transition Period for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to Conform Investments in Certain "Illiquid Funds" to Requirements of...more

Kennis bestuurder/aandeelhouder wordt toegerekend aan vennootschap (Dutch)

by Dentons on

Recently a ruling from the Gelderland Court has been published which deals with the unlawful conduct of a company in granting a right of mortgage for the security of a debtor's debt....more

2017 CREFC Annual Conference: Into the Heart of the Swamp

by Dechert LLP on

CREFC held its Annual Conference last week in Washington D.C. Given the current politically charged climate, 2017 felt like a very appropriate time to move the Annual Conference from its traditional home in New York to...more

SEC Charges Chief Compliance Officer with AML Violations

The SEC announced that John David Telfer, the former chief compliance officer and anti-money laundering (AML) officer of a registered broker-dealer, agreed to a securities industry bar to settle charges in a pending...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

There’s been a hitch in Saudi Aramco’s IPO plans (mind-boggling $2 trillion possible valuation and all): where to list. The frontrunners, by the way, are the London Stock Exchange and the NYSE....more

Covered Bonds: i risultati dell’Impact Study presentato dalla Commissione europea ed il nuovo programma legislativo comunitario

Il 17 maggio 2017 la Commissione europea ha pubblicato lo studio "Covered Bonds in the European Union: harmonisation of legal frameworks and market behaviours". Il report comprende una overview del mercato europeo dei Covered...more

Registered CPOs and CTAs: Prepare for June 30 Changes to NFA Forms PQR and PR

by Dechert LLP on

Beginning with the second quarter 2017 filings, registered commodity pool operators (CPOs) and commodity trading advisors (CTAs) (collectively, Registrants) will need to report financial information regarding their own...more

Dodd-Frank Re-Write—the House of Representatives Edition

The House has approved major changes to signature aspects of Dodd-Frank. While those changes are unlikely to survive intact, they are certainly worthy of close attention. We’ve studied the nearly 600-page bill so you don’t...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Uber made it official today, announcing that controversial CEO Travis Kalanick will be taking an indefinite leave of absence, though even the announcement and board commentary that followed seemed to highlight the “bad-boy...more

Food for Thought, part 4

Below, a continuation of our bibliography of thought-provoking articles on issues related to right-sizing regulation, staying private versus going public, and related topics...more

TechConnect - Your Law Firm Link to Industry News - June 2017

by Mintz Levin on

Seniority Matters - There is little doubt that activity in the trading of secondary shares of private companies remains robust. Private companies are staying private longer and there seems to be an unlimited demand to buy...more

The Financial Report, Volume 6, Number 11

by DLA Piper on

Discussion and Analysis - In an opinion piece published in the Wall Street Journal on May 23, Labor Secretary Alexander Acosta announced that, out of respect for the “rule of law,” the controversial “Fiduciary Rule” will...more

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