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Read need-to-know updates, commentary, and analysis on Elections & Politics issues written by leading professionals.

AML and Sanctions: 2017 Trends and Developments

by WilmerHale on

Over the past year, regulators continued to actively examine compliance, introduce new and heightened requirements, recalibrate global priorities, and aggressively pursue enforcement. This report reviews recent trends and...more

The Impact of Tax Reform on Private Equity

If the past 12 months have taught us anything, it’s that the future is hard to predict. One need only look at the ascendancy of Brexit, President Donald Trump, or even the New England Patriots in the second half of the Super...more

CFPB Director Cordray Testifies Before House Financial Services Committee

by Goodwin on

On April 5, 2017, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the U.S. House of Representatives Financial Services Committee to present the CFPB’s semi-annual report, which is...more

Trump Prevents FSOC Designations and Bank Liquidations

In a Presidential Memorandum, President Trump directed the Secretary of the Treasury, as a member of the Financial Stability Oversight Council, not to cast a nonemergency vote to subject nonbank financial companies to...more

Draft Financial Choice Act 2.0 Prohibits Universal Proxy and Restricts Shareholder Proposals

The House Financial Services Committee has released a discussion draft of a revised Financial Choice Act. The Committee will hold a hearing on the Act on April 26, 2017....more

Colorado Regulator Proposes New Cybersecurity Rules for Financial Institutions

Increasingly, states are enacting cybersecurity regulations for financial institutions and investment advisors. Following New York’s groundbreaking regulation, Colorado recently proposed changes to its state...more

Private Equity and the New Trump Administration: Your Top Ten Questions Answered

by Foley & Lardner LLP on

The election of President Trump contained some positive signs for Private Equity (PE) fund managers. These included potential lower corporate taxes, a ten-percent tax holiday for funds parked overseas, large infrastructure...more

For the Second Time, Fiduciary Rule Applicability Date is Pushed Back

by Bass, Berry & Sims PLC on

In an unsurprising move, the Department of Labor (DOL) postponed the applicability date of the fiduciary rule on April 4 for an additional 60 days. The new applicability date for the rule is June 9, 2017, although the DOL...more

Securities Legislative Update – Elderly Investors 2017

The SEC recently approved FINRA’s proposed rule aimed at preventing fraud and abuse of senior investors. On March 30, FINRA issued Regulatory Notice 17-11, setting the effective date for the new rule as February 5, 2018. The...more

Will New Administration Speed VA Summary Prospectus?

by Carlton Fields on

President Trump’s nominee for SEC Chairman, Jay Clayton, could speed authorization of the variable annuity (VA) summary prospectus and related layered disclosure and shortened underlying fund report to shareholders. Doing so...more

Modernisation of UK limited partnership legislation: private investment funds

by Dentons on

A new form of limited partnership, the private fund limited partnership (PFLP), has been introduced in the UK from 6 April 2017. This follows industry lobbying to modernise UK limited partnership law and preserve the UK...more

DOL’s Fiduciary Rule: On the Road to More Change?

by Burns & Levinson LLP on

The latest chapter in the 6-1/2 year history of the Department of Labor (DOL) final Fiduciary Rule is a 60-day delay of part of the final regulations, and a delay until January 1, 2018 for certain disclosures and other...more

Bridging the Week - April 2017 #2

SEC Chairman Nominee Advances: Jay Clayton took another step to becoming chairman of the Securities and Exchange Commission when the US Senate Committee on Banking, Housing and Urban Affairs approved his nomination for the...more

Availability of Tribal Economic Development Bond Allocations

by Holland & Knight LLP on

Based on a recent Internal Revenue Service (IRS) announcement, the Published Value Cap Limit for Tribal Economic Development Bonds (TEDBs) is steadily shrinking...more

Update on the Department of Labor’s New Fiduciary Rules and Subsequent Challenges

On April 6, 2016, the Department of Labor under the Obama administration issued a new final rule and exemptions addressing when a person providing investment advice with respect to an employee benefit plan or individual...more

"DOL Finalizes Delay of Conflict of Interest Rule"

On April 4, 2017, the Department of Labor (DOL) released its final rule providing a 60-day delay of the April 10, 2017, applicability date of its conflict of interest regulation (the so-called fiduciary rule) and related...more

ERISA's Fiduciary Rule - Not Dead Yet?

by Dechert LLP on

The controversial new fiduciary regulation of the U.S. Department of Labor (the “DOL”), together with related new and amended “prohibited transaction” exemptions (collectively, the “Rule”), had been scheduled to become...more

DOL Fiduciary Rule Delayed, But At Least Parts Might Be Here to Stay

On April 4, 2017, the U.S. Department of Labor issued a final rule postponing applicability of the conflict of interest rule and related exemptions for sixty days, until June 9, 2017...more

CFTC Initiates Project KISS

In remarks at a conference, CFTC Acting Chairman J. Christopher Giancarlo announced the CFTC’s intent to comply with an Executive Order which requires each agency to designate a Regulatory Reform Officer and establish a...more

President Trump Nominates J. Christopher Giancarlo as Chairman of the US Commodity Futures Trading Commission

by Shearman & Sterling LLP on

President Donald J. Trump nominated J. Christopher Giancarlo to serve as Chairman of the US Commodity Futures Trading Commission...more

The JOBS Act at Five: Congressional Hearing Highlights Need for Further Reform

by Farrell Fritz, P.C. on

On March 22, the Subcommittee on Capital Markets, Securities, and Investment of the Financial Services Committee conducted a hearing entitled “The JOBS Act at Five: Examining Its Impact and Ensuring the Competitiveness of the...more

New Executive Order Directs Federal Agencies to Trim The Fat

by Seyfarth Shaw LLP on

Seyfarth Synopsis: President Trump’s executive order directs all federal agencies to point out where they can be trimmed down to meet his proposed budget. On Monday, March 13, President Trump signed Executive Order 13781...more

Senate Banking Committee Focused on Deregulation

by Dorsey & Whitney LLP on

On March 9, 2017, the Senate Banking Committee passed a series of four bills focused on deregulation, including one that would make it easier for privately held companies to issue stock awards through equity compensation...more

Is it Time to Streamline Financial Regulation?

by Morrison & Foerster LLP on

A March 13, 2017 presidential order requiring a comprehensive plan to reorganize the executive branch could be the first step toward streamlining the financial regulatory structure. The Executive Order requires the...more

Acting (and Potentially Permanent) CFTC Chairman Warns of “Aggressive and Assertive Enforcement Action by the CFTC Under the Trump...

In remarks before the International Futures Industry Conference, Acting Chairman J. Christopher Giancarlo—who was just nominated by President Trump to be permanent Chairman—talked about the future of the Commodity Futures...more

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