Finance & Banking Updates

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This “Appeal” Of Whole Foods’ No-Action Letter Isn’t Very Appealing

Last week, James McRitchie submitted an “appeal” of the staff’s grant of no-action advice to Whole Foods Market, Inc. As explained in a post by Broc Romanek, Whole Foods was able to obtain that staff’s concurrence in...more

Questions You Should Ask Before Hiring a Lawyer for Your Midland Funding Case

Finding a lawyer to represent you in your debt collection lawsuit against junk debt buyers like Midland Funding, Portfolio Recovery, CACH, LLC (or any other junk debt buyer) can be a difficult task. There aren’t a lot of...more

“Cromnibus Act” Changes for Multiemployer and Single-Employer Defined Benefit Pension Plans

The Consolidated and Further Continuing Appropriations Act, 2015 (the so-called “Cromnibus Act”), enacted into law last week, is not just a $1.1 trillion spending bill that keeps most of the federal government open through...more

SDNY Follows Asadi: Internal Tipsters Not Dodd-Frank “Whistleblowers”

On December 5, 2014, the Southern District of New York in Berman v. Neo@Ogilvy, No. 14-cv-523, ruled that an employee who complains internally about securities law violations does not qualify as a “whistleblower” under the...more

The Glencore giant, the law’s Lilliputians, and the mining and metals markets: Glencore-Rio Tinto II: Can it negotiate the merger...

James Killick, John Tivey, Rebecca Campbell, Jan Jeram and Anthony Elghossain of global law firm White & Case examine the process and the issues that may arise should such a deal come to fruition. The market’s been...more

U.S. Imposes Further Sanctions on Russia and the Crimea Region - President Obama's Executive Order Mainly Targets the Activities...

Executive Order Relating to the Crimea Region - On Dec. 19, 2014, in a step coordinated with similar sanctions imposed by the European Union (EU), President Obama issued a new Executive Order targeting the Crimea Region....more

Three More Thoughts about United States v. Newman

In the wake of the Second Circuit’s huge remote tippee insider trading decision from two weeks ago in United States v. Newman, three more things occur to me. To recap, the court held that to be liable for insider trading in...more

OCC Releases Semiannual Report on Key Risk Areas

On December 17, the OCC announced the release of its semiannual report on key risk areas affecting the federal banking system. Specifically regarding community and midsize banks, the report identifies areas where the OCC...more

Orderly Unwinding: Here to Stay?

The International Swaps and Derivatives Association (ISDA) recently issued the ISDA 2014 Resolution Stay Protocol (Protocol), which takes effect on 1 January 2015. The Protocol aims to prevent adhering parties from...more

QSBS Tax Incentives Extended . . . For Now - Venture Capital and Early Stage and Emerging Companies Alert

What happened? - In the wee hours of December 16th, Congress passed H.R. 5771, the Tax Increase Prevention Act of 2014 (“TIPA”), a stopgap measure that, among other things, retroactively extends certain tax incentives...more

The Ten Most Significant Class Action Cases of 2014

Year-end lists are funny things. They take a sort-of arbitrary starting and stopping point, and then they cram a bunch of prejudices into a (usually) arbitrary number of items. And then people take them kind of seriously....more

The Conduct Code for Retirement Plan Sponsors

When we were in school, there was a conduct code. For some of us that have occupations that require a license, we have a code of conduct to follow as well. Unfortunately for plan sponsor, no one ever tells them that their...more

A Quick Guide To Venture Capital Law In Europe

How To Use This Guide: Private Equity and Venture Capital in Europe - Finance in Europe has been the subject of a wide range of new regulation since the onset of the economic downturn in 2007- 08. Increased...more

Consumers Permitted To Proceed With Data Breach Class Action Against Target

On December 18, 2014, the U.S. District Court for the District of Minnesota ruled, in a 46-page opinion, that a putative class of consumers could proceed with a majority of their claims against Target arising from the data...more

Downturn in the Oil and Gas Industry: It’s Time to Perfect Your Liens

Joint operations in the oil and gas industry long have been one of the conventional ways to reduce and spread the economic risks associated with exploration, drilling and production of crude oil and natural gas. With the...more

United States Changes Policy on Cuba

As widely reported, President Obama announced on December 17, 2014, significant changes to U.S. policy relating to Cuba. The broad policy revisions include the following...more

Worldwide Exchange of Tax Information: OECD Expands upon FATCA to Add New Requirements

While the Foreign Account Tax Compliance Act (FATCA) has focused worldwide attention on U.S. efforts to create a mandatory cross-border exchange of tax information, the enactment of FATCA was not an isolated occurrence. For...more

Financial Services Weekly News Roundup - December 2014 #4

Regulatory Developments - SEC Proposes Changes to Exchange Act Registration Requirements to Implement JOBS Act Mandates - The SEC announced that it is proposing rule amendments under the Securities Exchange Act...more

ALERT: Federal Government Announces Compensation for Employers of Reservists

On November 25, 2014 the Minister of National Defence, the Honourable Rob Nicholson, P.C., Q.C., announced a new Government of Canada program which will provide financial support to employers of Canadian Armed Forces...more

SB 628: Investing Tax Increment in Infrastructure and Economic Development

It will be slightly easier for municipalities and special districts to harness the tax increment for financing infrastructure projects under Senate Bill 628. Infrastructure Financing Districts, which have existed in...more

High Net Worth Family Tax Report, Vol. 9, No. 3

In This Issue: - Tax planning strategies to consider before the end of the year - The IRS announces inflation-adjusted amounts for 2015 - Case update: Taxpayer’s deduction for interest capitalized in loan...more

An Overview of the CFPB’s Proposed Prepaid Account Rule

The CFPB’s proposed prepaid account rule was published in the Federal Register today, kicking off a 90-day comment period for the public to voice their support or objections to the Bureau’s proposed revisions to Regulation E...more

Annual Penny-Wise, Pound-Foolish Award Winner Announced

When it comes to the annual Penny-Wise, Pound-Foolish Award, don’t ever bet against the United States Congress. This year, Congress lay back in the weeds until the year was almost over before making its move for the trophy. ...more

NY regulator settles lawsuit filed using Dodd-Frank authority

A settlement has been announced in the lawsuit filed by Benjamin Lawsky, the Superintendent of the New York Department of Financial Services, using his Dodd-Frank Section 1042 authority. Section 1042 allows state attorneys...more

12 of the Most Aggressive Junk Debt Buyers in Arizona

Over the years I have battled a lot of different junk debt buyers here in Arizona and while the underlying business model is generally the same between them all (they buy charged off debts and sue people), there are some...more

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