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The EU General Court Gets a Rap on Its Knuckles

In Groupement des cartes bancaires, the EU Court of Justice severely reprimanded the General Court for its failure to properly analyze a restriction of competition ‘by object’ within the meaning of Article 101(1) TFEU....more

Cybersecurity Litigation Monthly Newsletter

As we discussed in July, Tiversa, a “cyber-intelligence” company, notified the FTC in 2009 that a file containing the personal information of about 9,300 LabMD patients was available on a peer-to-peer file sharing network....more

FRB Issues Proposed Rules to Repeal Regulation AA, as Required by Dodd-Frank

On Wednesday, August 27, the Board of Governors of the Federal Reserve System (the “Board”) published in the Federal Register proposed rules and a request for public comment to repeal its Regulation AA (Unfair or Deceptive...more

New Structure of Kazakhstan’s Government

On 6 August 2014 the President of the Republic of Kazakhstan issued Decree on reorganization of the Government (the “Decree”). The Decree envisages integration of ministries or certain authorities of theirs into one...more

Ongoing Tension Between Filed-Rate And State Doctrines

In a Sept. 13, 2012 Competition Law 360 article, we discussed the Third Circuit’s opinion in McCray v. Fid. Nat’l Title Ins. Co., in which the Third Circuit applied the filed-rate doctrine to title insurers’ rate filings with...more

FTC Raises Hart­-Scott­-Rodino Thresholds

Transactions closing as of February 11 will be subject to increased HSR Act jurisdictional and filing fee thresholds. On January 10, the Federal Trade Commission (FTC) announced that it will raise the Hart-Scott-Rodino...more

Corporate and Financial Weekly Digest - January 4, 2013

In this issue: - CII Submits Rule 10b5-1 Rulemaking Petition to the SEC - ISS Publishes Updated FAQs for its Proxy Voting Policies - CFTC Issues Final Order on Cross-Border Swaps - CFTC Issues No-Action...more

FTC Report On Interchange Fees Addresses Community Banks

The Dodd-Frank Wall Street Reform and Consumer Protection Act amended the Electronic Fund Transfer Act, or EFTA, to restrict interchange fees and to prohibit exclusive networks for debit card transactions. The Federal Trade...more

Federal Trade Commission Report on Activities Related to Section 1075 of the Dodd-Frank Act

Pursuant to the FY2012 Omnibus Appropriations Legislation, the FTC recently released a report to Congress (“Report”) on the FTC’s enforcement, outreach and other activities implementing the Durbin Amendment rules, as well as...more

Corporate and Financial Weekly Digest - December 14, 2012

In this issue: - CFTC Issues No-Action Letters - SEC Division of Investment Management Lifts Actively-Managed ETF Derivatives Use Moratorium and Announces Two Rulemaking Initiatives - Antitrust “Tying” Claims...more

Your Chinese Trading Partners’ SAFE Status May Impact Your Payment Terms

Chinese currency (renminbi or RMB) is not an internationally convertible currency. A Chinese company needs to convert its RMBs into internationally circulated currencies to pay for imported goods or convert foreign currencies...more

CSRC Further Opens China’s Investment Banking Market – But Just a Little

The China Securities Regulatory Commission (“CSRC”) recently amended the Rules on the Establishment of Foreign-Invested Securities Companies (????????????; the “FISC Rules”) to raise the cap on the permissible foreign stake...more

Mortgage Banking Update - October 19, 2012

In This Issue: - FTC Settles FCRA Enforcement Actions Alleging Wrongful Sale and Use of Prescreened Lists - Colorado Court of Appeals Finds “Fractional Interests” Not Lots under the Interstate Land Sales Full...more

Employers Must Update FCRA-Required Forms

The Consumer Financial Protection Bureau (CFPB) has released new regulations requiring employers to update forms mandated by the Fair Credit Reporting Act (FCRA) by January 1, 2013. The changes consist primarily of...more

China Bulletin - Business, Trade and Competition - October 2012

In This Issue: - China Seeks Comments on Draft Patent Law - China Requests WTO Consultations with United States Regarding PL 112-99, Certain AD/CVD Measures - Taiwan Signs Agreements on Investment Protection...more

New FCRA Forms Take Effect January 1, 2013

Employers must adopt new Fair Credit Reporting Act (FCRA) forms by January 1, 2013, in light of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 shifting FCRA rulemaking authority from the Federal Trade...more

The Implications of Private LIBOR Litigation

Like other major financial controversies, the London Interbank Offered Rate (“LIBOR”) case is spawning private litigation in the United States. The dangers of an antitrust violation include treble damages in private suits...more

The LIBOR Scandal Unraveled

The LIBOR “scandal” could have far-reaching implications for financial institutions in the United States and global markets. It is hard to know exactly how the issue will play out. The Department of Justice is definitely...more

No shortage of enforcement targets for CFPB and FTC

David Vladeck, the Director of the Bureau of Consumer Protection at the Federal Trade Commission, spoke at a program entitled “Applying Long-Standing FTC Standards to New Technology” held this past Friday at the American Bar...more

FTC Submits Staff Comments on CFPB’s Proposed Prepaid Card Regulation

On July 30, the FTC released staff comments submitted in response to the CFPB’s Advance Notice of Proposed Rulemaking regarding the regulation of prepaid cards. The CFPB issued the Notice in May, noting its intention to...more

Credit Interchange Settlement: The Impact on Selected Future Transactions

Much has been and will be written about the Memorandum of Understanding, filed on July 13, 2012, that sets out the parties’ binding obligation to enter into a class settlement agreement in the long-pending interchange fee...more

SFO Press Release on Manipulation of LIBOR

On July 2, the Serious Fraud Office (SFO) published a press release regarding the manipulation of the setting of the London Interbank Offered Rate (LIBOR). In the press release, the SFO stated that it had been working...more

Explanation of the Alleged LIBOR Manipulation Scheme

Good background on the alleged scheme to manipulate LIBOR. Via NPR’s Planet Money program, again. About halfway through, the program discusses allegations of interbank agreements to manipulate reported LIBOR rates. (It’s...more

OFAC’s Long Arm of the Law

Who would have ever guessed that the largest corporate penalty paid in 2012 would be an OFAC enforcement action. The Justice Department has many major FCPA enforcement actions in the queue awaiting approval and public...more

Mobile Carrier Billing – At Risk?

Carrier billing is certainly not new to the payments industry, but as digital technologies continue to evolve, companies have increasingly looked to mobile carrier billing to improve the reach and efficiency of digital...more

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