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Africa Focus: Sub-Saharan African power projects - Credit support and enhancement

by White & Case LLP on

Counterparty credit risk continues to remain a key, often threshold concern for private sector sponsors and lenders to the majority of power projects in sub-Saharan Africa. Structuring power projects in an effort to overcome...more

AML Beneficial Ownership Register for Irish Funds – Who’s Holding the Baby?

by Dechert LLP on

If you’ve been involved in the funds industry, you will be well aware of the ever-increasing focus on anti-money laundering and “know your customer” requirements by national and supranational regulatory bodies alike. In...more

Equifax Data Suppliers Urged by DFS to Give Hack “Highest Degree of Attention”

Yesterday, New York’s top financial regulator asked state-chartered banks and insurers to take immediate precautions to protect consumers and the financial markets “in light of the cybersecurity attack” at Equifax Inc....more

Directors’ liability D&O: Entering uncharted territory

by Allen & Overy LLP on

Welcome to this the fifth edition in our series of surveys on directors’ liabilities, brought to you by the international law firm Allen & Overy LLP and the global advisory broking and solutions company Willis Towers Watson....more

Africa Focus: Project bonds in the OHADA region - An option for funding infrastructure development in the OHADA region?

by White & Case LLP on

Increasing stringent capital requirements on banks has the market looking for alternative means of funding. In the developed economies, the Basel III accord aims that banks will increase the amount of capital that they hold...more

IG Evaluates SEC’s Disclosure Review and Comment Process

The Office of the Inspector General has issued an evaluation of the Division of Corporation Finance’s disclosure review and comment process. The report begins with a description of the Division’s comment process. Perhaps the...more

Significant Changes In Anti-Bribery Laws In Mexico And Colombia Signal A New Commitment To Anti-Corruption Efforts

by Morgan Lewis on

For companies with global operations, the Foreign Corrupt Practices Act (FCPA) is no longer the only anticorruption law of significance. Mexico and Colombia recently enacted sweeping anti-corruption legislation aimed at...more

A Conversation with the Division Director

At the September 15, 2017 meeting of the American Bar Association, the Director of the Division of the SEC’s Corporation Finance provided some comments regarding the Division’s work and priorities. Mr. Hinman reiterated the...more

Professor Sovern Disagrees with Senator Warren and Concedes that Consumers Do Well in Arbitration But Raises Another Red Herring

by Ballard Spahr LLP on

Professor Jeff Sovern has responded to our recent blog, “Senator Warren’s Numbers Don’t Add Up,” with a blog of his own. He does not contest the main point of our blog, which was that Senator Warren’s claim that consumers...more

Summary of key EU and U.S. regulatory developments relating to securitization transactions

by Hogan Lovells on

Numerous regulatory developments were enacted or proposed in the United States and the European Union in response to the financial crisis. Although some of the proposed changes are still in the process of being adopted or...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

So much for the quiet off-ramping for SoFi’s Mike Cagney. The fintech company’s board announced on Friday that Cagney is out immediately as CEO, not at the end of the year as Cagney had announced earlier in the week....more

Africa Focus: Arbitration in Africa - Managing risk in a growing market

by White & Case LLP on

Today, many areas of the African economy are still growing despite challenges due to sharp reductions in the price of oil and other natural resources. Besides the industries related to the continent's natural resources,...more

China Imposes Further Guidelines on Chinese Outbound Investments

by Morrison & Foerster LLP on

In response to the rapid decline in China’s foreign exchange reserves in 2016, the People’s Bank of China (“PBOC”), along with the National Development and Reform Commission (“NDRC”) and the Ministry of Commerce (“MOFCOM”)...more

Senior Managers and Certification Regime 2018 Extension: FCA Consults

by Morgan Lewis on

The Financial Conduct Authority has published a Consultation Paper containing its proposals to expand the Senior Managers and Certification Regime to all FSMA-authorised firms; the window for providing comments to the FCA...more

Credit Risk Retention Financing: Threading the Needle

by Morgan Lewis on

In order to finance ABS interests retained as required by the credit risk retention rules, a securitization sponsor first must wend its way through a thicket of unclear and sometimes apparently contradictory requirements....more

SEC Advisory Committee Meeting on Small and Emerging Companies

On September 13, 2017, the SEC Advisory Committee on Small and Emerging Companies held an open meeting to discuss the Sarbanes-Oxley (“SOX”) auditor attestation requirement, the final report that will be issued prior to the...more

Senator Warren’s Numbers Don’t Add Up

by Ballard Spahr LLP on

In a press release issued earlier this week, Senator Elizabeth Warren argued that the CFPB’s arbitration rule should not be repealed under the Congressional Review Act because consumers recovered “in only 9 percent of the...more

Orrick's Financial Industry Week In Review

CFPB Issues Final Rule Temporarily Raising Reporting Threshold for Home Equity Loans Under Home Mortgage Act Rules - On August 24, 2017, the Consumer Financial Protection Bureau (the "CFPB") issued a new rule that amends...more

UK Competition and Markets Authority Launches Investigation into Investment Consultancy and Fiduciary Management Services

by Reed Smith on

Following an initial investigation by the Financial Conduct Authority (FCA), the provision of investment consultancy and fiduciary management services will now be subject to an in-depth investigation by the UK competition...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The White House announced its intention yesterday to blocked a China-backed investor from buying American semiconductor maker Lattice over national security concerns. The “rare move” could “signal more aggressive scrutiny of...more

Africa Focus: Anticipated trends in project finance - The implications after South Africa's debt rating downgrade

by White & Case LLP on

While credit ratings are designed to assess the creditworthiness of country or corporation to inform the decisions of investors in these entities, the considerations of credit rating agencies may not always be fully aligned...more

Outsiders and Insiders Are Behind the Fintech Revolution

by Freeborn & Peters LLP on

“When’s the last time you were in a bank? Do you want to go to a bank?” This question was posed by George Vukotich, co-founder of FinTank, a fintech-focused organization that serves Chicago’s technology and start-up...more

401(k)/403(b) Loan Borrowers – Check Your Paystubs!

by Foley & Lardner LLP on

A recent tax court case, Louelia Salomon Frias, v. Commissioner, TC Memo 2017-139, illustrates why it is good practice to verify that employee loan repayments have been timely deducted. Plan Loan Requirements. An employer...more

Retirement Plan and Leave Donation Programs During States of Emergencies

by Carlton Fields on

This article should interest employers offering retirement plan benefits or leave donation programs to employees affected by Hurricanes Harvey and Irma, in particular, and in various states of emergencies, in general. It...more

Finding the Unicorn in Lender Liability Litigation

by Bryan Cave on

Investors frequently talk in terms of trying to find the next unicorn, that small start-up company that is going to turn into a billion dollar valuation. Lawyers are like that as well, always looking for that new decision...more

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