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TRIA Extension Fails: An Initial Guide to Next Steps

To the surprise of many, Congress failed to extend the Terrorism Risk Insurance Act of 2002 ("TRIA"), which is set to expire at the end of this year. Many hope that TRIA in some form will be re-authorized early in 2015 and,...more

U.S. Government Resets Cuban Policy and Eases Sanctions Against Cuba

Yesterday, President Obama announced that the United States and Cuba will begin talks to resume full diplomatic relations and partially lift travel and economic sanctions and restrictions, some of which have existed for more...more

President Signs Russia Sanctions Law But Does Not Intend To Impose New Sanctions At This Time

On December 18, 2014, President Obama signed into law the Ukraine Freedom Support Act of 2014 (the “Act”), authorizing sanctions related to Russia’s defense, energy, and financial sectors. The Act is the latest in US...more

One Step Closer to Normalizing Relations with Cuba

Today, in response to Cuba’s release of American prisoner Alan Gross, President Obama announced that his administration will begin taking steps to normalizing relations with Cuba. While the Obama administration can ease the...more

Before Adjourning, US Congress Adopts Budget With Dodd-Frank Amendments; Fails To Pass Terrorism Risk Insurance Legislation

Before the 113th Congress adjourned on December 16, Congress adopted the Consolidated and Further Continuing Appropriations Act of 2015, which ensures the federal government operates with budget certainty until September...more

New Limits Expand Funding Pool For National Party Committees

Recently passed spending legislation dramatically increased the amount that individual donors may give to the National Party Committee accounts used to fund party conventions, construction and legal challenges. Specifically,...more

Cuba Revisited

On December 17 President Obama announced a plan to normalize relations with Cuba and open a US Embassy in Havana. The President also asked Congress to reconsider the trade embargo with Cuba which has been in place since...more

President Obama Announces Sweeping Changes to United States’ Diplomatic Relationship with Cuba

No changes in connection with the U.S. – Cuba embargo and sanctions will be effective until OFAC and the Commerce Department formally revise their respective regulations and general licenses to implement the President's new...more

President Signs Changes to Collins Amendment Favorable to Insurers

On December 18, President Obama signed into law the Insurance Capital Standards Clarification Act of 2014 (the Act). The Act makes it clear that the Board of Governors of the Federal Reserve (the Fed) is not required to apply...more

U.S. Announces Major Policy Shift on Cuba

On December 17, 2014, President Obama announced the beginning of major reforms regarding the relationship between the United States and Cuba. In a statement made from the White House, President Obama announced that the...more

Transatlantic Trade and Investment Partnership: Status and Financial Services Issues

On June 17, 2013, President Obama, European Council President Van Rompuy and European Commission President Barroso agreed to open negotiations on a Transatlantic Trade and Investment Partnership (TTIP) agreement. Since then,...more

U.S. Embargo Against Cuba: Historic Changes Ahead

On December 17, 2014, President Barack Obama announced sweeping changes in the diplomatic and trade relationships between the United States and Cuba. These changes, outlined below, will require time to implement; certain...more

President Obama’s Announcement on U.S.-Cuban Relations Could Create Strategic Opportunities for American Companies

On December 17, 2014, the United States announced its intention to normalize diplomatic relations with Cuba. President Obama stated that, after nearly 54 years of economic and political isolation, his administration will be...more

New Channels of Economic Opportunity to Follow U.S.-Cuba Policy Changes

On December 17, President Obama announced sweeping changes to U.S.–Cuba policies that will usher in a new era in bilateral relations between the two countries. In the coming months, the United States will move to re-establish...more

"Congress Lessens Impact of Swaps Push-Out Rule"

On December 16, 2014, President Barack Obama signed into law a bill that lessens the impact of Section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, more commonly known as the “Swaps Push-Out...more

A New U.S. Course for Cuba Relations: What Does It Mean for Business?

President Obama made an unexpected announcement this week signaling a “new course” for Cuba after more than fifty years of comprehensive U.S. sanctions. Reestablishing diplomatic relations is a major change. In terms of...more

US and Cuba Seek to Normalize Relations; US to Ease Certain Restrictions

President Obama announced on December 17, 2014 that the United States and Cuba will open talks seeking to restore full diplomatic relations, and that the United States will be taking a number of steps to ease restrictions in...more

Congress passes tax extenders – through the end of 2014: potential impact on tax reform

In the final act of the 113th Congress, the Senate passed and sent to President Barack Obama for his signature the Tax Increase Prevention Act of 2014, extending through the end of 2014 numerous familiar deduction and credit...more

US Announces Liberalization of Cuba Sanctions Policy

On December 17, 2014, President Obama announced the relaxation of certain aspects of the comprehensive trade embargo against Cuba that the United States has maintained since the early 1960s. As set forth by the White House,...more

A New Latitude: Charting a Course for Cuba

Today President Barack Obama made a stunning speech announcing steps the United States will take to reduce U.S. sanctions against Cuba. The announcement followed the release of two U.S. citizens held by the Cuban government....more

New Law Significantly Expands Legal Basis for US Sanctions Against Russia

On 16 December 2014, President Obama announced that he will sign the Ukraine Freedom Support Act of 2014 (hereinafter the “Act”) into law. As discussed in our update dated 12 December 2014, the Act represents a potentially...more

Top 10 Things to Know About President Obama’s Cuba-Related Announcement

While signalling a dramatic shift in the US-Cuba relationship, the President’s authority to lift sanctions is limited in several key respects. On December 17, 2014, President Obama announced that the United States will...more

Securities Regulation Legislation in the Coming 114th Congress

If the current 113th Congress is any measure, we can expect the coming 114th Congress to introduce and promote bills seeking, among other matters, to facilitate capital formation, to correct oversights in the original JOBS...more

U.S. Congress Passes Russia Sanctions Legislation

On Saturday, the U.S. Congress passed the Ukraine Freedom Support Act of 2014 (H.R. 5859), which, once signed by the president, will impose or authorize broad sanctions on Russia’s energy and defense sectors and increase...more

Administrative Changes Will Create Opportunities for Startups

As we recently reported, on November 20, 2014, the President announced a series of executive actions broadly covering immigration law. One such action relates to the implementation of a parole system for inventors,...more

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