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Legislation Relating to Capital Formation

As the 115th United States Congress is currently in session, a number of bills designed to promote capital raising for companies have been introduced in both the House and the Senate. In the last two months, both the House...more

Senators Request GAO Review of CFIUS Oversight of Foreign Investment in U.S. Real Estate

by Davis Wright Tremaine LLP on

Three senators – Senate Banking Committee Ranking Member Sherrod Brown, Sen. Ron Wyden, ranking member on the Senate Finance Committee, and Sen. Claire McCaskill, ranking member on the Homeland Security and Government Affairs...more

China opens up the securities investment fund management industry: the first in a journey of ten thousand steps?

by Hogan Lovells on

On 30 June 2016, the industry self-regulating body, the Asset Management Association of China published what, on the face of it, appeared to be a fairly innocuous document entitled Questions and Answers regarding the...more

Applying Overpayments of Tax to Tax and the Offshore Penalty in the OVDP Program

by Charles (Chuck) Rubin on

The OVDP program allows taxpayers to remedy deficient disclosure filings relating to offshore accounts for a fixed penalty amount. As part of the program, taxpayers must file either original or amended tax returns which...more

Proposed EMIR II – Key Points for Derivatives Markets Participants

by Morrison & Foerster LLP on

On 4th May 2017, the European Commission announced its proposals to amend the current European Market Infrastructure Regulation (Reg. No. 648/2012) (“EMIR”). The proposals stem from its public consultation and Call for...more

Russian Legislation Update: May 2017

by White & Case LLP on

Welcome to the most recent issue of our Russian Legislation Update, covering the period of May 2017. In this issue: - Banking - Corporate...more

Securities Financing Transactions Regulation—Update

Regulation (EU) 2015/2365, the Securities Financing Transactions Regulation (SFTR), imposes a number of requirements on EU fund managers (see the previous Akin Gump client alert on SFTR, The New Securities Financing...more

Joint Money Laundering Steering Group Consults on Proposed Revisions to Part II and III of the UK Financial Services Guidance

by Shearman & Sterling LLP on

The Joint Money Laundering Steering Group has published and opened up for consultation its proposed revisions to Parts II and III of its Guidance on the prevention of money laundering and the financing of terrorism for the UK...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Changes Proposed to CAS and STACR Programs - On May 8, 2017, Fannie Mae and Freddie Mac announced that they are considering certain changes to the structure of their CAS and STACR...more

Individual Accountability in AML Cases

by Ballard Spahr LLP on

This post discusses individual liability in AML/BSA enforcement, which is an area of increasing attention. Indeed, according to public statements by the government, individual liability is the focus of enhanced scrutiny...more

This Week in FCPA-Episode 53, the I left my heart in San Francisco edition [Video]

by Thomas Fox on

This week, Jay and I have a wide-ranging discussion on some of the week’s top compliance related stories. We discuss: 1. Brazilian President Temer comes under corruption fire? 2. The turmoil at FIFA continues as FIFA’s...more

BBA Brexit Quick Brief on UK WTO Profile and FTAS

On May 10, 2017, the British Bankers’ Association (BBA) published a Brexit quick brief: “External trade policy and a UK exit from the EU – the UK’s WTO profile and beyond”. The UK’s decision to leave the EU means that...more

Financial Conduct Authority Publishes Policy Statement on Whistleblowing in UK Branches of Foreign Banks

by Shearman & Sterling LLP on

The Financial Conduct Authority has published a Policy Statement introducing final rules on whistleblowing requirements for UK branches of overseas (EEA and third country) banks...more

UK Investment Managers: Any Reason to be Frightened by Brexit?

by Dechert LLP on

The UK investment management industry is, from a variety of perspectives, an important industry. With the Brexit clock now ticking, is there huge uncertainty ahead or is the industry largely secure? Can investment managers...more

Doing Business in Saudi Arabia 101: Investing in the Kingdom

by Dechert LLP on

President Donald Trump will be making his first official overseas trip as president to the Kingdom of Saudi Arabia, commencing May 20, 2017. During the course of the president’s trip, over US$100 billion worth of...more

ManattJones Global Strategies - May 2017

CEO Executive Summary: Early April felt almost normal. There was no blowup in U.S.-Mexico relations and the Mexican economy performed well. Then came President Trump’s renewed broadsides, insisting that Mexico will pay for...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The SEC hasn’t had much luck with its attempts so far to hold MBS traders responsible for allegedly lying to customers about MBS prices. Yet on the Monday’s charges against ex-Nomura traders suggests that the agency’s not...more

US Banks wanting to be ahead of the FATCA game must master international tax compliance

by Foodman CPAs & Advisors on

The terms FDAP (Fixed, Determinable Annual and Periodical Income) and ECI (Effectively Connected Income) are expansive terms. They are the backbone behind the tax withholding, and reporting requirements imposed on US Banks...more

The Summons

by Moskowitz LLP on

Coinbase is a San Francisco-based cryptocurrency exchange company that operates bitcoin and other digital asset transactions and storage for over one million users in 190 countries....more

EBA Final Guidelines on ICT Risk Assessment Under Supervisory Review and Evaluation Process

On May 11, 2017, the EBA published a report (EBA/GL/2017/05) containing its final guidelines on information and communication technology (“ICT“) risk assessment under the supervisory review and evaluation process (“SREP“)...more

Hong Kong: Financial Restructuring and Insolvency Update

by White & Case LLP on

The Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 (the "Amendment Ordinance") came into effect on 13 February 2017 seeking to revamp and modernize the winding-up regime in Hong Kong, but does...more

Mexican Agency Seeks Interested Parties for Backbone Network Project

by Holland & Knight LLP on

Telecomm, a Mexican government agency, issued an international Request for Expression of Interest (RFEI) on May 12, 2017, for parties seeking to participate in the Backbone Network Project (Red Troncal). Background -...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

An EU high court opinion yesterday about a trade deal with Singapore could throw yet another stumbling block in the way of Britain’s exit of the union. Read on for more on the intricacies of the EU division of competencies....more

Insolvency Law Reform in Germany

by Reed Smith on

The recent reform of insolvency law regarding challenges against creditors (based on the creditor’s presumed intent to agree to prejudice creditors) is the legislative response to the increasing amount of criticism in the...more

EBA Publishes Final Guidelines on Credit Insitutions’ Credit Risk Management Practices and Accounting for Expected Credit Losses

On May 12, 2017, the EBA published its final guidelines on credit institutions’ credit risk management practices and accounting for expected credit losses. The aim of the guidelines is to ensure sound credit risk management...more

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