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Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Financial Regulators Take Note: The Supreme Court’s Newest Member is a Tough Taskmaster

On April 10, 2017, Neil Gorsuch was sworn in as the Supreme Court’s 113th justice. While his experience on the Tenth Circuit Court of Appeals with cases involving financial regulation may be limited, certain of his decisions...more

Fed Assesses First Penalty for Volcker Rule Violation

The Board of Governors of the Federal Reserve System has assessed its first penalty for violation of the Volcker Rule against Deutsche Bank AG. The Volker Rule required Deutsche Bank’s Chief Executive Officer to annually...more

2016 Could Be Peak SEC

2016 was a high-water mark for SEC enforcement activity; however, with the uncertainties associated with the new administration’s enforcement regime, we could be seeing a downturn going forward. According to a recent report...more

Colorado Proposes Cybersecurity Rules for Investment Advisers, Broker-Dealers

by Ballard Spahr LLP on

The Colorado Division of Securities recently issued proposed rules directed at establishing cybersecurity requirements for broker-dealers and investment advisers. The proposed rules were issued only a month after New York...more

The Impact of Tax Reform on Private Equity

If the past 12 months have taught us anything, it’s that the future is hard to predict. One need only look at the ascendancy of Brexit, President Donald Trump, or even the New England Patriots in the second half of the Super...more

Colorado Proposes New Cybersecurity Rules For Financial Advisers

by Dentons on

Earlier this month, the Colorado Division of Securities released a set of proposed changes to the Colorado securities laws that would, if adopted, impose strict cybersecurity requirements on investment advisers and...more

The International Comparative Legal Guide to: Lending & Secured Finance 2017

by K&L Gates LLP on

Innovations in financial technology (“fintech”) are transforming the provision of financial services to consumers and small businesses in ways that are at once profound and mundane. The nascent online lending – or...more

FINRA's Newest One-Two Punch

by Reminger Co., LPA on

On February 3, 2017, the SEC approved: (1) new FINRA Rule 2165 (Financial Exploitation of Specified Adults[1]) permitting members to place temporary holds on certain customer accounts where there is a reasonable belief of...more

MMT finds against SFC in insider dealing case

by Hogan Lovells on

In another decision against the SFC, the Market Misconduct Tribunal ("MMT") has found Mr Cheng Chak Ngok ("Mr Cheng"), former executive director, chief financial officer and company secretary of ENN Energy Holdings Limited,...more

Blog: It’s baaaack — the Financial CHOICE Act of 2017

by Cooley LLP on

A draft of the Financial CHOICE Act of 2017 (fka version 2.0), a bill to create hope and opportunity for investors, consumers, and entrepreneurs — a masterpiece of acronyming — has just been released (and weighs in at 593...more

CFPB Director Cordray Testifies Before House Financial Services Committee

by Goodwin on

On April 5, 2017, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the U.S. House of Representatives Financial Services Committee to present the CFPB’s semi-annual report, which is...more

Who Does What: Broker Dealers | Registered Investment Advisers | Commodities/Futures Entities

by Fox Rothschild LLP on

At Fox Rothschild LLP, we have a wealth of experience in creating and forming broker-dealers, registered investment advisers, commodity entities and various hedge funds. Over the years, our strategy has been to work with our...more

Canadian Regulators Propose Broad Derivatives Dealer and Adviser Business Conduct Rules

On April 4, 2017, the Canadian Securities Administrators (CSA) published for comment Proposed National Instrument 93-101 – Derivatives: Business Conduct (Business Conduct Rule), which would impose a range of business conduct...more

Governance & Securities Law Focus: Europe Edition - April 2017

by Shearman & Sterling LLP on

In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates. Please see full Newsletter below for more...more

Corporate and Financial Weekly Digest - Volume XII, Issue 15

CFTC - CFTC Extends Previously Granted No-Action Relief for Swap Dealers Complying With EU Requirements - On April 18, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight...more

Planning ahead: the FCA's 2017/18 Business Plan priorities and strategic framework

by Hogan Lovells on

The FCA's latest Business Plan demonstrates a commitment to pushing forward on both existing and new initiatives across sectors, focused on maintaining fair consumer outcomes in the rapidly changing UK financial services...more

Trump Prevents FSOC Designations and Bank Liquidations

In a Presidential Memorandum, President Trump directed the Secretary of the Treasury, as a member of the Financial Stability Oversight Council, not to cast a nonemergency vote to subject nonbank financial companies to...more

FINRA Solicits Comments on Rules Impacting Capital Formation and Proposed Changes to the Corporate Financing Rule

In what seems to be a bow to the Trump Administration, FINRA has issued Regulatory Notice 17-14 which broadly seeks comments on FINRA rules that impact capital formation. ...more

Meet HAL, Your New Robo-Adviser: SEC Regulatory Guidance For Robo-Advisers

by Polsinelli on

“Hello, Dave. You're looking well today.” In the iconic science fiction movie, 2001: A Space Odyssey, the HAL 9000 computer courteously greeted his astronaut human companion Dave Bowman. HAL was a Heuristically...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - SEC Publishes Compliance and Disclosure Guidance for Regulation Crowdfunding - On April 5, 2017, the Division of Corporation Finance of the Securities and Exchange Commission...more

Changing the Game, Again: Supreme Court Could Limit SEC’s Authority to Seek Disgorgement

This week, the Supreme Court heard argument regarding whether the SEC’s actions to disgorge ill-gotten gains are subject to a five-year statute of limitations for “any civil fine, penalty, or forfeiture.”...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

New FCC Chair Ajit Pai is wasting little time in reversing Obama-era regulatory efforts meant to restrict media firms and telecomm companies, and he’s got his sights set on net neutrality next....more

The Official Delay of the Fiduciary Rule: A Compromise

by Snell & Wilmer on

On April 7, 2017, the DOL published a final rule, officially delaying the applicability of the Fiduciary Rule for 60 days, until June 9, 2017....more

Clarifying and Simplifying the Corporate Financing Rule: FINRA Seeks Comment on Proposed Amendments to Rule 5110

by Locke Lord LLP on

On April 12, 2017, the Financial Regulatory Industry Authority (“FINRA”) released a regulatory notice requesting comments on proposed amendments to FINRA Rule 5110 (commonly referred to as the Corporate Financing Rule, the...more

Is the EU shifting the goal posts? European regulator plans review aimed at UK firms using outsourcing structures to respond to...

by Hogan Lovells on

In a speech that was ostensibly on the progress of the Capital Markets Union, Steven Maijoor, the Chair of the European Securities and Markets Authority ("ESMA") announced, that ESMA is planning possible measures to avoid a...more

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