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Legislature (Re)Enacts A Maximum De Minimis Finance Lenders Law Exemption

The California Finance Lenders Law defines a “finance lender” as anyone that is engaged in the business of making consumer loans or making commercial loans. Cal. Fin. Code § 22009. Knowing the definition of “finance lender”...more

Remember Europe? Harshing My Mellow

Maybe it’s because I have been in Europe this past week (Munich at Octoberfest actually – Men in way-too-short leather shorts, dirndls, beer steins the size of a politician’s ego, the most astonishing amount of drinking, etc....more

EB-5 Will Likely Be Extended as Part of Continuing Resolution Through December 9, 2016

On September 23, 2016, a draft of the Continuing Resolution (CR) began circulating in Washington, DC. The CR, which Congress will likely pass early next week, will keep the federal government running through the November...more

Industry Posts Statement For The Record Ahead Of Big Subcommittee Hearing On “Modernizing” The TCPA

Every day is a big day in TCPA land. Tomorrow is the big hearing entitled, “Modernizing the Telephone Consumer Protection Act” in which the House Communications and Technology Subcommittee, chaired by Rep. Greg Walden...more

Federal and State Authorities Take First Steps Toward Regulating Blockchain, Mobile Banking and Digital Financial Services

Last week, federal and state lawmakers took significant steps toward specific regulations targeting digital financial technology, mobile banking and cybersecurity, signaling the possibility of wholesale changes to the legal...more

The Potential Effect of Brexit on UK Environmental Law

The majority of modern environmental legislation in the UK is derived from EU law, either from directives that have been implemented by UK domestic legislation or from regulations that apply directly in EU member states such...more

European Parliament Votes to Object to PRIIPs Implementing Legislation

The European Parliament voted to object to draft regulatory technical standards (“RTS”) implementing the Packaged Retail and Insurance Investment Products (PRIIPs) Regulation (the “Regulation”) on 14 September 2016. The draft...more

President Obama Pledges to Lift Myanmar Sanctions

On September 14, 2016, President Obama met with Myanmar’s leader, State Counsellor Daw Aung Suu Kyi, at the White House and announced the United States’ intent to remove economic sanctions against Myanmar (formerly known as...more

G20 Leaders Publish Communiqué

The G20 Leaders published the Communiqué from the Hangzhou Summit. The G20 Leaders reiterated their commitment to finalizing the remaining elements of the financial sector reform agenda, including, for example, finalization...more

Brexit: A Financial Free Zone Within the City

The UK Government recently indicated that it intends to negotiate a unique EU-UK relationship post-Brexit. It is hoped that the arrangements will be appropriate for the UK and London’s position as a leading international...more

Financial Stability Board Reports on Implementation of Over-the-Counter Derivatives Reforms 

The Financial Stability Board published its eleventh progress report on the implementation of reforms by standard-setting bodies, national and regional authorities and market participants to the over-the-counter derivatives...more

Basel Committee on Banking Supervision Progress Report on Basel III Implementation

The Basel Committee on Banking Supervision published a report to the G20 leaders, providing an update on implementation of the Basel III regulatory reforms since the Basel Committee’s last progress report in November 2015....more

2017 OCC Bank Supervision Plan, House Committee Passes Dodd-Frank Reform

OCC Releases 2017 Bank Supervision Plan - The OCC’s Committee on Bank Supervision (CBS) yesterday published its Fiscal Year 2017 Bank Supervision Operating Plan and announced the following five oversight objectives...more

China Policy for Lender Liability in Green Finance Guidelines

In April 2015, the Final Report of the People’s Bank of China’s Green Finance Task Force made 14 recommendations to facilitate the establishment of China’s green finance system. Recommendation 13 proposed the imposition of...more

Bi-partisan Congressmen seek arbitration safe harbor allowing class action waivers

Republican Congressman Randy Neugebauer, who chairs the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit, and Democratic Congressman W. Lacy Clay, the Subcommittee’s Ranking...more

Legislation Establishes New Reporting Requirements for State and Local Debt Obligations

Annual Reports Filed with the California Debt and Investment Advisory Commission Must Include Additional Information - State and local agencies that issue debt must now file new specified information in the annual...more

House Committee approves Dodd-Frank replacement bill

By a vote of 30-26 earlier this week, the House Financial Services Committee approved the “The Financial CHOICE Act of 2016” (H.R. 5983), the bill released in July 2016 by Committee Chairman Jeb Hensarling to replace the...more

Japan steps into Brexit debate with a message to the UK and the EU

The Japanese government has stepped into the Brexit debate with an unprecedented warning to the EU and the UK, saying that Japanese inbound investment into the UK could be put at risk by Brexit particularly if withdrawal...more

Investment Funds Update - Europe - Legal and regulatory updates for the funds industry from the key asset management centres and...

FCA Chief Executive Comments on FCA Mission and Brexit - The FCA has published a speech by Andrew Bailey, FCA Chief Executive, at the FCA's 2016 annual public meeting on 19 July 2016. Mr Bailey stated that the FCA...more

Senators Urge President Obama To Raise Cybersecurity During G20 Summit

In advance of the 2016 Group of 20 (“G20”) Summit, which convened in Hangzhou, China, on September 4 and 5, several Democratic Senators sent a letter to President Obama urging him to make cybersecurity a priority. The...more

U.S. House of Representatives Pass the Accelerating Access to Capital Act

Earlier today, the U.S. House of Representatives passed the Accelerating Access to Capital Act aimed at facilitating the formation of capital for U.S. small businesses. The measure is a package of three bills: H.R. 4850 –...more

ManattJones Global Strategies - September 2016

CEO’s Executive Summary: We have an unusually long update this month, given many developments in August and this morning’s cabinet reshuffle announced by the President. On September 7 President Peña Nieto reshuffled the...more

Argentina’s New Leadership and How it Affects Insurance

Following last year’s elections, the political and economic landscape is changing in Argentina. Where new economic opportunities arise, (re)insurance follows. Along with new demand for commercial insurance products, the legal...more

Director Cordray Responds To Letter from Senators Seeking Tailored Rulemaking for Community Banks and Credit Unions

Last month, a bipartisan group of 70 senators were signatories to a letter sent to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray urging the CFPB to “carefully tailor its regulations to match the unique...more

Why Congress Should Act Quickly To Reauthorize SBIR, STTR

Despite bipartisan efforts, the future is uncertain for the by all accounts highly successful Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) programs. Authorization for the current...more

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