Finance & Banking Updates

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Infrastructure M&A: Journey to the non-core: How the European infrastructure M&A market is changing

HEADLINES - - Overall appetite for infrastructure investment remains strong. M&A deal value rose 75 per cent from 2010 and 2016. Deal volume grew 196 per cent over this period - The number and value of...more

European Central Bank Launches Sensitivity Analysis on Effects of Interest Rate Changes

The European Central Bank launched a sensitivity analysis of the banking books of directly supervised banks with a focus on interest rate changes. The analysis will be used to inform the ECB’s annual Supervisory Review and...more

Updates on Public Company GMS and shareholders reporting

On March 14, 2017, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or "OJK") issued two regulations impacting voting rights at a General Meeting of Shareholders of Public Companies ("GMS") and transparency...more

DOL Announces Temporary No Enforcement Policy of Fiduciary Rule

Earlier this month, the Department of Labor (DOL) proposed a 60-day delay of the April 10, 2017 effective date of its (much debated) fiduciary rule. The fiduciary rule – a vestige of the Obama Administration – was thought to...more

Your Daily Dose of Financial News

Uber’s board is sticking with the devil it knows. And that means that CEO Travis Kalanick’s safe where he is, despite a few pretty awful months for the ride-hailing company and promises to change the company culture....more

SEC Proposes Amendments to Rule 15c2-12 to Expand Municipal Securities Disclosures

On March 1, 2017, the Securities and Exchange Commission (SEC) published for comment proposed amendments to Rule 15c2-12 under the Securities Exchange Act of 1934 (Exchange Act) that would expand the list of events triggering...more

Non-Use Agreement Need Not Precede Disclosure of Confidential Information

A Pennsylvania federal court held yesterday that an agreement not to use confidential inside information for trading purposes need not precede the receipt of that information in order to create liability under the...more

Courts Continue Trend of Recognizing Tribal Immunity in Bankruptcy Proceedings

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware (Court) issued a decision on Feb. 28, 2017, that has important – and positive – significance for Native American tribal governments, their...more

New York Regulations Heighten Need for Due Diligence and Cyber Insurance Coverage

Cybersecurity rules from the New York Department of Financial Services (DFS) went into effect on March 1 and now banks and insurers are faced with an increasing level of potential legal exposure for data breaches. This...more

Friends and Family and Criminal Forfeiture

One of the many potential consequences of a criminal conviction is that the government may seize assets held by the defendant’s family to satisfy a criminal forfeiture order against the defendant himself. In United States v....more

SEC Proposes Significant Alterations for Financial Obligation Disclosures for Governmental Issuers and Certain Nonprofit...

The Securities and Exchange Commission (the "SEC") recently sent a clear message to participants in the municipal markets: it intends to require a greater level of disclosure, and more timely disclosure, regarding an...more

Commercial Court confirms that asymmetric jurisdiction clauses may be exclusive for the purposes of EU law

Asymmetric jurisdiction clauses - also known as one-sided or 'for the benefit' clauses - are common in international financial services agreements, but their validity under EU law has been questioned in recent years by the...more

Expect Focus - International, Spring, March 2017

Rules of the (International) Road - An Overview - Going international is a complicated undertaking. Your specific situation and concerns will determine the steps required. The following outlines, very generally,...more

Even a “Bona Fide Purchaser” Can’t Rely on a Void Judgment

Under California law, “bona fide purchasers” who buy property with no notice (actual, constructive, or otherwise) of a competing claim to the property are generally protected. The law’s favorable treatment of bona fide...more

European Banking Authority Proposals for Powers to Adopt Implementing Decisions

The European Banking Authority published an Opinion on improving the decision-making framework for supervisory reporting requirements under the Capital Requirements Regulation. The CRR imposes an obligation on the EBA to...more

Stemming Human Trafficking with AML/CFT Controls

Banks stand to advance the fight against human trafficking and modern slavery by reporting suspicious transactions and other financial activity that raise red flags, according to a report on March 15, 2017. Published by the...more

European Commission Confirms that the Imposition of Stricter Conditions for Banks Not Necessary Due to Market Developments

The European Commission published a report on market developments over the past year that would potentially have created the need for stricter requirements for the level of banks' own funds, large exposures and public...more

OCC Issues Additional Guidance for Evaluating FinTech Charter Applications

On March 15, the Office of the Comptroller of the Currency (OCC) provided additional detail on evaluating national bank charter applications from financial technology (FinTech) companies that engage in the business of...more

OCC Issues Additional Guidance for Evaluating FinTech Charter Applications

On March 15, the Office of the Comptroller of the Currency (OCC) provided additional detail on evaluating national bank charter applications from financial technology (FinTech) companies that engage in the business of...more

Final EU Guidelines on Liquidity Coverage Ratio Disclosure Published

The European Banking Authority published final Guidelines on liquidity coverage ratio disclosure to complement the disclosure requirements of liquidity risk management under the Capital Requirements Regulation. The CRR...more

Judicial Foreclosure Sales are Immune to Preference Challenges

The Bankruptcy Court for the Western District of Pennsylvania has recently held that a pre-petition foreclosure of a debtor’s real property, conducted in accordance with state law, is not subject to attack as a preference...more

Are the Assets in Custody?

Lenders to funds and other borrowers often extend credit based on a security interest over assets that are held in custody. The lender is granted a security interest in the relevant custody account and all of the cash,...more

Public-Private Partnerships in Puerto Rico - DLA Piper's handbook

Historically, there has been vigorous debate among the residents of Puerto Rico for and against the privatization of public property and public services. The public-private partnership (P3 or P3s) model established by the...more

Court Finds CFPB Case Against Payment Processor Lacking

On March 17, 2017 the United States District Court for the District of North Dakota granted the motion of Intercept Corporation (“Intercept”) and its senior executives to dismiss the complaint filed almost a year ago by the...more

Market Solutions, Volume 26, No. 1

Sanctions: Will the Trump Administration Stay the Course? President Trump made many statements during the campaign regarding actions he plans to take to reverse Obama administration sanctions policies. These included...more

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