State attorneys general (AG) are continuing their push for cannabis banking reform, underscoring the need for action to promote public health and safety in legal cannabis markets. On Wednesday, a bipartisan group of 22 state...more
I’m not proud of it, but I’m the resident cynic amongst the editorial staff here at Budding Trends when it comes to federal marijuana reform. And after all, someone has to temper the frivolous whims of others. But we’re...more
Cannabis: In Focus - Cannabis Banking Reform Possible During Lame-Duck Session - Nevada Court Removes Cannabis from State’s Controlled Substances List...more
On September 29, 2021, the House Judiciary Committee held a mark-up session of the Marijuana Opportunity Reinvestment and Expungement Act (MORE), which not only would de-classify cannabis as a Schedule I narcotic under the...more
The September 2021 issue of Sterne Kessler's MarkIt to Market® newsletter discusses a recent non-precedential Trademark Trial and Appeal Board decision regarding intent-to-use applications covering CBD products currently...more
A renewed effort to give the cannabis industry safe access to financial institutions and services returned to Washington last week, as the Secure and Fair Enforcement (SAFE) Banking Act was reintroduced in the U.S. House of...more
Harmonizing business laws, a revised foreign exchange regulation and introducing a new currency. Currency is a hot topic in West and Central Africa, in both the Economic and Monetary Community of Central Africa (EMCCA, or...more
Call for input: market players need to engage with the process for the procurement of the NPA - This Call for Input is part of the development of the Payment Systems Regulator’s (PSR) policy for the future regulation of...more
On January 30, 2020, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the Office of the Comptroller of the Currency (“OCC”), the Securities and Exchange...more
The Banking Reform Package marks a milestone in the new EU regulatory landscape. On 27 June 2019, a series of measures referred to as the Banking Reform Package comes into force, subject to various transitional and staged...more
The PSR is to consider whether there is effective competition in the market and makes clear that further reviews of the payments ecosystem could be triggered by its findings - The Payment Systems Regulator (PSR) has...more
Although South Africa has a relatively strong banking sector which is well regulated, numerous banks have failed in the last three decades. Recent failures have again brought the subject of deposit insurance into the...more
The Financial Crimes Enforcement Network (“FinCen”) issued a Marijuana Related Business update in June with data from the first quarter of 2017. FinCen reports that the number of depository institutions that are actively...more
Charting New and Dangerous Waters - Lloyd George and Epictetus may be long gone but their words have much resonance with the events of 2016. The political fallout from the UK’s vote to leave the European Union (“EU”)...more
The UK Payment Systems Regulator published a consultation paper and proposed guidance on the Financial Penalty Scheme that is applicable to penalty payment amounts retained by the PSR...more
On 23rd November 2016, the European Commission released a package of banking legislation reforms. Some of these were expected – in particular those related to the minimum requirement for eligible liabilities and own funds...more
HM Treasury published a consultation paper on rules for a financial market infrastructure special administration regime. A form of special administration for certain financial market infrastructure companies, excluding...more
2016 will mark the eighth anniversary of the collapse of Lehman Brothers and the raft of regulatory reforms introduced in the aftermath of that event and the wider financial crisis will continue to be implemented during the...more
Con il decreto legge 24 gennaio 2015 n. 3, entrato in vigore in data 25 gennaio 2015 (il "DL n. 3/2015"), sono state introdotte alcune disposizioni modificative della disciplina delle banche popolari contenuta nel decreto...more
It’s less than a year to go until the U.K. Senior Managers Regime (SMR) comes into effect (the official date is March 7, 2016). The regime, part of the Financial Services (Banking Reform) Act 2013, aims to counter the toxic...more
It has been three years since the Independent Commission on Banking (the “IBC”), chaired by Sir John Vickers, published its final report and recommendations on the reform of the UK banking system in response to lessons learnt...more
A federal judge recently dismissed a complaint brought by the New York Bankers Association (NYBA) seeking to invalidate the New York City Responsible Banking Act (the Responsible Banking Act). In New York Bankers Ass’n Inc....more
In response to a consultation by HM Treasury, the UK’s Financial Markets Law Committee (FMLC) published a letter on June 4 relating to the bail-in powers introduced by the Financial Services (Banking Reform) Act 2013. This...more