News & Analysis as of

Banking Sector Russia

A&O Shearman

Arbitration clause triumphs over Russian court proceedings

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In the latest anti-suit case relating to Russia, the English High Court has made permanent an anti-suit injunction (ASI) and anti-enforcement injunction (AEI) preventing a Russian bank from pursuing litigation in Russia in...more

American Conference Institute (ACI)

[Event] 23rd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 5th - 6th, Toronto, Ontario, Canada

Hosted by the Canadian Institute, the 23rd Annual Canadian Forum on Anti-Money Laundering and Financial Crime returns for another exciting year. The event features carefully curated programming providing practical guidance...more

Dorsey & Whitney LLP

Biden Administration Adds Sanctions Against Foreign Financial Institutions Supporting Russia’s Military-Industrial Base

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As the February 2022 Russian invasion of neighboring Ukraine approaches its second anniversary and as Russia has increasingly turned to covert relationships with third country providers to avoid U.S., European Union and other...more

Sheppard Mullin Richter & Hampton LLP

New Russia Sanctions Intensify Pressure on Banks Worldwide

On December 22, 2023, President Biden signed a new Executive Order (E.O. 14114) containing the latest round of sanctions against the Russian Federation. Shortly thereafter, Treasury Secretary Janet Yellen stated that the...more

Akin Gump Strauss Hauer & Feld LLP

New EU & UK Sanctions

EU’s 12th Sanctions Package - On 19 December 2023, the Council of the European Union (EU) together with the Commission published its 12th round of sanctions....more

American Conference Institute (ACI)

[Event] New York Forum on Economic Sanctions - December 13th - 14th, New York, NY

Back by popular demand, ACI’s acclaimed 13th Annual New York Forum on Economic Sanctions returns to NYC this December. Regarded as the must attend conference for legal and compliance professionals working for financial...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - October 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

White & Case LLP

Reverberations from the falling dominos of SVB, Signature and Silvergate are felt on European shores

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UK & European Financial Services M&A: Sector trends H2 2022 | H1 2023 — Banks - Top 3 drivers of UK and European bank M&A in the past 12 months: - Regional & domestic consolidation across Europe: >50 domestic bank...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, V 4, Issue 1, June 2023

CFPB - Regulators Take Aim at AI to Protect Consumers and Workers - “In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automated systems that resulted in wrongful home...more

WilmerHale

Enhanced Global Russian Sanctions and Export Controls to Counter Circumvention

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On May 19, in response to Russia’s ongoing invasion of Ukraine, the United States, in coordination with allies and partners, announced new sanctions restrictions and export controls targeting Russia’s evasion networks,...more

White & Case LLP

Overview of Switzerland’s 10th sanctions package in relation to Russia

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On 29 March and 20 April 2023, Switzerland adopted new measures against Russia, following those recently adopted by the EU as part of a tenth sanction package. More industrial, high-tech and aviation goods are now banned for...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions arms facilitator for attempted deals between North Korea and Russia

On March 30, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions, pursuant to Executive Order 13551, against a Slovakian national for attempting to facilitate arms deals between Russia...more

ArentFox Schiff

What You Need to Know about the New Russia/Belarus Sanctions, Export Controls, Tariffs & Duties

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On Friday, February 24, the one-year anniversary of Russia’s further invasion into Ukraine, President Biden, the Office of Foreign Assets Control (OFAC), the US Department of State, and the US Department of Commerce, Bureau...more

Bass, Berry & Sims PLC

International Trade Enforcement Roundup – January 2023

Russia - Former Special Agent in Charge of the FBI New York Counterintelligence Division Charged with Violating U.S. Sanctions on Russia (DOJ) Those involved. Charles McGonigal, former Special Agent in Charge of the FBI...more

Kohn, Kohn & Colapinto LLP

Danske Bank Scandal Proves Need for AML Whistleblower Law

Nearly 10 years after former employee Howard Wilkinson blew the whistle on Danske Bank, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have issued over $2 billion in penalties against the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

BCLP

Banking Bites - November 2022

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Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more

White & Case LLP

Kazakhstan has reformed the financial sector regulation: what do we need to know?

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Legislative regulation of the financial market in Kazakhstan needs to be modernized to remain efficient and competitive. Therefore, on 12 July 2022, the President of the Republic of Kazakhstan signed the Law providing for...more

A&O Shearman

Sanctions Round Up: Second Quarter 2022

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With the war in Ukraine raging on, the U.S. continued to escalate its sanctions response against Russia. The U.S. announced extensive trade and investment bans that prohibit U.S. persons from making any “new investment” in...more

Sunstein LLP

Protecting IP in the Face of Russia Sanctions

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The US Treasury Department’s Office of Foreign Asset Control (OFAC) has issued two general licenses relevant to intellectual property matters authorizing transactions that would otherwise be prohibited by the sanctions...more

BCLP

Banking Bites - July 2022

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Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market. This edition covers...more

Morgan Lewis

Update: Russian Borrowers Must Repay Russian Syndicate Members Directly; Widespread Defaults Anticipated

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A new statement from the Russian Ministry of Finance requires Russian borrowers to repay debt owed to Russian lenders participating in international syndicates directly (bypassing mechanisms established by the relevant loan...more

BCLP

Banking Bites - May 2022

BCLP on

Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market....more

Wiley Rein LLP

New U.S. Sanctions and Export Restrictions Target Professional Services and Russia’s Media, Banking, Defense, and Industrial...

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On May 8 and 9, 2022, the Biden Administration imposed new Russia-related sanctions and export restrictions, including a prohibition on the provision of certain professional services to any person located in Russia, sanctions...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2022

FDIC Directs Banks to Provide Notice Before Engaging in Crypto-related Activities According to guidance recently issued by the FDIC, banks that it supervises and that intend to engage in, or are already engaged in, activities...more

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