AML BSA and Sanctions Compliance I of II June 10 2014
Bingham McCutchen Reaches Out For BigLaw Merger Partners
OFCCPs New Veteran/Disability Regulations Are Now in Effect. Are You Ready?
The Deal Video: Pepper Hamilton's Ed Dartley Talks Valuations
The Community Reinvestment Act (CRA): Recap and What to Expect in 2014
Polsinelli Podcast - The State of Bank Deals in 2014
Lamson Comments on Volcker Rule
What Are the Drastic Ramifications of the New York State Anti-Money Laundering Actions and Penalty Enforcement?
Rice: Banking Lobby Won't Let New Glass-Steagall Bill Pass
S&C's Cohen: Brown-Vitter Punishes Banks For Being Big
The Financial Conduct Authority has published a document setting out a list of points for financial services firms to consider when preparing for and evaluating third-party technology banking solutions.
In the context of Federal Deposit Insurance Corporation (FDIC) litigation against the former directors and officers of a failed bank, the Georgia Supreme Court has upheld the validity of the business judgment rule in the...more
The EU’s “Stage 3” sanctions restrict exports to the Russian military, exports of certain technologies for the oil industry, and certain Russian State-owned banks’ access to EU capital markets.
New EU Measures Target...more
Welcome to the July 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month on the anticorruption front, two Noble Corporation executives settle with the U.S. Securities and Exchange...more
This September, New York’s highest court will consider an issue of significant interest to international banks with a New York presence – whether a judgment creditor can use New York’s judgment enforcement procedures to...more
Consider the following hypothetical scenario (and a typical scam involving mobile check deposits) in which an employer (the “Company”) issues a paper check to one of its employees (the “Employee”). The Employee remotely...more
On July 22, the U.S. Bankruptcy Court for the Southern District of New York rejected a bank’s motion to dismiss a putative class action adversary proceeding alleging that certain of the bank’s credit reporting practices...more
Consolidation of cases in federal courts can take many forms. Sometimes cases are consolidated for all purposes. Sometimes, they are consolidated only for limited purposes of discovery or pretrial proceedings. A case in which...more
On July 24, the OFAC released a settlement agreement with a large bank to resolve apparent violations of narcotics sanctions regulations. The settlement agreement states that during separate periods from September 2005...more
US extends sanctions to three Russian banks, a shipbuilding company and exports of energy sector items to Russia; EU announces similar measures.
Additional OFAC Designations -
On July 29, 2014, the U.S....more
Washington Supreme Court Rules That It Was Error To Delay Adjudication Of Insurer’s Duty To Defend, But Should Stay Discovery As To Insurer’s Coverage Defenses -
Why it matters:
The Washington Supreme Court...more
On July 23, the Council of the EU published a press release announcing that it had adopted the CSDR on improving securities settlement and regulating central securities depositories.
In Evans v. Bank of Nova Scotia, 2014 ONSC 2135, Justice Smith certified a class action for, among other claims, the tort of inclusion upon seclusion, against both the Bank of Nova Scotia (the “Bank”) and Richard Wilson. This...more
In this issue:
- Regulatory Capital
- Recovery & Resolution
- Bank Structure
- Financial Market Infrastructure
- Financial Services
Welcome to the 2014 Mid-Year Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. Its purpose is to provide a periodic survey, apart from our team Executive Alerts, on matters we...more
In This Issue:
- As FATCA Begins, IRS Rolls out Withholding Forms, Increases IGA Count
- IRS Issues Final Circular 230 Rules Simplifying Written Tax Advice Requirements
- Mortgage CCA Raises More...more
The FDIC issued guidance (the “Guidance”; FIL-40-2014) to banks and savings associations that have elected S-corporation tax treatment (collectively, “S-corporation Banks” and each an “S-corporation Bank”) concerning the...more
LEGISLATIVE ACTIVITY -
GAO expected to release Report on Big Banks -
On Thursday, July 31, the Government Accountability Office (GAO) is expected to release a long awaited report on funding advantages of the...more
The Supreme Court had a busy term, particularly with regard to patent cases, and especially in an effort to provide much needed guidance to the divided U.S. Court of Appeals for the Federal Circuit. The Supreme Court granted...more
On July 14, a national bank, numerous related companies, and several of their third-party collection vendors agreed to pay $75 million to resolve class claims that the bank and other parties violated the TCPA by using an...more
On July 21, the FDIC clarified how it will evaluate requests by S-Corporation Banks to make dividend payments that would otherwise be prohibited under the Basel III capital conservation buffer. New Basel III capital rules...more
The Consumer Financial Protection Bureau (“CFPB”) has concluded its third year. Created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), the Bureau has taken significant steps to...more
New York Attorney General Eric T. Schneiderman recently announced an agreement with Capital One Financial Corporation that will require the bank to adopt new policies regarding the screening of consumers seeking to open...more
Discussion and Analysis -
Monday of this week was the fourth anniversary of the signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Like all anniversaries, it is a time for looking back. As would...more
On July 17, the FHFA Office of Inspector General (OIG) published a report on risks to Fannie Mae and Freddie Mac (the Enterprises) related to purchasing mortgages from smaller lenders and nonbank mortgage companies....more
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