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Financial Stability Acts

White & Case LLP

New York’s Proposed “Sovereign Debt Stability Act”: An Overview

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Since 2021, the New York Legislature has considered a number of draft bills aimed at facilitating sovereign debt restructurings and helping distressed sovereign debtors obtain the debt relief they require. While the draft...more

Dechert LLP

European Commission Requests Changes to ELTIF 2.0 Draft Regulatory Technical Standards

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European Securities Market Authority (ESMA) submitted draft ELTIF 2.0 Regulatory Technical Standards (RTS) to the European Commission in December 2023. European Commission has informed ESMA it will only adopt the RTS once...more

BCLP

Joining the Dots - Will the UK’s New Critical Third Party Rules Truly Move the Dial for Financial Institutions?

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The announcement in 2021 of the intention to implement new rules directly targeting the types of tech service provider relied on by most financial institutions may be a necessary corrective given the heavy market...more

Mintz - Antitrust Viewpoints

The US Securities & Exchange Commission Targets AI on Multiple Fronts — AI: The Washington Report

Welcome to this week’s issue of AI: The Washington Report, a joint undertaking of Mintz and its government affairs affiliate, ML Strategies. The accelerating advances in artificial intelligence (“AI”) and the practical,...more

Mitchell, Williams, Selig, Gates & Woodyard,...

National Association of Insurance Commissioners (NAIC) 2023 Summer Meeting Summary

The Mitchell Williams Insurance Regulatory team of lawyers recently attended the National Association of Insurance Commissioners (NAIC) 2023 Summer National Meeting which was held in Seattle, Washington. We have prepared a...more

ArentFox Schiff

UK FCA: United Kingdom’s Recent Focus on Consumer Best Interests

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In a welcome change in approach to financial market regulation, the United Kingdom’s Financial Conduct Authority (FCA) is requiring market participants to deliver good outcomes for consumers. On July 27, 2022, the FCA...more

Foodman CPAs & Advisors

White House Follows Up With Digital Assets Priorities Identified In Executive Order

President Biden’s Executive Order (EO) on Ensuring Responsible Development of Digital Assets was signed on 3/9/22 acknowledging how the rise in digital assets creates an opportunity to reinforce the leadership of the U.S. in...more

Troutman Pepper

Financial Stability Board Issues Report Assessing Risks to Financial Stability From Crypto-Assets

Troutman Pepper on

On February 16, the Financial Stability Board issued an updated “Assessment of Risks to Financial Stability from Crypto-assets,” concluding that crypto-asset markets are fast evolving and could reach a point where they...more

White & Case LLP

The Commission adopts time-limited equivalence decision for UK CCPs: EU financial stability considerations for the supply of...

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On 21 September 2020, the European Commission adopted a time-limited equivalence decision for UK clearinghouses (also referred to as central counterparties ("CCPs")) in view of EU financial stability considerations, which...more

Skadden, Arps, Slate, Meagher & Flom LLP

COVID-19: Germany Update — Corporate Liquidity Issues in the Time of the Coronavirus Crisis

This article focuses on financing issues and opportunities for German companies during the coronavirus pandemic, specifically in respect of existing loans, new loans supported by KfW (the German state-owned development bank)...more

A&O Shearman

UK Financial Policy Committee Outlines Steps to Reduce Risks to the UK's Financial Stability

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The Bank of England has published a Financial Stability Report, dated June 2018, and a record of the Financial Policy Committee Meeting held on June 19, 2018. The Report sets out the FPC's view of the U.K.'s financial...more

BCLP

FRB Lifts Threshold for Financial Stability Review

BCLP on

In its March 2017 approval of People United Financial, Inc.’s merger with Suffolk Bancorp (the “Peoples United Order”), the Federal Reserve Board eased the approval criteria for certain smaller bank merger transactions by...more

Dechert LLP

Financial Stability Board Issues Activities-Based Recommendations for the Global Asset Management Industry

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The FSB continues to plan to revisit whether there are residual entity-specific sources of systemic risk that cannot be addressed effectively by market-wide activities-based policies that would support global systemically...more

Morrison & Foerster LLP

The Big Picture: EU's Financial Regulation Offensive

In the aftermath of the financial crisis, the national and international response by legislators and regulators has been to substantially overhaul and increase financial regulation applicable to banks and other financial...more

Morrison & Foerster LLP

The Federal Reserve’s Proposed Rules for Financial Contracts of Global Systemically Important Banking Organizations and ISDA’s...

Last month the Board of Governors of the Federal Reserve System (the “Board”) issued proposed new rules (the “Proposed Rules”) intended to reduce the potential risks posed to the U.S. financial system by too-big-to-fail...more

Morrison & Foerster LLP

The Metaphysics Of Systemic Risk

On April 18, 2016, the Financial Stability Oversight Council again warned that asset managers present systemic risk to financial stability in five key areas: ..liquidity and redemptions; ..leverage; ..operational...more

Dechert LLP

Asset Management Industry: Financial Stability Update, Fall 2015

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As U.S. and global regulators continue to evaluate the potential impact, if any, of the asset management industry and its products and activities on financial stability, the regulatory standards that will ultimately be...more

Orrick - Finance 20/20

CPMI and IOSCO Consult on Harmonizing Unique Transaction Identifier

Orrick - Finance 20/20 on

On August 19, 2015, the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) issued a consultative report on harmonization of the unique transaction...more

Dechert LLP

Financial Services Quarterly Report - Second Quarter 2015: U.S. FSOC and Global FSB Signal Continued Scrutiny of Financial...

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In recent months, both the U.S. Financial Stability Oversight Council (FSOC or Council) and the international Financial Stability Board (FSB) have taken actions signaling their continued interest in evaluating the potential...more

Morrison & Foerster LLP

Suspension of Contractual Rights of Counterparties to UK Banks

On 26 May 2015, the Prudential Regulation Authority (“PRA”) of the UK issued a consultation paper entitled “Contractual stays in financial contracts governed by third-country law”, proposing a new restriction that would apply...more

Dechert LLP

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

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ALFI Responds to ESMA's Discussion Paper on UCITS Share Classes - On 27 March 2015 ALFI submitted its response to the ESMA Discussion Paper on share classes of UCITS. Issues addressed in this paper relate to the...more

Bradley Arant Boult Cummings LLP

Senator Shelby Moves Forward with Major Dodd-Frank Reforms

On May 12, 2015, U.S. Senator Richard Shelby (R-Ala.), Chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, released the text of draft legislation intended to reform the regulatory framework...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Shadow Banking and Financial Stability: Regulators Propose Framework for Nonbank Noninsurers"

On March 4, 2015, the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO) issued a second consultation paper concerning the methodology they propose to use to identify nonbank...more

Stinson - Corporate & Securities Law Blog

OFR Annual Report Highlights Some Increasing Threats to Financial Stability

The Dodd-Frank Wall Street Reform and Consumer Protection Act established the Office of Financial Research, or OFR, within the Treasury Department to improve the quality of financial data available to policymakers and to...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

FSB Consults on Total Loss-Absorbing Capacity for G-SIBs - On November 10, the Financial Stability Board (FSB) published a consultation paper on proposals on the adequacy of total loss-absorbing capacity (TLAC) of...more

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