A Conversation with Rajiv Gupta on Asia Restructurings
What Are the Drastic Ramifications of the New York State Anti-Money Laundering Actions and Penalty Enforcement?
Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. ...more
The U.K. Prudential Regulation Authority is consulting on a proposed rule and policy changes relating to the establishment and maintenance of third-country branches and subsidiaries within ring-fenced banking groups. The...more
On August 29, 2023, the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (collectively, FBAs) issued requests for...more
This Article discusses the recent plea agreement between the United States and Danske Bank. It argues that the Department of Justice has advanced a new and evolving theory of liability for foreign banks that access the U.S....more
A deposited pledge is an arrangement enabling lenders to receive efficient, inexpensive, and readily available collateral from borrowers to secure credit. However, the current legislative arrangement in Israel differentiates...more
The Board of Governors of the Federal Reserve (the "Federal Reserve") has over several decades defined when an activity engaged in by foreign banks subject to the Bank Holding Company Act of 1956 (the "BHCA"), which are thus...more
The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC or the Treasury) unveiled a new wave of sanctions targeted against Russia, Russian entities, and Russian individuals during the week of April 4, in...more
A recent decision out of the Second Circuit Court of Appeals sets limits on plaintiffs’ ability to transform regulatory violations into the basis for securities class actions. The decision further clarifies that issuers do...more
On February 18, the Board of the Federal Reserve announced a final rule amending Regulation EE, which is intended to reduce risk and increase efficiency in the financial system. The final rule applies netting protections to a...more
Non-U.S. banks that maintain correspondent accounts in the United States face the prospect of significantly broader subpoenas from the Department of Justice (“DOJ”) and the Department of Treasury (“Treasury”) as a result of...more
Le 27 octobre 2020, le Bureau du surintendant des institutions financières (« BSIF »), soit l’organisme de réglementation des institutions financières fédérales du Canada, a lancé une consultation publique sur le nouveau...more
On October 27, 2020, the Office of the Superintendent of Financial Institutions (OSFI), Canada’s federal financial institutions regulator, launched a public consultation on new Draft Guideline E-4: Foreign Entities Operating...more
Project Finance Lender Can Claim Directly Against State Under Investment Treaty - A recent decision of an arbitral tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes...more
European banks operating across multiple jurisdictions face a set of specific regulatory challenges, including...more
In This Issue. The ongoing global outbreak of the coronavirus (COVID-19) continues to grow in scale and scope, creating public health and humanitarian challenges worldwide. Global economies are also being impacted. Federal...more
The OJK introduced new regulation to facilitate the transformation of foreign bank branches into subsidiaries and address certain existing uncertainties in executing bank M&A. The key change is the introduction of branch...more
On August 20, 2019, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) approved a final rule (the “2019 Final Rule”) to amend the rules implementing Section 13 of the Bank...more
The Federal Reserve Board and the FDIC completed their evaluation of 82 foreign banks’ 2018 resolution plans, which describe a company’s strategy for rapid and orderly resolution in the event of bankruptcy....more
Further liberalisation of the Myanmar banking and financial services sector The Central Bank of Myanmar (“CBM”) is making significant strides towards opening up Myanmar’s banking and finance sector. In the past few months,...more
The hyperinflation that Venezuela suffers, and the collapse of the purchasing power of the bolívar soberano (successor of the bolívar fuerte, which was the successor in turn of the bolívar without qualification), have...more
On May 2, 2019, the Board of Governors of the Federal Reserve System Board proposed amendments to Regulation EE, which implements the netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991...more
With the regulatory agenda for the US operations of foreign banks in a state of flux, Kevin Petrasic, Paul Saltzman, Glen Cuccinello, Will Giles and Alexander Abedine of global law firm White & Case provide a map to help...more
Non-EU banking groups (“non-EU groups”) with large EU operations will be required to establish an EU intermediate parent undertaking (“IPU”) according to the final changes to the Capital Requirements Directive (“CRD 5”)...more
Released on November 30, 2018, the foreign tax credit proposed regulations provide a comprehensive new framework for calculating the foreign tax credit in light of several changes made by the Tax Cuts and Jobs Act (TCJA or...more
In anticipation of the reorganization of post-Brexit Europe, France is seeking to adapt its legal system to attract foreign banks by providing them greater flexibility. ...more