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?
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
Following the recent decision of the High Court, in which specific performance was ordered against two Lebanese banks in favour of our client, Vatche Manoukian, the Court has now handed down its fully reasoned judgment. ...more
The Court of Appeal ruled that losing proprietary rights under foreign law could invalidate personal claims against third party recipients of trust assets. On 27 January 2022, the UK Court of Appeal unanimously dismissed...more
The financial and humanitarian crisis in Lebanon continues to hit the headlines. Our commercial disputes team has been assisting English domiciled families with funds held in Lebanese banks to take expedited legal steps in...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
As part of our periodic updates, here is an overview of recent developments of relevance to participants in the real estate finance market across certain key jurisdictions in Europe....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
Booking model practices used by international banks placed under scrutiny as a result of Brexit. The European Central Bank has been considering the booking model practices used by international banks, and how to prevent...more
The Financial Conduct Authority has published a Policy Statement introducing final rules on whistleblowing requirements for UK branches of overseas (EEA and third country) banks...more
This Court of Appeal ruling considers the effect of bank resolution measures on an English law governed facility agreement. The question of whether the claimant was able to recover under the facility agreement depended on...more
Final TLAC Rules and Structured Products - On December 15, 2016, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) issued its final rules regarding long-term debt and total loss absorbing...more
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
The global financial crisis hit Europe especially hard, in large part because countries could not let their banking systems fail and the resultant governmental support of troubled banks caused systemic financial stress. The...more
In this issue: - ISS Announces Launch of QuickScore 3.0 - SEC Provides Relief to GSEC From Rule 204 Close-Out Requirements - CFTC Extends Relief to FCMs from Certain Commingling Requirements -...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
Council of the EU Adopts Bank Recovery and Resolution Directive - On May 6, the Council of the EU adopted at first reading the text of the Bank Recovery and Resolution Directive (BRRD). The BRRD seeks to harmonize...more
UK Government Backs "Transparency & Trust" Paper Recommendations - The UK government has published a response paper largely in agreement with the controversial "Transparency & Trust" discussion paper published by its...more
The U.K.’s banking regulator, the Prudential Regulation Authority (PRA) recently published a consultation paper on its approach to supervising international banks (the Draft Supervisory Approach). ...more
The march towards structural reform of the EU banking sector has taken another step forward, as the EU Commission’s (the “Commission”) legislative proposals (the “Proposals”) for a Regulation implementing certain...more
On December 11, the FCA published a final notice to Lloyds Banking Group in which it was fined a record GBP £28 million. The fine was imposed for “serious failings” in its sales practices, the largest UK regulatory penalty...more
On October 17, the PRA published a speech given by Andrew Baily, Deputy Governor of the Bank of England, which sets out the PRA’s approach towards non-EEA branches. In particular, the PRA intends to let Chinese banks open...more
FHFA Statement on Freddie Mac Risk-Sharing Transaction - On July 24, the FHFA announced that Freddie Mac is nearing completion of its first risk-sharing transaction, a direct debt issuance, that will assist Freddie Mac...more
The U.K. government recently published its response to the Parliamentary Commission on Banking Standards’ (the Commission) final report and recommendations, which partly cover the U.K.’s Approved Persons regime....more
FACTS - HM Treasury restricted access to the UK's financial markets by a major Iranian commercial bank, Bank Mellat, on account of its alleged connection with Iran's nuclear weapons and ballistic missile programmes....more