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Goodwin

EU AI Act: Key Points for Financial Services Businesses

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The European Union (EU) Artificial Intelligence Act (AI Act), Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on artificial intelligence and amending...more

Proskauer Rose LLP

Feeling Bullish: A Career in Private Credit

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Interest in private credit has grown significantly in the past 12 months. As the syndicated market has slowed, direct lenders (and borrowers) are finding better deal flow and increased opportunities. Market pundits have...more

Mayer Brown

MSR Fund Investments: 7 Aspects to Consider

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While residential mortgage lenders are facing tough headwinds driven by rising interest rates and low housing volume, the current market presents opportunities for savvy investors looking at mortgage servicing rights...more

Robins Kaplan LLP

The Robins Kaplan Spotlight, Vol 8 No. 1 - Expecting the Unexpected: Navigating Fiduciary Relationships

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The Spotlight is the result of ongoing collaboration between our national trial practice and estate planning groups, with the goal of providing a forum to discuss the latest news and other issues impacting the trusts and...more

White & Case LLP

Ready for restructuring

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HEADLINES - -Rising interest rates and reduced refinancing options are increasing the likelihood of restructuring and financial distress in the next 12 months -Cov-lite debt packages have given borrowers breathing...more

Goodwin

SEC Proposes Changes to Private Fund Regulation

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In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed changes to private fund regulation; the Office of the Comptroller of the Currency (OCC) succeeded in validating its “valid-when-made” rulemaking; the...more

Allen Matkins

New Laws For A New Year

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California's Department of Financial Protection & Innovation has complied this summary of new laws that affect or may otherwise be of interest to persons licensed by the department.  In general, these laws will take effect on...more

Wiley Rein LLP

“Securities Claim” Exclusion Applied Where Notes Constituted a “Security” as Defined by the Securities Acts

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The United States District Court for the Eastern District of Michigan, applying Michigan law, has held that an exclusion in an investment adviser’s professional liability policy applicable to claims arising from the sale of...more

White & Case LLP

Mexico’s CNBV updates remote contracting requirements

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On Thursday, September 9, the resolutions that reform, add and repeal the general rules on the prevention and identification of operations with resources of illicit origin applicable to financial cooperative associations...more

White & Case LLP

Regulatory update to remote onboarding procedures of various financial institutions

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On Thursday, September 9, the resolutions that reform, add and repeal the general rules on the prevention and identification of operations with resources of illicit origin applicable to financial cooperative associations...more

Allen Matkins

Governor Appoints New Commissioner - Go Bears!

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Yesterday, Governor Gavin Newsom has announced the appointment of Clothilde “Cloey” Hewlett to serve as California's next Commissioner of the Department of Financial Protection and Innovation.  Ms. Hewlett has been serving as...more

White & Case LLP

Direct lending in the US is in good shape post-COVID-19

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After a volatile and challenging year, US direct lenders moved into 2021 with reputations enhanced and teams strongly positioned to fund new deals. But we cannot discuss current direct lending in the US without casting a...more

Goodwin

Supreme Court Decision Empowers President Biden to Replace Director of FHFA

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In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more

Allen Matkins

Commissioner Alvarez Leaves Office On Friday - What Happens Next?

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Recently,  Manuel P. Alvarez announced that June 18 will be his last day as Commissioner of the Department of Financial Protection & Innovation.  Until Governor Newsom appoints a successor, Chief Deputy Commissioner Chris...more

Goodwin

SEC Releases 2021 Examination Priorities

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In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more

Goodwin

SEC Finalizes Reforms Under Investment Advisers Act

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In this Issue. The Securities and Exchange Commission (SEC) finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors, and published a risk...more

Goodwin

OCC Proposes Rules for CRA Benchmarks and Fair Access

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In the News. The Office of the Comptroller of the Currency (OCC) issued a long-awaited rule seeking comment on its proposed approach to determine the Community Reinvestment Act (CRA) evaluation measure benchmarks, retail...more

Goodwin

Financial Services Weekly Roundup: SEC Proposes Modified Disclosure Framework For Funds

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In the News. The Securities and Exchange Commission (SEC) proposed modifying the disclosure framework for mutual funds and exchange-traded funds (funds), which would create a new layered disclosure regime that attempts to...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

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In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

White & Case LLP

Leveraged Loan Update: Millennium Court Decision Confirms Syndicated Loans Are (Still) Not Securities

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The Bottom Line: On May 22, 2020, the United States District Court for the Southern District of New York concluded that broadly syndicated term loans are not "securities". This decision is highly significant to the US...more

Dechert LLP

Some Good News for the Loan Industry—Loans Are Not Securities

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Although the loan industry has long looked at loans as being obligations that arise in a commercial lending relationship, which are therefore not securities under Federal and state securities laws, the law supporting this...more

Goodwin

Financial Services Weekly Roundup: The SBA’s New Paycheck Protection Program

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Paycheck Protection Problems. In last week’s Roundup, we discussed the initial guidance issued by the U.S. Department of the Treasury (Treasury) and the Small Business Administration (SBA) on the implementation of the...more

A&O Shearman

SEC Emergency Order Bolsters Fund Liquidity by Expanding Ability to Borrow From Affiliates, Enter Into Interfund Lending...

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In response to the outbreak of the COVID-19 coronavirus disease, the Securities and Exchange Commission took extraordinary action to bolster liquidity for registered investment companies through at least June 30, 2020. In an...more

White & Case LLP

Ten years on: The surprising resilience of European leveraged finance: The post-crisis rise of leveraged finance

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A decade on from the onset of the financial crisis, the leveraged debt landscape is almost unrecognisable and continues to evolve as lenders, borrowers and advisers find new ways to come to market. In the aftermath of the...more

Proskauer Rose LLP

Proskauer’s Second Annual Survey on Trends in Private Credit Markets

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We are delighted to share with you the results from our second annual Trends in Private Credit survey. This year’s survey was conducted via web from January 9th to February 9th 2018. In this report, we will share...more

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