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Loans No-Action Letters

Wiley Rein LLP

Wiley Consumer Protection Download (December 7, 2020)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

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In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Dechert LLP

FRBNY Further Revises TALF 2.0 FAQs; SEC Issues No-Action Relief for Registered Fund and BDC Participants

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Introduction - As market participants prepare for the launch of the latest version of the Term Asset-Backed Securities Loan Facility (“TALF”) program (“TALF 2.0”), two new developments provide greater clarity as to how the...more

Dechert LLP

SEC Proposes Amendments to Auditor Independence Rule to Address the “Loan Provision”

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The U.S. Securities and Exchange Commission (SEC) voted unanimously on May 2, 2018 to propose amendments to Rule 2-01(c)(1)(ii)(A) under Regulation S-X – the so-called “Loan Provision” (Proposal). Generally, the Loan...more

Broker-Dealer Compliance + Regulation

SEC Staff Throws Funds a Lifeline on Auditor Independence (For Now)

The SEC’s Division of Investment Management provided temporary relief from the headache created for funds when the failure to meet the provisions of the so-called “loan rule” may disqualify fund auditors from being...more

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