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Public Funds Financial Institutions

Holland & Knight LLP

New Florida ESG Law Impacts Rating Agencies, Market Participants, Municipal Issuers

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The Florida Division of Bond Finance published a notice (the Notice) on June 29, 2023, providing guidance on Florida House Bill 3 (HB 3), which was signed into law on May 2, 2023, by Gov. Ron DeSantis. HB 3, in part,...more

Holland & Knight LLP

New Florida Law Prohibits Use of ESG Factors in Government Investment and Procurement Decisions

Holland & Knight LLP on

Florida Gov. Ron DeSantis on May 2, 2023, signed into law CS/CS/HB 3, which passed the Florida Legislature during the 2023 regular session and becomes effective on July 1, 2023. CS/CS/HB 3 – now codified at 2023-28, Laws of...more

Mintz - Energy & Sustainability Viewpoints

New ESG Requirements for Banks that Hold Public Funds May Raise Challenging Compliance Issues

Much ink has been spilled about ESG laws and regulations targeted at the investment of public funds, and rightfully so.  Yet, there has been little discussion of novel requirements imposed on banks that simply hold state or...more

Shutts & Bowen LLP

HB-3: An Overview of ESG Factors Relating to Public Funds Investment and Financial Industry Impacts

Shutts & Bowen LLP on

On May 2, 2023, Florida Governor Ron DeSantis signed into law HB 3, also known as “An Act Relating to Government and Corporate Activism (the “Act”). The Act amends Florida Statute provisions relating to (i) deposits and...more

Allen Matkins

I-Bank Bill Advances Despite Manifold Issues

Allen Matkins on

A California bill that would charter the California Infrastructure and Economic Development Bank (I-Bank) as a depository institution passed out of the Senate Banking and Financial Institutions Committee yesterday. If the...more

Dechert LLP

Volcker Agencies Provide Guidance Regarding Treatment of Registered Funds and Foreign Public Funds During Their Seeding Period

Dechert LLP on

As the general July 21, 2015 deadline approached to conform with the implementing regulations (Final Rules) for the Volcker Rule, a key issue remained with respect to the sponsoring, organizing and seeding of investment...more

Morgan Lewis

Volcker Rule: New FAQs Regarding Foreign Public Funds and Joint Venture Covered Fund Exclusions

Morgan Lewis on

Additional guidance issued five weeks before the July 21, 2015 conformance date. On June 12, the five federal agencies jointly responsible for implementing the Volcker Rule (the Agencies) released two new “Frequently...more

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