On October 10, DBRS published a rating methodology regarding Derivative Criteria for European Structured Finance Transactions. Release....more
On September 17, Fitch published rating criteria for monitoring existing ratings assigned to certain European equity release mortgage-supported RMBS transactions. Release....more
U.S. Financial Industry Developments - Community Reinvestment Act: Revisions to Impact of Evidence of Discriminatory or Other Illegal Credit Practices on Community Reinvestment Act Ratings... ...more
U.S. Financial Industry Developments - LIBOR "Transition" - While there is a way to go until the end of 2021 when panel banks will no longer be required to provide LIBOR quotes to the FCA, we expect to see more and more...more
U.S. Financial Industry Developments - CFTC and SEC Announce Approval of New MOU - On June 28, 2018, the Commodity Futures Trading Commission ("CFTC") and the Securities and Exchange Commission ("SEC") announced that...more
U.S. Financial Industry Developments - ISDA, AFME, ICMA, SIFMA and SIFMA AMG Publish Global Benchmark Report - The International Swaps and Derivatives Association (ISDA), the Association of Financial Markets in Europe...more
European Financial Industry Developments - BCBS Publishes its Work Program for 2018 and 2019 - On June 5, 2018, the Basel Committee on Banking Supervision ("BCBS") published details of its work program for 2018 and...more
On May 15, 2018, DBRS issued a report entitled: Rating European Non-Performing Loans Securitizations. On May 15, 2018, Fitch issued a report entitled: Global Structured Finance Rating. ...more
Federal Banking Agencies Issue Final Rule to Exempt Commercial Real Estate Transactions of $500,000 or Less from Appraisal Requirements: On April 2, 2018, the Board of Governors of the Federal Reserve System, the Federal...more
Federal Court Sends Colorado's Case Against Online Lending Platform Back to State Court - Colorado's ongoing challenge to the bank partnership model of online lending will next play out, at least in part, in state court. ...more
Home Mortgage Disclosure Act: FFIEC's Revised 'A Guide to HMDA Reporting: Getting It Right!' On March 14, 2018, the Office of the Comptroller of the Currency published an updated resource providing guidance for complying...more
SEC Statement on Potentially Unlawful Online Platforms for Trading Digital Assets - On March 7, 2018, the Divisions of Enforcement and Trading and Markets of the Securities and Exchange Commission released a "Statement on...more
Looking Out for Main Street: SEC Focuses on Retail, Cybersecurity and Cryptocurrency - The Commissioners and senior officials of the Securities and Exchange Commission ("SEC" or "Commission") addressed the public on...more
US CFTC and UK FCA Sign Arrangement to Collaborate on FinTech Innovation - On February 19, The US Commodity Futures Trading Commission ("CFTC") and the UK's Financial Conduct Authority ("FCA") signed an arrangement that...more
CFTC Files Eight Anti-Spoofing Enforcement Actions against Three Banks (Deutsche Bank, HSBC & UBS) & Six Individuals - On January 29, 2018, the Commodity Futures Trading Commission ("CFTC"), along with the Department of...more
Interagency Statement on Accounting and Reporting Implications of the New Tax Law - On January 18, 2018, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal...more
SEC Division of Investment Management Letter on Cryptocurrency Related Investment Products; Joint Statement by SEC and CFTC Enforcement Directors Regarding Virtual Currency Enforcement Actions - On January 18, 2018, in a...more
CFTC Approves Amendments to Rules on Intermediary Registration and Review of Adverse Actions - On January 9, 2018, the U.S. Commodity Futures Trading Commission (the "CFTC") approved final rules that update Parts 3 and 9...more
CFTC Statement on Self-Certification of Bitcoin Products by CME, CFE and Cantor Exchange - On December 1, 2017, the Commodity Futures Trading Commission ("CFTC") issued a Statement on the Self-Certification of Bitcoin...more
FHFA Updates Progress on Fannie Mae and Freddie Mac Credit Risk Transfer Programs - On November 22, 2017, the Federal Housing Finance Agency ("FHFA") issued a status report on credit risk transfer transactions done in...more
SEC Announces the Formation and First Members of Fixed Income Market Structure Advisory Committee - On November 9, 2017, the Securities and Exchange Commission ("SEC") announced the formation and first members of its Fixed...more
European Commission Inception Impact Assessment on Legislative Proposal for EU Framework on Crowdfunding - On October 30, 2017, the European Commission published an inception impact assessment for a legislative proposal...more
SEC Proposes Rules to Implement FAST Act Mandate to Modernize and Simplify Disclosure - On October 11, 2017, the Securities and Exchange Commission (SEC) proposed amendments "to modernize and simplify disclosure...more
France Welcomes Foreign and Alternative Capital Providers with Latest Reform of Finance Sector - Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from...more
Texas District Court Rules on Damages Calculations in FDIC’s RMBS Suit Against Goldman Sachs and Deutsche Bank - On September 14, 2017, Judge Sam Sparks of the U.S. District Court for the Western District of Texas granted...more