A new report out Tuesday from the Food & Drug Administration reveals that drug maker Novartis “concealed manipulated data” from the agency “while applying for approval of an extremely expensive gene therapy treatment and then...more
In a “highly anticipated” ruling from the US Court of Appeals for the DC Circuit, a three-judge panel has found the structure of the Consumer Financial Protection Bureau unconstitutional, holding that the current organization...more
Effective December 24, 2015, all securitizations of residential mortgage loans (RMBS), both public and private, will be subject to the Credit Risk Retention Rule (the “Rule”).[1] The Rule was promulgated on December 24, 2014,...more
RMBS Suit Against WMC Mortgage LLC Dismissed as Time-Barred - On July 10, 2015, Judge Alvin Hellerstein of the Southern District of New York granted defendant WMC Mortgage LLC's motion for judgment on the pleadings in an...more
On July 20, the Department of the Treasury published a Notice and Request for Information (“RFI”) seeking comment on various aspects of online marketplace lending, including – - the business models and products offered...more
SEC Proposes Rules to Require Disclosure Regarding the Relationship Between Executive Pay and Company Financial Performance - On April 29, the Securities and Exchange Commission published proposed rules that would...more
European Commission Unveils Tax Transparency Package - The European Commission has laid out its plans in a new Tax Transparency Package to clamp down on tax deals made between EU governments and multi-national...more
The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Department of Housing and Urban Development, Federal Housing Finance Agency, and...more
ESMA Securities and Markets Stakeholder Group Responds to ESMA Consultations on Draft Technical Standards and Technical Advice on the Market Abuse Regulation - On October 13, the Securities and Markets Stakeholder...more
Council of EU Publishes Compromise Proposal on ELTIF Regulation - On May 27, the Council of the EU published a compromise proposal (10215/14), dated May 23, 2014, in respect of the European Commission's proposed...more
Joint Proposal on Risk Retention - On August 28, the FDIC, Fed, FHFA, OCC, SEC and HUD issued a notice of revised proposed rulemaking relating to required risk retention by sponsors in securitization transactions. The...more
In This Issue: *Financial Industry Developments - CFTC No-Action Relief for CPO Registration of Business Development Companies - CFTC No-Action Relief for Certain Swap Transactions - CFTC and International...more