This past Monday, November 5, 2018, the Financial Accounting Standards Board (“FASB”) published much-sought after guidance regarding the recognition of franchise fees under Accounting Standard Codification 606, Revenue...more
In the ancient parable of the Blind Men and the Elephant, a group of blind men who had never come across an elephant before were asked to describe it. Each blind man felt a different part of the elephant’s body, but only one...more
New York Attorney General’s Office publishes a detailed report on policies and practices at virtual asset trading platforms, citing multiple common deficiencies -
The New York Attorney General’s Office (“NYAG”) issued a...more
U.S. Treasury Report Recommends Congressional and Regulatory Support of Technological Innovation for FinTech and Nonbank Financial Services Industries -
The Department of the Treasury (“Treasury”) released a sweeping...more
On July 31, 2018, the Office of the Comptroller of the Currency (“OCC”) announced that it would begin accepting applications for national bank charters from FinTech entities that satisfy the licensing requirements for...more
On May 24, 2018, President Donald Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act(the “Act”). This new law rolls back certain provisions of the Dodd-Frank Act of 2010 (“Dodd-Frank”),...more
Last week, the United State Senate passed bipartisan legislation designed to substantially amend the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”). Originally drafted by Senate Banking...more
EXECUTIVE SUMMARY –
Following testimony February 6th before the U.S. Senate, as well as a series of recent enforcement actions, it is clear that both the SEC and CFTC are picking up steam in their efforts to command a...more
SEC Chairman Jay Clayton has issued a broad warning to companies and individuals trying to “cash in” on the market frenzy surrounding Bitcoin and other cryptocurrencies. His prepared remarks at the Securities Regulation...more
On December 5, the U.S. Senate Banking Committee approved S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, which amends several regulations imposed under the 2010 Dodd–Frank Wall Street Reform and...more
On May 11, 2017, President Trump signed a long-awaited Executive Order that aims to bolster the cybersecurity of federal networks and critical infrastructure. In an effort to fulfill the President’s promise to get “tough on...more
Yesterday, by a vote of 217 to 213, the U.S. House of Representatives approved H.R. 1628, the American Health Care Act (AHCA), to repeal and replace the Patient Protection and Affordable Care Act (ACA). The House action...more
House Financial Services Committee Votes To Repeal And Replace Dodd-Frank -
On September 13th, the House Financial Services Committee approved the Financial CHOICE Act of 2016 to repeal and replace key parts of the 2010...more
10/5/2016
/ Broker-Dealer ,
Class Action ,
Commercial Real Estate Market ,
Consumer Financial Protection Bureau (CFPB) ,
Cyber Threats ,
Dodd-Frank ,
Enforcement Actions ,
Financial Institutions ,
FinTech ,
FSOC ,
OCC ,
Private Equity ,
Securities and Exchange Commission (SEC) ,
Whistleblowers
On September 13th, the House Financial Services Committee approved the Financial CHOICE Act of 2016 to repeal and replace key parts of the 2010 Dodd-Frank law by a largely partisan vote of 30 to 26. Democrats declined to...more
9/28/2016
/ Bailout ,
Capital Formation ,
CFTC ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Act ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Committee ,
Fraud ,
FSOC ,
Penalties ,
Repeal ,
Securities and Exchange Commission (SEC) ,
SIFIs ,
Small Business ,
Volcker Rule