Editor's Note -
Investment Advisers Breathe a Sigh of Relief. On Thursday, August 25, the federal district court in New Jersey ruled after a 26-day trial in favor of AXA Equitable Insurance Company and against the...more
9/1/2016
/ Add-ons ,
Anti-Money Laundering ,
Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Customer Identification Program (CIP) ,
Excessive Fees ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
First National ,
Form ADV ,
Investment Adviser ,
Pay-To-Play ,
Public Comment ,
Regulation S-K ,
Securities and Exchange Commission (SEC) ,
Transparency
Regulatory Developments -
FDIC Seeks Comments on Third-Party Lending Guidance -
On July 29, the FDIC announced that it is seeking comments on proposed Guidance for Third-Party Lending addressing steps...more
8/4/2016
/ Beneficial Owner ,
Capital Requirements ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Disclosure Requirements ,
Dodd-Frank ,
FDCPA ,
FDIC ,
Federal Reserve ,
FinCEN ,
Geographic Targeting Order ,
Insurance Industry ,
Mortgages ,
Real Estate Transactions ,
Third Party Lenders
Editor's Note -
What Exactly Is Bitcoin? In a case featuring a sting operation beginning with meetings in a coffee shop, ice cream store and hotel lobby and ending with the sale of bitcoins to an undercover Miami Beach...more
7/28/2016
/ ACH Payments ,
Amicus Briefs ,
Bitcoin ,
Commerce Clause ,
Consumer Financial Protection Bureau (CFPB) ,
Criminal Prosecution ,
CT Supreme Court ,
Customer Due Diligence (CDD) ,
Debt Collection ,
Dormant Commerce Clause ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Forum Selection ,
FRB ,
HMDA ,
Interstate Commerce ,
MERS ,
Money Laundering ,
Money Transmitter ,
Mortgages ,
NACHA ,
Short-Term Loans ,
Virtual Currency
Breaking News -
Solicitor General Files Brief in Madden v. Midland Funding -
On May 24, the U.S Solicitor General (SG) filed a brief with the U.S. Supreme Court (the Court) in the matter of Madden v. Midland...more
5/26/2016
/ Automotive Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Services ,
Department of Labor (DOL) ,
Depository Institutions ,
Due Diligence ,
Fair Housing Act (FHA) ,
Fair Labor Standards Act (FLSA) ,
FDIC ,
Financial Services Industry ,
FinCEN ,
Investment Companies ,
Madden v Midland Funding ,
Minimum Salary ,
Money Market Funds ,
National Bank Act ,
Non-GAAP Financial Measures ,
NPRM ,
OCC ,
Online Marketplace Lending ,
Payday Loans ,
Pleadings ,
Preemption ,
PSLRA ,
Reconciliation ,
Reverse Mortgages ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
State Law Claims ,
Unpaid Overtime ,
White-Collar Exemptions
Regulatory Developments -
Client Alert: CFPB Proposes Rules Prohibiting Class-Action Waivers in Arbitration Agreements -
On May 5, the CFPB issued long-expected proposed rules that will drastically limit the use of...more
5/12/2016
/ Anti-Money Laundering ,
Class Action Arbitration Waivers ,
Comptroller ,
Consumer Financial Protection Bureau (CFPB) ,
Due Diligence ,
FDIC ,
FHFA ,
FinCEN ,
Multi-Family Development ,
OCC ,
Online Marketplace Lending ,
Student Loans ,
Tax Evasion
Regulatory Developments -
DOL Issues Final Fiduciary Rule -
On April 6, the Department of Labor (DOL) unveiled its pre-publication final version of the long-awaited fiduciary rule (the Final Rule). Some of the more...more
4/7/2016
/ Banking Sector ,
Broker-Dealer ,
Community Banks ,
Corporate Governance ,
Cybersecurity ,
Department of Labor (DOL) ,
FDIC ,
Fiduciary Duty ,
Final Rules ,
FinCEN ,
FSOC ,
Funding Portal ,
GE Capital Bank ,
Independent Directors ,
Innovation ,
Investment Adviser ,
Mary Jo White ,
OCC ,
Phishing Scams ,
Private Equity ,
Securities and Exchange Commission (SEC) ,
SIFIs
Regulatory Developments -
SEC Issues FAST Act IM Guidance -
The SEC published an IM Guidance Update highlighting two exemptions from registration under the Investment Advisers Act of 1940 (the Advisers Act) that...more
3/31/2016
/ Banking Regulators ,
Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Fixing America’s Surface Transportation Act (FAST Act) ,
FSOC ,
Oil & Gas ,
Prepaid Payment Products ,
Qualified Mortgage Rule ,
Securities and Exchange Commission (SEC) ,
SIFIs
Regulatory Developments -
CFPB Now Accepting Complaints on Online Marketplace Lenders -
On March 7, the Consumer Financial Protection Bureau (CFPB) announced two initiatives: it will now accept complaints from...more
3/10/2016
/ Americold Realty Trust v Conagra Foods ,
Bank Secrecy Act ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Data Security ,
Diversity Jurisdiction ,
Enforcement Actions ,
FBAR ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
FinCEN ,
Liquidity ,
OCC ,
Online Marketplace Lending ,
REIT ,
SCOTUS ,
Trusts ,
Volcker Rule
Regulatory Developments -
FinCEN Issues Advisory on Update to List of FATF Identified Jurisdictions -
FinCEN has issued an advisory to financial institutions summarizing updates made by the FATF to the list of...more
Regulatory Developments -
Client Alert: FINRA Releases 2016 Regulatory and Examination Priorities Letter -
Goodwin Procter’s Investment Management practice has issued a client alert on FINRA’s Jan. 5 release of its...more
1/14/2016
/ CFTC ,
Examination Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Holding Companies ,
Institutional Shareholder Services (ISS) ,
Marijuana Related Businesses ,
New Guidance ,
OCIE ,
Proxy Access ,
Proxy Voting Guidelines ,
Securities and Exchange Commission (SEC) ,
Swap Clearing