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General Business Finance & Banking Elections & Politics

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Your Daily Dose of Financial News

by Robins Kaplan LLP on

There’s falling from grace, and then there’s Elizabeth Holmes. Once compared glowingly to Steve Jobs, Holmes’ well-documented Theranos ills (including exaggerated and faked blood-test results) have landed her with SEC...more

FinCEN Is Watching ICOs for BSA Violations

by Perkins Coie on

In a recently published letter to the Senate Finance Committee, FinCEN confirmed that when an ICO token is a “convertible virtual currency,” administrators or exchangers of the token would be “money transmitters” under...more

Status of Measures Targeting Private Corporations Following the 2018 Federal Budget

by Bennett Jones LLP on

The Federal Budget, released February 27, 2018, has clarified federal plans to change the tax treatment of private corporations and represents a substantial retreat from proposals announced in July 2017. In July 2017, the...more

FinCEN Letter to U.S. Senate Committee on Finance Purports to Thread Needle of Potentially Competing Jurisdictions by Regulators...

by Ballard Spahr LLP on

As we previously have blogged, the Financial Crimes Enforcement Network (“FinCEN”) became one of the first regulators to wade into the regulation of cryptocurrency when it released interpretive guidance in March 2013 stating...more

EU Publishes Draft Guidelines for Future Relationship with Britain

The guidelines present a stark contrast to Prime Minister May’s vision of a “deep and special” partnership with the EU after Brexit. The President of the European Council has issued negotiating guidelines for the future...more

Bank On It: States Taking a Proactive Approach to Cannabis Banking

by Burns & Levinson LLP on

When it comes to the cannabis industry, banks and other financial institutions can find themselves in a particularly murky legal waters (see Banking & Cannabis: Where Do Things Stand?). Federal rules dictate that banks and...more

Colorado Senate Bill Proposes Utilizing Blockchain Technology to Improve State Government’s Operations and Cybersecurity

The Colorado Senate is considering a bill to utilize blockchain or other distributed ledger technology for a variety of purposes, including to improve the state government’s operations and cybersecurity. Senate Bill 18-086...more

The National Bank of Ukraine further relaxes FX restrictions (Ukrainian)

by Dentons on

The National Bank of Ukraine (the NBU) continues to liberalize currency control rules by adopting Resolution No. 12 dated 15 February 2018 (effective from 16 February 2018) and Resolution No.19 dated 1 March 2018 (effective...more

The EU Publishes a First Draft of the Withdrawal Agreement with the UK

We now have more clues on what the terms of the EU’s divorce from the UK may look like—expect friction. The European Union has published a draft of the proposed Withdrawal Agreement covering the UK’s departure from the EU...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A White House announcement about plans for steel and aluminum tariffs left the already-unsettled markets even shakier yesterday....more

U.S. Senate Hearing on Cryptocurrencies

On Feb. 6, Jay Clayton and Christopher Giancarlo, the chairmen of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), respectively, jointly testified before the Senate Banking...more

Four Blockchain Technology Bills Proposed by New York Assemblyman

New York Assemblyman Clyde Vanel has introduced proposals in the state legislature for four laws which, if passed, could transform how the State of New York interacts with and views blockchain technology. The first...more

Trump Infrastructure Plan Proposes Expansion of Federal Credit Programs

by Shearman & Sterling LLP on

Last week, the White House released to Congress its long-awaited infrastructure plan—a 53-page Legislative Outline for Rebuilding Infrastructure in America (the “Outline”)—to accompany its proposed Fiscal Year 2019 budget....more

More Planning Tips for Individuals Under New Tax Act

by Ruder Ware on

As Shanna Yonke mentioned in her January 22, 2018 Legal Update The New Tax Law Provides Estate Planning Opportunities, President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017. The Act (officially,...more

Private Company Tax Planning Opportunities for 2018

by Perkins Coie on

The Tax Cuts and Jobs Act of 2017 (the 2017 Tax Act) and the recent taxpayer victory in the U.S. Tax Court’s Lender Management, LLC decision have created important planning opportunities for both our closely held and...more

Closed-loop Payment System Proposed for Ohio Medical Marijuana Program

by Benesch on

Two identical bills (“Bills”), H.B. 495 and S.B. 254, were introduced in the past week by Representative Seitz and Senator Terhar that would require medical marijuana entities (cultivator, processors, dispensaries, and...more

The New Deduction for Pass-Through Income (or How Congress Failed at Tax Simplification)

One of the more significant changes in the recently enacted Tax Cuts and Jobs Act is new Internal Revenue Code Section 199A, Qualified Business Income. Although touted as providing tax simplification, the Tax Cuts and Jobs...more

AML/BSA Focus by U.S. Senate Committee Testimony – From Beneficial Ownership to Cryptocurrency

by Ballard Spahr LLP on

This week, the U.S. Senate Committee on the Judiciary and the U.S. Senate Committee on Banking, Housing and Urban Affairs held hearings focused in part on Anti-Money Laundering (“AML”) and the Bank Secrecy Act (“BSA”)....more

The sanctions landscape: what to expect in 2018

by Dechert LLP on

In 2017 there were a number of major sanctions developments in the EU and the US, with implications for businesses both in terms of keeping their compliance processes effective, and in terms of what to do if breaches are...more

Impact of 2017 Tax Act on Real Estate Activities

by Sullivan & Worcester on

The first, global observation to share is that the real estate industry dodged a lot of potential bullets during the tax reform process and came out smelling like roses – indeed, actually came out ahead, overall, under the...more

Trump Administration Releases List of Russian Political Figures and Oligarchs to Congress, Decision on Defense/Intelligence Sector...

by Dechert LLP on

As required under the Countering America’s Adversaries Through Sanctions Act (“CAATSA”), the Trump Administration on Monday released an unclassified version of a report (the “Report”) identifying senior political figures and...more

The Tax Cuts Jobs Act: Should You Change Your Business Entity Structure?

by Pessin Katz Law, P.A. on

Q&A – A Few Highlights On What the Tax Cuts and Jobs Act Means for Your Business - President Trump signed The Tax Cuts and Jobs Act of 2017 (“Tax Reform Act”) into law on December 22, 2017, a little less than two months...more

EU gradually expands sanctions on North Korea and Venezuela

by White & Case LLP on

The EU has added several individuals and entities to its list of persons subject to an asset freeze and travel restrictions, as part of sanctions targeting the Russian Federation, Venezuela, and the Democratic People's...more

State of the Financial Restructuring Market

Continuing low interest rates and generally improved economic conditions in the U.S. and worldwide during 2017 have reduced financial distress and the need for business bankruptcies in most sectors. However, out-of-court...more

10 Themes for 2018

Tax reform, shifting international dynamics, Trump administration goals and a potentially strong market for transactions all seem likely to impact business activity in 2018. Below are 10 areas to explore in our 10th annual...more

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