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Finance & Banking Updates

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

PE Opportunity in Litigation Financing

by Mintz Levin on

Litigation financing has quickly grown from a fledging concept into a robust industry. The concept is simple: in exchange for a share of any proceeds, a financing firm agrees to pay all or a portion of the plaintiff’s legal...more

Financial Regulatory Developments Focus - April 2018 #3

by Shearman & Sterling LLP on

In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Debate Intensifies as to Whether the Bankruptcy Code’s Avoidance Provisions Apply Extraterritorially

by Jones Day on

The ability of a trustee or chapter 11 debtor-in-possession to avoid fraudulent or preferential transfers is a fundamental part of U.S. bankruptcy law. However, when a transfer by a U.S. entity takes place outside the U.S. to...more

First Circuit Rejects Sunbeam Approach to Effect of Rejection of Trademark License in Bankruptcy

by Jones Day on

In Mission Product Holdings, Inc. v. Tempnology, LLC (In re Tempnology, LLC), 879 F.3d 389 (1st Cir. 2018), the U.S. Court of Appeals for the First Circuit ruled that the rejection of a trademark license in bankruptcy means...more

Cricket’s Ball-Tampering Scandal: 10 Lessons for Financial Services

by Latham & Watkins LLP on

A recent sports scandal provides helpful guidance for current efforts to improve conduct and culture in the financial services industry. Introduction - The Australian cricket team is coached by a popular ex-player,...more

CFPB Issues RFI on Consumer Financial Education

by Weiner Brodsky Kider PC on

The CFPB issued a Request for Information (RFI) seeking comments and information on the overall efficiency and effectiveness of its consumer financial education programs....more

Opening Up Access to UK Payment Schemes

by Latham & Watkins LLP on

Bank of England announces that, for the first time, a non-bank payment services provider has accessed the UK payments system directly. The Bank of England has announced that a regulated payment services provider (PSP) has...more

Insurtech Companies Not Invited to Play in Arizona’s Fintech Sandbox

Last month Arizona became the first U.S. state to enact a law (H.B. 2434) establishing a fintech regulatory sandbox program to facilitate the growth of innovative financial products and services. The Arizona law charges the...more

Early Liquidity Rights Create Management Misalignment

by Latham & Watkins LLP on

The average PE hold period is getting longer. According to data provider Preqin, PE firms held on to European assets for an average of 5.65 years in 2017, up from 4.41 years in 2007....more

SEC Proposes Rules Addressing Broker-Dealer and Investment Adviser Standards of Conduct

by Dechert LLP on

On April 18, 2018, the U.S. Securities and Exchange Commission (SEC) voted 4-1 to propose a package of rules and interpretations (Proposals) intended to improve the retail investor experience and to provide greater clarity...more

Iowa Amends Provisions Regarding Mortgage Releases

by Weiner Brodsky Kider PC on

The state of Iowa has amended several of its provisions relating to mortgage releases. These provisions take effect on July 1, 2018....more

On the financial services horizon

by DLA Piper on

A five minute roundup of upcoming cases and anticipated regulatory developments of interest to the financial services sector. Welcome to the eighth edition of our On the Financial Services Horizon newsletter – a regular...more

This Week in FCPA-Episode 99, the banks are still behaving badly edition

by Thomas Fox on

With Wells Fargo about to be fined $1 billion for behaving badly, Jay Rosen and myself take a look at some of the top compliance stories over the past week. 1. Wells Fargo expected to be fined $1 billion for variety of...more

Redemption only goes so far

by Ary Rosenbaum on

My great Uncle Jack was the youngest of 4 children. He followed Herschel, Zoltan, and my grandmother Rozalia. He was a troublemaker when he was a kid. One time, he gambled away the family’s ration coupons and my grandmother...more

Orange Groves, Pay Phones, Visas, and Violins: Why Your Real Estate or Business Investment May be Subject to Securities Regulation

A recent Wall Street Journal headline announced “SEC Looks Into Kushner Cos. Over Use of EB-5 Program for Immigrant Investors.” It is not unusual to hear that a company is being investigated by the government over...more

Hinshaw Obtains Major Win for Passive Debt Buyer Before Massachusetts Supreme Judicial Court

by Hinshaw & Culbertson LLP on

Hinshaw secured a major victory last week before the Massachusetts Supreme Judicial Court on behalf of passive debt buyers. At issue was whether LVNV Funding, LLC was operating as an unlicensed debt collector in...more

Texas Bankruptcy Judge Holds that Not Every Loan Related to Education is a Nondischargeable Student Loan in Purported Class Action

by Balch & Bingham LLP on

Bankruptcy Code Section 523(a)(8) generally prohibits a discharge of student loan debt, unless the student debtor can prove that paying it back would be an undue hardship—often a high bar. That does not stop student debtors...more

Orrick's Financial Industry Week In Review

ECB Publishes Opinion on Proposed Regulation Amending EBA Regulation - The European Central Bank ("ECB") published an opinion (CON/2018/19) (dated April 11, 2018) on a proposed Regulation amending (among other things) the...more

Important May 31 Deadline for U.S. Business Enterprises with Foreign Direct Investment

by Fenwick & West LLP on

The U.S. Bureau of Economic Analysis (BEA) conducts the BE-12 benchmark survey of foreign direct investment in the United States every five years. ...more

Why trusted data belongs in the cloud

The cloud is not just a fast and cost-efficient means to address the short-term, large-scale storage needs of financial institutions. Handling trusted data in this way is a powerful tool in the search for alpha....more

LIBOR Discontinuance Update - What You Should Know

by Seyfarth Shaw LLP on

As you likely know by now, in July 2017 the U.K.’s Financial Conduct Authority announced that LIBOR will be phased out by 2021. ...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

It was a busy Thursday in the big pharma world, with drugmaker Shire rejecting a $60 billion takeover offer from Japan’s Takeda, while US rival Allergan disclosed that it was considering a bid of its own for Shire....more

French legal and regulatory update – March 2018

by Hogan Lovells on

The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for February 2018. Please see full...more

LATIN AMERICA & THE CARIBBEAN: A Legal Guide for Business Investment and Expansion - Jamaica

1 .What role does the government of Jamaica play in approving and regulating foreign direct investment? The government of Jamaica (GOJ) is highly committed to facilitating a viable environment for businesses and...more

Asset Management Regulatory Roundup - April 2018 - Issue 7

by Dechert LLP on

A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the FCA’s statement on the implementation period for Brexit; the requirement for firms...more

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