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A&O Shearman

Pensions: what's new this week - October 7, 2024

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Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. TPR publishes regulatory intervention report: The Meghraj...more

McDermott Will & Emery

ZuFinG II – Der nächste Schritt zur Stärkung des Finanzstandorts Deutschland?

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Nach den ersten Schritten mit dem Zukunftsfinanzierungsgesetz („ZuFinG I„) legte das Bundesministerium der Finanzen am 27. August 2024 mit dem Entwurf eines Zweiten Gesetzes zur Finanzierung von zukunftssichernden...more

A&O Shearman

Zooming In on AI - #6: AI under financial regulations in the U.S., EU and U.K.

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Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (50): What is a Best Interest Process?

If you study the rules of the various standard-setters, a pattern emerges about their expectations for the process for developing a best interest recommendation. The DOL and SEC are consistent in that regard, while the NAIC...more

Troutman Pepper

Investment Management Update - Q2 2024

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This update covers legal developments and regulatory news for funds, their advisers, and industry participants for the quarter ended June 30. Rulemaking and Guidance: • SEC Issues Third Marketing Rule Risk Alert for...more

Troutman Pepper

Private Funds CFO: Fees & Expenses Survey 2024

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Financial disclosure - A decade of growing transparency - Welcome to the 2024 Private Funds CFO Fees & Expenses Survey, which has been conducted biennially since 2014. The SEC’s Private Funds Rules have been...more

Carlton Fields

SEC Penalties for Off-Channel Communications: Still Blowing in the Wind

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The SEC has increased its enforcement efforts against firms that are registered as broker-dealers and/or investment advisers for alleged violations of federal securities laws involving “off-channel communications.” Such...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter- October 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Mandelbaum Barrett PC

Spotlight On: Purchase and Sale of Promissory Notes

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Promissory notes play a critical role in financial transactions, serving as a written promise from a Borrower to pay a Lender a specified sum of money under agreed-upon terms. Understanding the intricacies of buying and...more

DLA Piper

REIT Tax News - October 2024

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Welcome to the October 2024 issue of REIT Tax News. Below, we take a look at five developments to read about in less than five minutes. 1. Loper Bright standard takes hold in Varian Medical case - In the landmark case of...more

Blake, Cassels & Graydon LLP

“Dual Track” Process: Maintaining Transaction Flexibility to Optimize Value

The ups and downs of the M&A and financing markets over the past few years, particularly in the emerging companies (EC) and venture capital (VC) sector, have demonstrated the importance of emerging companies and their...more

McGuireWoods LLP

Healthcare & Life Sciences Private Equity Deal Tracker: TPG Acquires Surescripts

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TPG has purchased a majority stake in Surescripts, according to a news release....more

Hogan Lovells

Understanding the proposed changes to the delisting process under the Second Future Financing Act

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On 27 August 2024, the German Federal Ministry of Finance published the draft for the so called Second Future Financing Act (Zweites Zukunftsfinanzierungsgesetz – ZuFinG II). This proposal builds on the First Future Financing...more

BCLP

The FCA’s Commitment to “test and Use” Its Powers Pays Off in FCA v Bluecrest Capital

BCLP on

The recent decision by the Court of Appeal in FCA v BlueCrest Capital Management [2024] EWCA Civ 1125 reverses the Upper Tribunal’s decision in BlueCrest Capital Management (UK) LLP v FCA [2023] UKUT 00140 (TCC) (which we...more

Troutman Pepper

Fiserv Nets Special Banking Charter in Georgia

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The Georgia agency approved the Credorax application, but card networks refused to work with that company, said James Stevens, co-leader of the financial services industry group at the law firm Troutman Pepper....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

BAE wins forfeiture case

BAE Systems Inc. has won a class action lawsuit about misusing 401(k) plan forfeitures. U.S. District Judge Anthony Trenga, of the U.S. District Court for the Eastern District of Virginia, granted BAE’s motion to dismiss...more

Orrick, Herrington & Sutcliffe LLP

CFPB issues advisory opinion on medical debt collection practices

On October 1, the CFPB issued an advisory opinion regarding medical debt collection practices and debt collectors’ obligations under the FDCPA and Regulation F. The advisory opinion identified practices for which debt...more

Arnall Golden Gregory LLP

Preparing for the Digital Operational Resilience Act (“DORA”): Key Steps for Payments and Fintech Clients

The Digital Operational Resilience Act (“DORA”), an EU regulation designed to bolster the resilience of financial entities against Information and Communications Technology (“ICT”) risks, entered into force on January 16,...more

Vinson & Elkins LLP

Why CAMT I Get Away From You: Losing Applicable Corporation Status Under the Corporate Alternative Minimum Tax

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On September 12, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued long-awaited proposed regulations (89 FR 75062) (the “Proposed Regulations”) on the application of the...more

Morgan Lewis

Update: Russia Ends Involvement of Russian National Settlement Depository in Recordkeeping of Type C Account Russian Shares

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The president of Russia issued Decree No. 840 on October 2, 2024, prescribing that all Russian custodians transfer shares of Russian joint-stock companies held in Type C custody accounts from the National Settlement...more

Wilson Sonsini Goodrich & Rosati

Important Filing Deadline: The U.S. Corporate Transparency Act

As we approach the final quarter of 2024, we wanted to remind you of the rapidly approaching deadline for the new Beneficial Ownership Information (BOI) reporting requirements under the U.S. Corporate Transparency Act (CTA)....more

Orrick, Herrington & Sutcliffe LLP

FHFA releases NPRM on capital requirements for FHLBanks

On September 27, the FHFA released its NPRM and request for comment to amend capital requirements for FHLBanks to modify limits on unsecured credit extensions. The proposal seeks to exclude interest-bearing deposit accounts...more

Blake, Cassels & Graydon LLP

Garder le cap avec l’ACOR : Nouvelles lignes directrices sur les régimes de capitalisation et la gestion des risques

Le 9 septembre 2024, l’Association canadienne des organismes de contrôle des régimes de retraite (l’« ACOR ») a publié la ligne directrice no 3 – Ligne directrice pour les régimes de capitalisation (la « ligne directrice pour...more

Thomas Fox - Compliance Evangelist

The Chemical Show: Leadership’s Role in Compliance and Safety Culture with Tom Fox

Learn more about the transformative power of compliance and data in today's business landscape with guest Tom Fox, President of the Compliance Podcast Network. Host Victoria Meyer delves into the evolution of compliance...more

Orrick, Herrington & Sutcliffe LLP

FHFA reproposes amendments to its Suspended Counterparty Program

On September 18, the FHFA issued a second proposed rule to amend its Suspended Counterparty Program (SCP) regulation, following a review of comments on the initial proposal (covered by InfoBytes here). The SCP requires...more

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