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Finance & Banking Insurance

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Key Regulatory Topics: Weekly Update - 10 November 2017 – 16 November 2017

by Allen & Overy LLP on

BREXIT - UK Finance proposes model for post-Brexit financial services under EU-UK trade agreement - On 16 November, UK Finance published a report entitled "Supporting Europe's economies and citizens: a modern approach...more

Defence & Indemnity - October 2017: I. INSURANCE ISSUES A.

by Field Law on

I. INSURANCE ISSUES: A. Where an insured’s employee followed an email from a fraudster posing as a vendor to change the electronic payment instructions to an account controlled by the fraudster, coverage was denied under...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending November 3 & 10, 2017

by Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE TITLE INSURANCE UPDATE - Misrepresentation: developer entitled to directed verdict on claims of fraudulent and negligent misrepresentation asserted by condominium association...more

Key Regulatory Topics: Weekly Update - 3 November 2017 – 9 November 2017

by Allen & Overy LLP on

Allen & Overy publish weekly updates on key regulatory topics affecting the financial services sector. If you would like to receive this update by email please contact RegulatoryChange@allenovery.com. BREXIT - HoL EU...more

Exclusion Precludes Coverage for Bank’s $24M Settlement

In a blow to a bank that settled overdraft litigation for $24 million, the U.S. Court of Appeals, Seventh Circuit affirmed that the financial institution’s liability policy did not provide coverage for the deal....more

Kyiv Tax Newsletter (Ukrainian) - November 2017

by Dentons on

Implementation of the provisions set out in the Law will result in enhanced quality of the financial statements in Ukraine and will ensure the performance of Ukraine’s obligations pursuant to the Ukraine–European Union...more

Kyiv Tax Newsletter - November 2017

by Dentons on

The President of Ukraine signed the Law “On Introduction of Amendments into the Law of Ukraine ‘On Accounting and Financial Statements in Ukraine’ in Connection with the Improvement of Certain Provisions.” Implementation...more

UK: Launch of FCA Wholesale Insurance Broker Market Study

by Hogan Lovells on

The FCA has yesterday launched a market study into wholesale insurance broking practices. The FCA has published Terms of Reference for the study, which are discussed...more

Interval Alts and Insurance-Linked Securities

We are seeing Interval Alts (registered investment funds featuring hedge fund-like liquidity) being used for dedicated insurance-linked securities (ILS) strategies. ILS, such as catastrophe, or "cat," bonds, provide...more

Regulation Round Up - October 2017

by Proskauer Rose LLP on

3 October - The Prudential Regulator Authority (PRA) published a policy statement on strengthening accountability in banking and changes to senior managers regime (SMR) forms. The changes to the SMR forms will become live on...more

Second Circuit Clarifies New York Anti-Subrogation Law Prohibits Offsets For Settlements; Declares Plan’s Choice-of-Law Provisions...

The U.S. Court of Appeals for the Second Circuit has ruled that New York’s anti-subrogation statute, N.Y. Gen. Oblig. Law § 5-335(a), applies both to “offsets” for prospective benefit payments and to reimbursements for prior...more

UK: Corporate Insurance Newsletter – October 2017

by Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for October has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this...more

Treasury Report Addresses Regulatory Approaches Affecting Investment Companies and Their Advisers

by Pepper Hamilton LLP on

As required by President Trump’s Executive Order 13772, the U.S. Department of the Treasury issued a report, “A Financial System That Creates Economic Opportunities, Asset Management and Insurance,” addressing the regulatory...more

Real Property, Financial Services, & Title Insurance Update: Week Ending October 20, 2017

by Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE  TITLE INSURANCE UPDATE - Foreclosure: witness may testify as to business records of another company so long as that witness can lay proper foundation of personal knowledge...more

Key Regulatory Topics: Weekly Update - 20 October 2017 – 26 October 2017

by Allen & Overy LLP on

BREXIT - Brexit – HoC Treasury Committee launches inquiry into UK's economic relationship with the EU - On 20 October, the HoC Treasury Committee launched an inquiry into the UK's economic relationship with the EU. The...more

Title Insurance Covers That Foreclosure Problem, Right?

In the minds of many buyers of distressed properties at foreclosure sales, the existence of ANY title insurance policy relating to the property — even if the buyer is not the insured — is seen as a “cure-all” for anything...more

Helping Handbook for Those Affected by Northern California Wildfires

by Morrison & Foerster LLP on

This handbook provides an overview of some of the issues that individuals, families, and small businesses may face as a result of the wildfires that swept Northern California in October 2017. Please note that this handbook...more

District Of South Carolina Denies Motion To Dismiss Action Involving Fronting Relationship

by Carlton Fields on

Applying Delaware law, a South Carolina District Court found Plaintiff had properly pled its causes of action for breach of contract, breach of fiduciary duty, negligence/gross negligence and negligent misrepresentation...more

WATCH: What are the benefits and pitfalls of blockchain for the insurance sector?

by Hogan Lovells on

Imogen reviews how insurers can insurers and insureds can benefit from blockchain....more

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part III

In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing property damage and applying insurance proceeds in compliance with the terms of the standard mortgage...more

Who can sue for breach of the non-payment terms of a bearer note?

by Dentons on

Secure Capital SA (SC) was the owner of the entire beneficial interest in a series of notes issued by Credit Suisse (the Notes). The Notes were governed by English law and issued in bearer form. SC held its interest in the...more

Expect Focus - Life Insurance, Volume III - September 2017

by Carlton Fields on

EXPECTFOCUS® is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A. Please see full Publication...more

Expect Focus - Life Insurance, Volume III - September 2017

by Carlton Fields on

EXPECTFOCUS® is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A. Please see full Publication...more

New NYS Regulations Seek To Reign In Title Insurance Marketing Practices

by Morrison & Foerster LLP on

The New York State Department of Financial Services (DFS) has announced new regulations aimed at reforming various title insurance industry practices, including practices involving title company and agency marketing...more

Summary Judgment Win for Insurer in “Stable Value” Interest Rate Setting Case

by Carlton Fields on

In July, MetLife obtained a win in the Northern District of Illinois when the court granted summary judgment in its favor on a claim that it had breached the duty of good faith and fair dealing in setting interest rates for a...more

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