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Finance & Banking Updates

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

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

FinCEN Issues FAQs Regarding Customer Due Diligence Requirements for Financial Institutions

by Weiner Brodsky Kider PC on

On April 3, 2018, FinCEN issued FAQs regarding customer due diligence requirements for financial institutions. FinCEN stated that the FAQs were issued to help covered financial institutions understand the scope of the...more

Consultation Process on Ipso Facto Insolvency Regulations Begins

by K&L Gates LLP on

In September 2017, the Australian government introduced the most significant reforms to Australia's insolvency regime for the past 30 years with the enactment of the Treasury Laws Amendment (2017 Enterprise Incentives No. 2)...more

Consumer Financial Services Reform in Year Two of the Trump Administration

by Baker Donelson on

The publicly traded banking sector increased its market value by almost 30 percent in the first year of the Trump Administration. In part, this was a product of an overall strong performance by the stock market, but it also...more

Brussels Regulatory Brief: April 2018

by K&L Gates LLP on

Antitrust and Competition - Substantial Assets Divestiture Needed to Secure Clearance for the Creation of a Company That Will Control More Than a Quarter of the World’s Seed and Pesticides Market - On 21 March 2018, the...more

Proposed TRID Title Insurance Clarification: Senator Warren Cries Wolf

by Reed Smith on

Recently, I came across an article written by Senator Elizabeth Warren entitled “Don’t Make Bad Bill on Bank Deregulation Worse.” In this article, the Senator warned against efforts by the House to add additional...more

Joint Committee of ESAs Report on Risks and Vulnerabilities in EU Financial System

The Joint Committee of the European Supervisory Authorities (“ESAs“) (that is, the EBA, EIOPA and ESMA) published its spring 2018 report (JC 2018 07) on risks and vulnerabilities in the EU financial system on April 12, 2018....more

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 EBA Regulation (Regulation 1093/2010) on April 12, 2018....more

Health Care Providers Beware: Consumer Finance Regulations Apply Medical Debt Collection

by Baker Donelson on

While the prosecution of consumer banks and other lenders is the type of federal regulation that typically makes the headlines, many of the same debt collection regulations also apply to the collection of medical debts....more

SIFMA’s New Data Aggregation Principles and What They Mean for the Financial Sector

Last week, the Securities Industry and Financial Markets Association (“SIFMA”), a trade group for the United States securities industry, issued a set of Data Aggregation Principles (“the Principles”). In general, data...more

Fannie Mae Updates Selling Guide to Allow Lender Contributions to Borrower Closing Costs and Prepaid Fees

by Weiner Brodsky Kider PC on

On April 3, 2018, Fannie Mae announced an update to its Single Family Selling Guide allowing lenders to contribute to borrower-paid closing costs and prepaid fees under specified conditions, and lenders can take advantage of...more

Don’t show clients you don’t care

by Ary Rosenbaum on

It’s one of the greatest lines in a movie and even my 11-year-old daughter knows it. Harrison Ford playing Richard Kimble finds the gun that Federal Marshal Samuel Gerard played by Tommy Lee Jones dropped in The Fugitive....more

FFIEC Releases Joint Statement on Cyber Insurance

by Weiner Brodsky Kider PC on

The Federal Financial Institutions Examination Council (FFIEC) members issued a joint statement on April 10, 2018, which provides awareness of the potential role cyber insurance can play in a financial institution’s risk...more

Federal Reserve Board Requests Comments on Proposal to Simplify Capital Rules for Large Banks

by Weiner Brodsky Kider PC on

On April 10, 2018, the Federal Reserve Board officially invited public comment on a Notice of Proposed Rulemaking which seeks to simplify capital rules for large banks by introducing a “stress capital buffer” (SCB)—the...more

FY2019 Massachusetts Budget Update: House Ways and Means Budget

On Wednesday, April 11, the House Ways and Means Committee proposed a $40.991 billion budget for FY2019 that represents an increase of $1.24 billion, or 3.1 percent, above FY2018 spending levels. The budget proposes $83...more

Cryptocurrencies & State Tax: Transactions with Virtual Currency

by McDermott Will & Emery on

To date, limited guidance on the taxation of cryptocurrencies has been released by tax authorities. Usage of cryptocurrencies in transactions creates significant ramifications concerning the determination of federal and state...more

Broker-Dealer Standard of Care: The SEC Enters the Fray

At an open meeting held earlier today, April 18, 2018, the SEC voted 4-1 to propose a package of rules, forms, and guidance designed to define a new “best interest” standard of care for broker-dealers dealing with retail...more

Anti-Corruption Enforcement: Analyzing the Enforcement Approaches of the US, the UK and France

by Bryan Cave on

Anti-Corruption enforcement is a top priority in France, the UK, and the US. Each of these countries has armed its enforcers with the enforcement tools necessary to investigate and prosecute corporations and individuals. Join...more

Financial Services Weekly Roundup - April 2018 #3

by Goodwin on

Editor's Note - Modest Proposals. Last week, federal banking regulators issued two proposals that would substantively amend certain regulatory capital regulations applicable to the nation’s largest banks. On April 10, the...more

IRS Issues Withholding Guidance on Transfers of Non-Publicly Traded Partnership Interests by Non-US Persons

by Morgan Lewis on

The Internal Revenue Service announces forthcoming regulations in relation to “ECI withholding” under Section 1446(f). It also announces interim relief and guidance for taxpayers pending regulations....more

SEC Staff Issues Risk Alert on the Six Most Frequent Fee and Expense Compliance Issues

by Proskauer Rose LLP on

On April 12, 2018, the SEC's Office of Compliance Inspections and Examinations ("OCIE") issued a risk alert listing the most common compliance issues concerning fees and expenses charged by SEC-registered investment advisers....more

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