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Four-Term Governor Jerry Brown: One Last Budget

This week, California Governor Jerry Brown, beginning the final year of his unprecedented four terms as governor, unveiled his 16th and last state budget proposal, which projects a $6.1 billion surplus, mostly a result of...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

More trouble for the embattled British PM Theresa May. We learned yesterday that Britain’s second-largest construction firm—Carillion—was forced into liquidation after amassing a staggering $1.35 billion in debt. The downfall...more

CFPB and State Consumer Financial Protection Year in Review

In 2017 we saw the first significant resistance to and change in what had been uniformly aggressive action by the Bureau of Consumer Financial Protection to enforce consumer financial protection laws, with resistance and...more

ML Strategies Outlook: Health Care

“We’re going to have to get back next year at entitlement reform, which is how you tackle the debt and the deficit” Paul Ryan, Speaker of the House. Happy New Year!?! - 2017 was an eventful year for health care, and...more

DOJ Rescinds Obama-Era Guidance on Prosecutions of State-Legalized Marijuana Businesses and Service Providers

by Goodwin on

The U.S. Department of Justice (DOJ) today issued a memorandum in which it rescinded guidance issued during the Obama Administration related to the enforcement of the Controlled Substances Act, and related money laundering...more

MoFo New York Tax Insights - Volume 9, Issue 1

by Morrison & Foerster LLP on

THE TOP 10 NEW YORK TAX HIGHLIGHTS OF 2017 - As we look forward to an exciting new year, here is our annual list of what we viewed as the Top 10 New York Tax Highlights of 2017. 1. Appellate Division finds error in...more

Cannabis Chaos: Justice Department Revokes Obama-Era Guidance on Marijuana Enforcement

by McDermott Will & Emery on

On January 4, 2018, Attorney General Jefferson B. Sessions announced, in a memorandum to all US Attorneys, the immediate revocation of five Obama Administration policies on federal marijuana enforcement, including Guidance...more

The Impact of Tax Reform on Michigan Municipalities and School Districts

by Miller Canfield on

The U.S. House and Senate have approved the reconciled tax reform bill that was reported out of the House and Senate Conference Committee last week. The bill was passed on Dec. 20, 2017, and has been sent to the President for...more

Investment Services Regulatory Update - December 2017

by Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts - NEW RULES - SEC Delays Form N-PORT EDGAR Filing Requirement by Nine Months - On December 8, 2017, the SEC adopted a temporary rule (the Temporary Rule) delaying by...more

State and Local Governments Prepare to Fill the Consumer Regulatory Enforcement Void

by Hinshaw & Culbertson LLP on

Last week, the Democratic Attorneys General sent a letter to President Trump expressing concern over his choice for CFPB director, Mick Mulvaney and the future of consumer protection, more generally. As was expected, the...more

The Battle Over CFPB Leadership Continues

Although the first round in the battle over leadership of the Consumer Financial Protection Bureau went to President Donald Trump’s pick for the position, the fight continues, leaving the CFPB’s ongoing work very unsettled....more

Landmark Colorado Supreme Court Decision Provides Clarity for Metropolitan Districts

On Monday, the Colorado Supreme Court issued its opinion and ruling in UMB Bank v. Landmark Towers Association, 2016SC455, holding that a challenge to the results of a TABOR election brought by a homeowner’s association years...more

HUD rolls back PACE financing in single family FHA deals

by Ballard Spahr LLP on

In July 2016 HUD issued guidance on the use of Property Assessed Clean Energy (PACE) assessments for single family properties with FHA-insured mortgages. In January 2017, HUD followed with guidance on the use of PACE...more

Financial Services Report – Winter 2017

by MoFo Reenforcement on

EDITOR’S NOTE - The holidays came early for the financial services industry. First, the Senate voted to repeal the CFPB’s rule banning class waivers in arbitration agreements in consumer financial contracts. Then,...more

Battle of Acting Directors: Round One to Mulvaney

Earlier this week, a federal judge refused to grant a temporary restraining order preventing Mick Mulvaney from assuming the reins of the Consumer Financial Protection Bureau (CFPB) as acting director....more

Japan Legal Update Volume 31 | November 2017

by Jones Day on

Labor & Employment - Japan's Ministry of Health, Labour and Welfare Requests Employer Associations to Prepare for the Conversion Rule - As April 1, 2018, will mark the fifth year since the "Rule on conversion of...more

It’s Official! DOL Finalizes Delay

by Morgan Lewis on

The Fiduciary Rule transition period is extended until mid-2019, with financial institutions having flexibility in complying with the impartial conduct standards during this period....more

SEC Enforcement Division Releases 2017 Annual Report as Industry Looks Ahead to 2018

by Dechert LLP on

Stephanie Avakian and Steven Peikin, the new Co-Directors of the U.S. SEC Enforcement Division (“Division”), released a report on November 15, 2017, summarizing the Division’s enforcement activity for the fiscal year ending...more

Retail payments oversight framework: Summary

by Dentons on

We previously provided a summary of the new federal oversight framework for retail payment systems (the Oversight Framework) proposed by the Department of Finance Canada (the Department) in a paper titled, “A New Retail...more

Trump’s CFPB Pick: Major Impact for Industry and Consumers?

If recent media reports are accurate, the president intends to name current Office of Management and Budget (OMB) Director Mick Mulvaney as acting director of the Consumer Financial Protection Bureau (CFPB). Whether or not...more

Federal court asked to decide who is CFPB Acting Director

by Ballard Spahr LLP on

Last Friday, November 24, effective at midnight, Richard Corday resigned as CFPB Director.  Earlier in the day, the CFPB issued a press release announcing that Mr. Cordray had named Leandra English, the CFPB’s Chief of Staff,...more

CFPB Director Richard Cordray Resigning

by Hinshaw & Culbertson LLP on

In news that is still breaking, the first and only Consumer Financial Protection Bureau director, Richard Cordray, has announced he will be resigning at the end of this month....more

New CFPB enforcement chief to be appointed

by Ballard Spahr LLP on

While an official announcement has not yet appeared on the CFPB’s website, it has been widely reported that Kristen Donoghue will be appointed the CFPB’s new Assistant Director of Enforcement, effective November 17, 2017. ...more

Prosecutor Kenneth A. Blanco Named as Incoming Head of FinCEN

by Ballard Spahr LLP on

The U.S. Department of Treasury has issued a press release naming Kenneth A. Blanco as the incoming Director of the Financial Crimes Enforcement Network, or FinCEN. ...more

Whistleblower reforms an update

by DLA Piper on

n 23 October 2017, the Government released for public consultation, an exposure draft of legislation designed to implement significant reforms to Australia's whistleblower regime for the corporate, financial and credit...more

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