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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

GAO states the obvious on disclosures and fees

The United States Government Accountability Office (GAO) released a report on the impact of Department of Labor Regulations (DOL)....more

Orrick, Herrington & Sutcliffe LLP

FDIC reports lowest unbanked rate since start of survey

On November 12, the FDIC released its biennial survey of unbanked and underbanked households revealing that the unbanked rate in the U.S. fell to a historic low of 4.2 percent in 2023. This rate decreased from 4.5 percent in...more

Blake, Cassels & Graydon LLP

CSA Proposes Access Model for Continuous Disclosure Documents of Non-Investment Fund Reporting Issuers

On November 19, 2024, the Canadian Securities Administrators (CSA) announced it is seeking feedback on proposed changes to implement an access model for annual financial statements, interim reports and related management’s...more

Orrick, Herrington & Sutcliffe LLP

FDIC’s Gruenberg discusses deposit insurance systems between the U.S. and EU

On October 29, FDIC Chairman Martin J. Gruenberg delivered a speech at Goethe University to discuss the experiences with deposit insurance and bank resolution in the EU and U.S. Gruenberg emphasized the benefits of a federal...more

Locke Lord LLP

OFAC Sanctions the Russian Financial ‎Sector Including ‎Gazprombank, and Issues New GLs and FAQs

Locke Lord LLP on

On November 21, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated Gazprombank, over 50 internationally connected Russian banks, more than 40 Russian securities registrars, and 15...more

Orrick, Herrington & Sutcliffe LLP

FDIC issues list of banks examined for CRA compliance for August 2024

On November 4, the FDIC issued its list of state nonmember banks recently evaluated for compliance with the CRA. The evaluations, covering ratings assigned in August 2024, assessed how well banks met the credit needs of their...more

Katten Muchin Rosenman LLP

UK Parliamentary Group Publishes “Hard-Hitting” Report on the FCA

The UK’s All-Party Parliamentary Group (APPG) on investment fraud and fairer financial services (a group of thirty Members of Parliament and a dozen members of the House of Lords) has published a press release and a...more

Orrick, Herrington & Sutcliffe LLP

District Court case on interchange fees moves forward with intervenor motion

Recently, the U.S. District Court for the District of North Dakota received a motion from two banking associations seeking intervenor status in a case challenging Regulation II, which regulates interchange fees received by...more

Jackson Lewis P.C.

Hybrid Workplaces + Regulatory Obligations: What FINRA Members Need to Know About the RSL Rule and Remote Inspections

Jackson Lewis P.C. on

As of June 1, 2024, FINRA member firms have been able to identify as a “Residential Supervisory Location” (RSL) a “private residence from which an associated person engages in supervisory functions,” so long as certain...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday November 27

Paul Hastings LLP on

November 26, 2024 - The Federal Reserve on Tuesday released the minutes of the Federal Open Market Committee meeting that was held on November 6–7, 2024. November 26, 2024 - The Federal Reserve Board published a working...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for October 2024

Morrison & Foerster LLP on

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •Accounting fraud charges for allegedly concealing costs; ...more

Bennett Jones LLP

CSA Seeks Comments on Proposed Access Model: Modernized Approach for Delivery of Continuous Disclosure

Bennett Jones LLP on

As an update to our previous blog posts, Greater Flexibility for Reporting Issuers: Access Equals Delivery and CSA Seeks Comments on “Access Equals Delivery” Model for Prospectuses, Financial Statements and MD&A, the Canadian...more

Mayer Brown

ESCs in Fund Employee Co-Investment Loan Programs

Mayer Brown on

EXECUTIVE SUMMARY - Fund sponsors may offer their employees and other investment professionals an opportunity to invest in its funds through a co-investment program, which a lender may partially finance....more

GeoDataVision

There’s a New Sheriff Coming to Town What are the Implications for CRA and Fair Lending?

GeoDataVision on

No sooner had President elect Trump’s win been announced that speculation began about the implications for bank regulations. “Trump Administration may upend banking industry,” proclaimed a headline in USA Today, while Yahoo...more

A&O Shearman

UK Financial Conduct Authority Consults on Further Temporary Changes to Handling Rules for Motor Finance Complaints

A&O Shearman on

The U.K. Financial Conduct Authority has published a consultation on further temporary changes to handling rules for motor finance complaints. The FCA explains that following the Court of Appeal's recent judgment on motor...more

A&O Shearman

Financial Reporting Council consults on the UK Stewardship Code

A&O Shearman on

On November 11, 2024, the Financial Reporting Council (FRC) published a consultation on proposed revisions to the UK Stewardship Code 2020 (the Code). The FRC recently published a consultation on proposed revisions to the...more

A&O Shearman

Trends in Dutch public M&A 2024

A&O Shearman on

Our latest report delves into the key trends and noticeable events that have shaped the dynamic Dutch public M&A landscape from January 1, 2023 to November 12, 2024. Key trends we want to highlight are: 1. Low deal...more

Alston & Bird

CFPB Finalizes Open Banking Rule on Consumer Financial Data Rights

Alston & Bird on

Our Financial Services Group unpacks the Consumer Financial Protection Bureau’s final rule on consumer financial data rights under Section 1033 of the Dodd–Frank Act....more

White & Case LLP

Robust refinancing activity bolsters high yield rebound

White & Case LLP on

High yield bond issuance in the US and Europe has made strong gains as issuers return to the market to refinance at more attractive rates - High yield bond markets in the US and Europe made strong gains through the first...more

McDermott Will & Emery

Key Takeaways | Family Offices: Evolution & Efficiencies

McDermott Will & Emery on

This session of the Private Client West Coast Forum 2024 focused on recent developments, including income tax planning to support investment performance, executive compensation planning, private placement life insurance...more

Skadden, Arps, Slate, Meagher & Flom LLP

National Payments Vision: A Strategic Blueprint for the Future of UK Payments

On November 14, 2024, the UK government unveiled its National Payments Vision (the Vision), a strategy designed to reshape the UK’s payments ecosystem. This Vision responds to the findings of the 2023 Future of Payments...more

A&O Shearman

Practical tips for large organisations to ensure reasonable procedures to prevent fraud are in place

A&O Shearman on

We distil key practical takeaways from the UK Government’s official guidance on the corporate criminal offence of failure to prevent fraud (the Guidance). Businesses and compliance teams will be working to review and...more

McDermott Will & Emery

#BakuBreakthrough? COP29 Sets a $300 Billion Goal as Part of a $1.3 Trillion Climate Finance Ambition

McDermott Will & Emery on

As we have previously reported over the last two weeks, the 29th Annual United Nations (UN) Climate Change Conference (COP29) focused heavily on climate finance and implementing key strategies for global emissions reduction,...more

SEC Compliance Consultants, Inc. (SEC³)

October and November 2024 Regulatory Roundup

After its fiscal year-end frenzy in September, the SEC relaxed slightly, with no new rule-making and fewer enforcement actions. So, I took a break last month and combined the October and November Roundups. (You’re welcome.)...more

Holland & Knight LLP

Florida District Court Clarifies "Communicating With" Consumers via Email Under FDCPA and FCCPA

Holland & Knight LLP on

A recent summary judgment decision in Nina Quinn-Davis vs. TrueAccord Corp., Case No. 1:23-cv-23590-LEIBOWITZ/REID (S.D. Fla. Nov. 20, 2024), addresses core merits issues in Florida Consumer Collection Practices Act (FCCPA)...more

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