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Key Developments in the 2017 Indian Legal Landscape

by Morgan Lewis on

Legal and regulatory developments in the country included changes to the foreign direct investment policy, changes to the foreign investment regime, and a new platform for sexual harassment complaints by employees. Labour...more

Insurance Topics We Will Be Watching in 2018

On its current course, this year could be both the best and the worst of times for insurance. The US economy continues to enjoy steady growth, stock indices continue to reach new highs and tax reform in the US allows both...more

10 Themes for 2018

Tax reform, shifting international dynamics, Trump administration goals and a potentially strong market for transactions all seem likely to impact business activity in 2018. Below are 10 areas to explore in our 10th annual...more

Congress Proposes National Directory of Beneficial Owners of Legal Entities

by Ballard Spahr LLP on

Congress is considering a new draft bill, the Counter Terrorism and Illicit Finance Act (“CTIFA”), currently in committee in the Senate.  The CTIFA proposes the most substantial overhaul to the Bank Secrecy Act (“BSA”) since...more

Bridging the Week - January 2018 #3

SEC Not Feeling Groovy About Cryptocurrencies – Tells Registered Investment Funds: Slow Down, You Move Too Fast: The Securities and Exchange Commission’s Division of Investment Management issued a letter to two industry...more

Vietnam's New Solar PPA: Strong Developer Interest Despite Bankability Concerns

by Jones Day on

The Situation: Vietnam's draft model power purchase agreement ("Model PPA") for solar power projects issued in April 2017 departed from international market practice and fell short on bankability. The Action: Vietnam has...more

Day 23 of 31 Days to a More Effective Compliance Program-Updates and Feedback

by Thomas Fox on

One of the critical elements found in the Evaluation of Corporate Compliance Programs (Evaluation) is the need to use the information you obtain, whether through risk assessment, root cause analysis, investigation, hotline...more

Delegated Regulations Under MiFID II Directive and BMR Published in OJ

The following Delegated Regulations were published on January 17, 2018 in the Official Journal of the EU (OJ): Commission Delegated Regulation (EU) 2018/63, which amends Delegated Regulation (EU) 2017/571 supplementing the...more

Corporate and Financial Weekly Digest, Featuring Topics on Broker-Dealer, Derivatives, CFTC and UK/Brexit/EU Developments

BROKER-DEALER - FINRA Requests Comment on Proposed Amendments to FINRA Rule 4521 and New Supplemental Liquidity Schedule On January 8, the Financial Industry Regulatory Authority (FINRA) requested comment on proposed...more

Implementing CAATSA Sanctions on Russia: Approaching Deadlines for “Oligarchs” and “Sovereign Debt” Reports and Recap of Latest...

• The next significant Countering America’s Adversaries Through Sanctions Act (CAATSA)-related deadline for the Trump administration is January 29, 2018, when it must submit reports to Congress on “oligarchs and parastatal...more

CFIUS Continues Focus on Information Security, Blocks Chinese Acquisition of MoneyGram

by Bass, Berry & Sims PLC on

- MoneyGram and Ant Financial mutually terminate $1.2 billion proposed merger - CFIUS’s concerns focused on cyber and information security - Scrutiny of buyers’ information security processes is likely to increase On...more

New U.S. Tax Law Leaves Non-U.S. Person Estate Tax Intact

by Jones Day on

Prior to the passage of the Trump Administration's new tax bill, many had speculated on two key possible impacts for non-U.S. person private wealth bank and brokerage clients—the elimination of the estate tax exemption...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A look at Amazon’s newest concept—Amazon Go—a convenience store that opens in Seattle today complete with “shelves of food” found at other stores (including Whole Foods) but with nary a cashier in sight....more

OFAC Issues Statement On Venezuelan Digital Currency

by Goodwin on

On Friday, the Office of Foreign Assets Control (OFAC) issued FAQ 551 stating that U.S. persons who deal in the prospective Venezuelan digital currency (the “Petro”) may be exposed to U.S. sanctions risk under Executive Order...more

FCPA Compliance Report-Episode 367, Jim Shields on using comedy for compliance training

by Thomas Fox on

Today I visit with James Shields, the Creative Director for Twist and Shout Communications, a UK company which creates training video using comedy as the touchstone. You can check out a selection of the company’s offerings on...more

Going to get paid in Venezuelan cryptocurrency? Not so fast.

by Kelley Drye & Warren LLP on

In December last year, Venezuelan President Nicolas Maduro announced that Venezuela would launch a cryptocurrency called “Petro” in an effort to ease the country’s serious economic woes and avoid U.S. sanctions. Maduro said...more

Day 22 of 31 Days to a More Effective Compliance Program- Assessing Compliance Internal Controls

by Thomas Fox on

In the Evaluation, Under Prong 9 Continuous Improvement, Periodic Testing and Review, it stated "Control Testing - Has the company reviewed and audited its compliance program in the area relating to the misconduct, including...more

Day 21 of 31 Days to a More Effective Compliance Program-Continuous Improvement in a Compliance Program

by Thomas Fox on

Under Hallmark Nine of Ten Hallmarks of an Effective Compliance Program as articulated in the 2012 FCPA Guidance, it stated, "Finally, a good compliance program should constantly evolve. A company's business changes over...more

Day 20 of 31 Days to a More Effective Compliance Program-Responding to Investigative Findings

by Thomas Fox on

There is nothing like an internal whistleblower report about a FCPA violation, the finding of such an issue or (even worse) a subpoena from the DOJ to trigger the Board of Directors and senior management attention to the...more

UK Prudential Regulation Authority Proposes MREL Reporting Requirements

by Shearman & Sterling LLP on

The Prudential Regulation Authority has published proposals which would require firms to report on their progress in meeting their minimum requirement for own funds and eligible liabilities (MREL) requirement. MREL is a...more

Exelco’s US Chapter 11 Case Dismissed in Favor of Belgian Proceeding

by Dechert LLP on

The Delaware Bankruptcy Court recently dismissed a Chapter 11 bankruptcy case pending before it and recognized, under Chapter 15 of the Bankruptcy Code, the debtor’s bankruptcy proceeding in Belgium. Exelco NV (“Exelco”), a...more

Third Circuit Holds Transfer from Non-Debtor Precludes Liability Under Delaware Fraudulent Transfer Law

In Crystallex Int'l Corp. v. Petróleos de Venez., S.A., Nos. 16-4012, 17-1439, 2018 U.S. App. LEXIS 95 (3d Cir. Jan. 3, 2018), the U.S. Court of Appeals held there could be no fraudulent transfer liability under the Delaware...more

Texas Taking the Lead in State Cryptocurrency Enforcement

by Jackson Walker on

While the SEC has worked over the last several months to provide meaningful guidance around the offer and sale of digital tokens, state securities regulators have now begun to take action, with Texas leading the way. In the...more

Focus on Restructuring Processes: CVAs and Liquidation in the context of Carillion

by Dechert LLP on

In recent months certain restructuring processes have gained quite some notoriety in press headlines in connection with a number of UK businesses. This article provides secured lenders with a brief recap on the key points to...more

Orrick's Financial Industry Week In Review

CFTC Approves Amendments to Rules on Intermediary Registration and Review of Adverse Actions - On January 9, 2018, the U.S. Commodity Futures Trading Commission (the "CFTC") approved final rules that update Parts 3 and 9...more

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