Your Daily Dose of Financial News

by Robins Kaplan LLP

Notwithstanding Lloyd’s assurances that the rumors of his demise are premature, Goldman has cleared the path forward for David Solomon (aka, one of its current co-Presidents, aka, DJ D-Sol) to assume the CEO position when Mr. Blankfein’s tenure is wrapped – NYTimes and WSJ and Bloomberg

Just in case you thought we were overreacting with our Cfius focus last week, the Committee issued a letter to both Broadcom and Qualcomm over the weekend highlighting the national security concerns that it views as likely insurmountable obstacles to Broadcom’s hostile takeover bid – NYTimes and WSJ

Of course, who needs little-known Committees and hints about national security concerns when you’ve got a White House with executive orders that it’s ready to use – Bloomberg and NYTimes

File under: man, that guy looks familiar. The White House’s next economic adviser could well be CNBC commentator Larry Kudlow – NYTimes and WSJ

SDNY Judge Lorna Schofield has denied a motion by JPMorgan, BofA, and other big banks to dismiss a proposed Forex antitrust class action, finding that “the retail foreign currency buyers behind the suit had succeeded in pleading antitrust injury in their third crack at amending their complaint” – Law360

Streetwise suggests that, booming economy aside, it’s time to start paying attention to leveraged loans—especially as such lending has hit an all-time high of $1.6 trillion as of last year – WSJ

Meanwhile, in China, it’s consumer lending that’s dropping jaws, with Alibaba’s Ant Financial now managing more than $95 billion in consumer loans “even as the government reduces quotas for new asset-backed securities that can underpin such loans” – Bloomberg

Apple’s dropping some dough to purchase Texture, a digital magazine subscription service that’s been dubbed the “Netflix of magazines,” for an as-yet undisclosed amount – TheVerge and WSJ

The SEC has successfully converted its TROs into a preliminary injunction preventing AriseBank from moving forward with an initial coin offering that the agency has deemed “illegal and fraudulent” – Law360

A few blocks away, the Treasury Department has issued new guidance suggesting that issuers and investors in ICOs should—in most cases—comply with existing bank secrecy, know-your-customer, and AML laws – Bloomberg

China’s HNA Group is reportedly in talks to sell its 25% stake in Hilton’s timeshare business, just a year after it took a major position in the Grand Vacations biz – WSJ

Marketplace looks at JPMorgan’s deal for Bear Stearns, a decade down the road – Marketplace

As winter stretches into its 6th month here in the Bold North and another Nor’easter clobbers the east coast, let’s at least get some virtual relief with this look at sustainable living in Maui, shall we? [Honestly, anything green would do] – NYTimes

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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