It’s official. The UK’s cap on bankers’ bonuses has been lifted. There are some opportunities for firms here, but it shouldn’t mean a return of excessive risk taking....more
The annual IFN UK Forum 2023 was held in London in September 2023 and, once again, was a well-attended event, giving attendees a chance to connect and reconnect with colleagues, clients and friends alike from all over the...more
Private equity investment in healthcare reached an all-time high in 2022, with reports putting the overall deal value at a staggering $151 billion. But 2023 is shaping up to be a very different year, with investors pulling...more
As highlighted in our recent article, the Chancellor has proposed an end to the bankers ‘bonus cap’ introduced in 2014. Set out here are some early thoughts on the challenges banks might face if this were to happen and the...more
Most restructuring professionals will tell you that there is no “typical” restructuring. That is absolutely true. Every financially distressed business is different and the character and direction of its restructuring will be...more
2020 was a year like no other – and the M&A environment was no exception. Join our panel of leading M&A experts who will share experiences navigating successful 2020 M&A deals, and forecast 2021 Q1 and Q2 deal trends and...more
Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law on June 17, 2020. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
The fintech industry has been changing rapidly. Digital assets, distributed ledger technology and central bank digital currencies are gaining momentum. Multi-trillion-dollar United States Federal Reserve System money creation...more
Several trade groups, including the American Financial Services Association, Nevada Credit Union League, and Nevada Bankers Association have filed a lawsuit challenging a new Nevada law aimed at allowing credit applicants...more
Equipment leasing presents a bank with an opportunity to open the door to new customer relationships and to satisfy its existing customer’s need to acquire the use of equipment. An understanding of the unique features of...more
In the UK, guidance to support the implementation of advanced standards for professional bankers was published on August 15, 2018. The guidance is in fact dated January 2018, the same date as the advanced standard which was...more
Sometime prior to 2009, a lawyer closed his law practice in South Carolina and moved to another state. Unfortunately, his ghost remains in South Carolina, providing cautionary tales this Christmas season for all lawyers....more
Background - On June 9, 2017, key provisions of the fiduciary rule adopted by the Department of Labor (DOL) will become applicable for most broker-dealers, as well as many bankers, insurance agents, and others who make...more
Should banks, while guarding against rolling episodes of misconduct by bankers, have the ability to blackball employees from the banking industry? A “bad apples” database of bank employees who have acted improperly in prior...more
In our last blog post, we highlighted the benefits of retaining an investment banker for the sale of your family-owned business. As you might expect, investment bankers do not work for free. In today’s blog post, we outline...more
Yes. In almost all circumstances, the buyer (whether a strategic buyer or a financial buyer) will have more financial resources and will be more experienced in buying and selling businesses. Retaining an experienced and...more
In a joint release, Office of the Comptroller of the Currency, Treasury; Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation; Federal Housing Finance Agency; National Credit Union...more
On November 12, 2015, the European Banking Authority (EBA) published a follow-up report on the treatment of role-based allowances (Allowances) paid by banks to their staff. The EBA’s original, October 2014 report and opinion...more
With more than three decades of experience in banking in North Carolina and Virginia, Park Sterling’s CEO James C. Cherry has a lot to say about the state of community banks and their future. He graciously took the time to...more
The aftermath of the financial crisis saw regulators worldwide tighten rules and launch large-scale enforcement investigations, particularly directed at the banking sector. The U.K., notwithstanding the importance to it of...more
The International Financial Law Review (IFLR)’s Bankers’ Counsel Poll was compiled with Morrison & Foerster LLP. With input from partners Anna Pinedo and James Tanenbaum, poll questions were formulated. Using recommendations...more
The Federal Communications Commission’s (FCC) July 10, 2015 Declaratory Ruling and Order on the Telephone Consumer Protection Act (TCPA) was received by many in the business community with great concern. The Order’s seemingly...more
Q: You recently took the helm of Carolina Premier. What has been the biggest surprise to you in your new role as a CEO? What has been the biggest surprise about Carolina Premier? A: Well, bankers are known not to...more
The Financial Conduct Authority and the Prudential Regulatory Authority have recently been showing signs of gearing up for the new regime which is intended to have the effect of making senior bankers and other financial...more