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Troutman Pepper

Proposed Legislation in Louisiana Aims to Regulate Commercial Financing Transactions

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On March 1, Senate Bill (SB) 335 was introduced, which, if passed, would impose certain requirements on “commercial financing transactions.” Recently, multiple states have enacted disclosure regulations for commercial...more

White & Case LLP

Sector trends - September 2023: Brokers/Corporate Finance

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Pan-European banks, including Mediobanca and Deutsche Bank, seek senior dealmaker bench strength through high profile acquisitions....more

Foley & Lardner LLP

SEC Proposed Safeguarding Rule

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On February 15th 2023, the Securities and Exchange Commission (the “SEC”, or the “Commission”) proposed a new safeguarding rule. Comments must be received by the SEC on or before 60 days after the rule’s publication in the...more

Goodwin

SEC Stays Busy With Amendments And Extensions To Various Rules, Definitions And Disclosures

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In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more

Dechert LLP

What Did the DOL Just “Rollover” (and Roll Out)? – “A Primary Basis” for Understanding the New Proposed ERISA Exemption and...

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The U.S. Department of Labor (the “DOL”) on June 29, 2020 issued a release (the “Release”) proposing an important new initiative for retirement accounts (“Plans”) that are subject to the Employee Retirement Income Security...more

Bradley Arant Boult Cummings LLP

Four Additional States Issue New Guidance Relating to Working from Home; Massachusetts and New York Supplement Previous Guidance

As we continue to follow the trend of regulatory agencies providing guidance allow working from home for financial services professionals while the COVID-19 outbreak progresses, we summarized the additional guidance issued in...more

Sheppard Mullin Richter & Hampton LLP

Spoofing Enforcement Intensifies

U.S. regulators, in particular the Commodity Futures Trading Commission (“CFTC”), are intently pursuing market manipulation enforcement. The September 30 end of the 2019 fiscal year brought with it a flurry of press releases...more

Robins Kaplan LLP

Financial Daily Dose 10.18.2019 | Top Story: Unpacking the UK/EU Brexit Deal and Its Rocky Road Ahead in Parliament

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Details are trickling in on the tentative Brexit agreement reached between UK and EU negotiators this week, just 14 days ahead of the Halloween departure deadline.  A massive sticking point here remains the British...more

Foley & Lardner LLP

NY Financial Services Companies’ 2017 Resolution: Cybersecurity

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The New York State Department of Financial Services (DFS) made headlines back in late September with a “first-in-the-nation” piece of legislation aimed at mandating specific cybersecurity protocols for banks, insurance...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Financial Stability Board—that Swiss-based grand collection of central bankers and regulators from the world’s biggest economies—has upped the systemic importance ranking for three of America’s biggest banks, including...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Wells Fargo is well past the rain, the pouring, and even the flooding. So why not possible liability for its RMBS practices? As part of an SEC disclosure, the bank acknowledge that it’s “in discussion” with the RMBS Working...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more

Morrison & Foerster LLP

Narrowing of Licensing Exemption Under California Finance Lenders Law for Consumer Lenders and Brokers

The California Department of Business Oversight (the “CDBO”) has issued a new regulation that will eliminate a statutory licensing exemption under the California Finance Lenders Law (the “CFLL”) for nonbank operating...more

Davis Wright Tremaine LLP

CFPB Hearing on Arbitration Agreements: Initial Impressions

DWT recently attended a CFPB field hearing on arbitration agreements relating to consumer financial products or services. The CFPB conducted the hearing in conjunction with the agency’s publication of an outline of proposals...more

Ballard Spahr LLP

Montana Temporarily Reduces Licensing Renewal Fees

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Montana has adopted a temporary rule to reduce certain licensing renewal fees by 50 percent for the period of January 1, 2016 through December 31, 2016. The Department of Administration believes that adopting the Uniform...more

Partridge Snow & Hahn LLP

New Rhode Island Banking Regulations to Promote Uniformity

Rhode Island has repealed certain banking regulations and replaced them with new regulations in order to promote uniformity. Banking Regulations 98-14 “Licensees”, 98-14.1 “Lenders and Loan Brokers”, and 98-14.4 “Check...more

Goodwin

Financial Services Weekly News Roundup - February 2015 #4

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FDIC Study Shows Branch Banking Has Staying Power: Has your smartphone displaced your bank? According to an FDIC study released on February 19, traditional brick-and-mortar offices are maintaining their primacy, despite...more

Skadden, Arps, Slate, Meagher & Flom LLP

"FinCEN Proposes Tighter Customer Due Diligence Requirements for Financial Institutions"

For financial institutions, customer due diligence may become tougher and costlier in 2015 if the Financial Crimes Enforcement Network's (FinCEN) latest proposed rule is finalized in its current form. On July 30, 2014, FinCEN...more

Manatt, Phelps & Phillips, LLP

Digital Currency Corner - What FinCEN’s Denial of Payment Processing Exemption for Virtual Currency-Related Businesses Means for...

Why it matters - The rapid evolution of virtual and digital currencies has spawned significant activity in several federal agencies with implications potentially for traditional entities in certain cases. In addition to...more

Dorsey & Whitney LLP

Broker, Two Employees Alleged to Violate SEC Market Access Rule

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The Commission’s inspection program, conducted by the Office of Compliance Inspections and Examinations or OCIE, has been the source of a number of enforcement actions. One example is the recently filed case against dark pool...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review for March 10, 2014

Final Guidance for Medium-Sized Firms on Dodd-Frank Stress Tests - On March 5, the Fed, the FDIC, and the OCC issued final guidance which describes supervisory expectations for stress tests to be conducted by financial...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume IX, Issue 6

In this issue: - SEC Division of Corporation Finance Issues Guidance on Rule 506(c) Private Placements - SEC Issues No-action Relief Regarding Registration of M&A Brokers - CFTC Issues Guidance on New...more

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