News & Analysis as of

Banks Foreign Banks

Orrick, Herrington & Sutcliffe LLP

DOJ charges Swiss Bank with fraudulent activity; settles with bank to suspend charges

On December 4, the DOJ announced a deferred prosecution agreement and charges, in the Southern District of New York, a Swiss bank, requiring approximately $122.9 million in restitution for defrauding the U.S. government and...more

Davis Wright Tremaine LLP

The Revisit: Our Take on the U.S. Banking Agencies' Regulatory Capital Revamp

On July 27, 2023, the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, FBAs) issued their long-awaited...more

WilmerHale

United States V. Danske Bank: New Theory of Liability for Violation of US AML Standards

WilmerHale on

This Article discusses the recent plea agreement between the United States and Danske Bank. It argues that the Department of Justice has advanced a new and evolving theory of liability for foreign banks that access the U.S....more

Barnea Jaffa Lande & Co.

Advantage to Israeli Banks When Self-Exercising a Deposited Pledge

A deposited pledge is an arrangement enabling lenders to receive efficient, inexpensive, and readily available collateral from borrowers to secure credit. However, the current legislative arrangement in Israel differentiates...more

Sheppard Mullin Richter & Hampton LLP

New York Courts Continue to Assert Personal Jurisdiction over Foreign Banks

On January 13, 2023, the New York State Commercial Division issued a decision in Bangladesh Bank v. Rizal Commercial Banking Corp., et al., Index No. 652051/2020, that continued New York courts’ tendency to assert personal...more

Wilson Sonsini Goodrich & Rosati

New U.S. Sanctions on Russian Banks and Elites, Expanded Export Controls, and Other Updates

The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC or the Treasury) unveiled a new wave of sanctions targeted against Russia, Russian entities, and Russian individuals during the week of April 4, in...more

BCLP

High Court hands down first ever merits judgment on international banking transfer rights under Lebanese law - Vatche Manoukian v...

BCLP on

Following the recent decision of the High Court, in which specific performance was ordered against two Lebanese banks in favour of our client, Vatche Manoukian, the Court has now handed down its fully reasoned judgment. ...more

BCLP

Funds held in Lebanon: UK consumer laws may help release them

BCLP on

The financial and humanitarian crisis in Lebanon continues to hit the headlines. Our commercial disputes team has been assisting English domiciled families with funds held in Lebanese banks to take expedited legal steps in...more

Troutman Pepper

Second Circuit Rules Plaintiffs' Securities Class Action Cannot Ride the Coattails of Foreign Bank's Regulatory Troubles

Troutman Pepper on

A recent decision out of the Second Circuit Court of Appeals sets limits on plaintiffs’ ability to transform regulatory violations into the basis for securities class actions. The decision further clarifies that issuers do...more

A&O Shearman

Important Arbitration Decision for Lenders

A&O Shearman on

Project Finance Lender Can Claim Directly Against State Under Investment Treaty - A recent decision of an arbitral tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes...more

Eversheds Sutherland (US) LLP

The DOJ issues its first FCPA advisory opinion after six years of silence

On August 14, 2020, the US Department of Justice (the DOJ) issued its first Foreign Corrupt Practices Act (FCPA) Opinion Procedure Release in six years, which relayed that it did not intend to pursue an enforcement action...more

McGlinchey Stafford

NYDFS FAQs Confirm Scope of COVID Mortgage Forbearance Law

McGlinchey Stafford on

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

A&O Shearman

Specific Regulatory and Governance Challenges of European Banks Operating Across Multiple Jurisdictions

A&O Shearman on

European banks operating across multiple jurisdictions face a set of specific regulatory challenges, including...more

White & Case LLP

COVID-19 Response: US Federal Regulatory (Updated April 28, 2020)

White & Case LLP on

In response to the global COVID-19 crisis, US federal financial regulators are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US and global...more

Goodwin

Financial Services Weekly News: Financial Regulators Respond To Coronavirus Outbreak

Goodwin on

In This Issue. The ongoing global outbreak of the coronavirus (COVID-19) continues to grow in scale and scope, creating public health and humanitarian challenges worldwide. Global economies are also being impacted. Federal...more

A&O Shearman

Indonesia introduces new regulation to facilitate the transformation of foreign bank branches into subsidiaries and refine M&A in...

A&O Shearman on

The OJK introduced new regulation to facilitate the transformation of foreign bank branches into subsidiaries and address certain existing uncertainties in executing bank M&A. The key change is the introduction of branch...more

White & Case LLP

Financial Regulatory Observer - December 2019: Tailored enhanced prudential standards for non-US banks

White & Case LLP on

Since the 2008 financial crisis, a non-US bank seeking to establish or maintain a US presence has been required to comply with a set of stringent regulatory requirements, but a recently adopted rule (Final Rule) limits their...more

Orrick - Finance 20/20

Agencies Complete Resolution Plan Evaluations and Extend Deadline for Certain Firms

The Federal Reserve Board and the FDIC completed their evaluation of 82 foreign banks’ 2018 resolution plans, which describe a company’s strategy for rapid and orderly resolution in the event of bankruptcy....more

A&O Shearman

US Federal Reserve Board, OCC and FDIC Expand 18-Month Examination Cycle for Small Banks and Branches and Agencies of Foreign...

A&O Shearman on

The U.S. Board of Governors of the Federal Reserve System, U.S. Office of the Comptroller of the Currency and U.S. Federal Deposit Insurance Corporation jointly issued an interim final rule and request for comment to expand...more

Sullivan & Worcester

What Does the Dodd-Frank Relief Bill mean for Enhanced Prudential Standards for Foreign Banks?

Sullivan & Worcester on

On May 23, Congress passed a bill to revise Dodd-Frank to reduce regulatory burdens on banks. Just as with the original Dodd-Frank Act, the real work will have to be done by the banking agencies and thus months will have to...more

Proskauer Rose LLP

Fed Adopts Final Rule Regarding Contract Termination Provisions for Repos, Stock Loans and Swaps with Systemically Important Banks

Proskauer Rose LLP on

On September 1, 2017 the Federal Reserve voted to adopt a final rule requiring U.S. global systemically important banking institutions ("GSIBs") and the U.S. operations of foreign GSIBs to amend qualified financial contracts...more

Dechert LLP

Federal Reserve Board Announces Proposed Changes to Bank Board Expectations

Dechert LLP on

The Board of Governors of the Federal Reserve (FRB) on August 3, 2017 issued a notice inviting comment regarding Proposed Guidance on Supervisory Expectations for Boards of Directors (Proposal). The Proposal applies to boards...more

Sullivan & Worcester

Object Lesson on How Not to Respond to Consent and Enforcement Actions

Sullivan & Worcester on

Last week, the DFS announced an enforcement action and charges against the NY Branch of Habib Bank, a Pakistani bank that had been doing business in NY for almost 40 years....more

Dechert LLP

Update on Regulatory Initiatives Regarding the Volcker Rule

Dechert LLP on

As the general conformance period for banking entities to comply fully with Section 13 of the U.S. Bank Holding Company Act (Volcker Rule) and its implementing regulations (Volcker Regulations) ended on July 21, 2017, two...more

Jones Day

Volcker Rule Reform Begins

Jones Day on

The Situation: The Volcker Rule's complexity has created uncertainty and compliance burdens that adversely affect market liquidity, risk hedging, and other economically important activities. The Opportunities: Bank...more

148 Results
 / 
View per page
Page: of 6

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide