Everything Compliance-Episode 12
In recent years, the UAE has continuously updated its legal framework to enhance regulatory oversight and adapt to global financial trends. One significant development is the amended Federal Decree-Law No. 14/2018 on the...more
On March 5, the U.S. District Court for the Eastern District of Virginia dismissed a purported class action complaint in which plaintiffs alleged the defendant banks used “fictional” foreign exchange rates that deviated from...more
On 28 February, 1 March and 5 March 2022, the Russian President signed Decrees on special economic measures in connection with so-called "unfriendly" (as such term is used in the Decrees) actions by the USA and the foreign...more
On December 21, 2021, the U.S. Department of Justice (“DOJ”) announced a resolution of its criminal investigations into NatWest Markets Plc (“NatWest”), a global banking and financial services firm based in the United...more
Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. ...more
A sovereign nation’s decision to adopt Bitcoin as legal tender raises interesting questions — and legal ramifications. On June 8, 2021, El Salvador’s Legislative Assembly voted to establish Bitcoin as unrestricted legal...more
The hyperinflation that Venezuela suffers, and the collapse of the purchasing power of the bolívar soberano (successor of the bolívar fuerte, which was the successor in turn of the bolívar without qualification), have...more
The Central Bank of Venezuela (BCV) through Resolution No. 19-05-01, published in the Official Gazette of the Bolivarian Republic of Venezuela No. 41.624 on May 2, 2019, authorized the creation of "exchange desks," by means...more
Q4 Update: Overview of Cartel Investigations - Although 2018 saw guilty pleas and new indictments in several ongoing Department of Justice (DOJ) investigations, the year finished by continuing a downward trend in antitrust...more
Swiss pharma giant Novartis has issued a $3.9 billion cash bid to buy Advanced Accelerator Applications, a French company [and spinoff of the organization in charge of the Large Hadron Collider] known for producing...more
China’s infamous shadow banking industry—an $8.5 trillion marketplace that’s sprung up in reaction to the government’s “campaign against financial leverage”—is back and bigger than ever these days....more
News emerged in past weeks that North Korean hackers were likely behind the theft of $81 million from the central bank of Bangladesh. You can add to that an attack on more than 20 Polish banks and an attempt at other...more
Alien Tort Statute (ATS)/Torture Victims Protection Act (TVPA)/Anti-Terrorism Act (ATA) - District Court Dismisses ATS Claim Where Alleged Conduct in US Was Not Directly Linked to Injuries Claimed in Other Countries - ...more
Craig Steven Wright—the Australian who claims to be famed Bitcoin mastermind Satoshi Nakamoto—is not exactly being welcomed with open (and unquestioning) arms – NYTimes... Stocks came booming back yesterday after a tough...more
The Fed’s patience on rate hikes coupled with surging commodities prices (including oil over $40/barrel for the first time since December) helped push the Dow into positive territory for the year – WSJ... So apparently...more
The Federal Reserve is now tossing around a proposal that would “effectively place[] a cap on how much business banks can do with another bank or company”—the idea being to prevent the 2008-era mistake of Wall Street banks...more
Solid economic data helped propel US stocks yesterday, with the Dow posting an impressive 350-point gain – WSJ and Bloomberg... Honeywell has again dropped its merger overtures to United Technologies, a move UT...more
Friday’s jobs report was disappointing as compared to the month earlier, but it contained news of a half a percentage point increase in average hourly earnings that pleased some economists who have been worrying about...more
Recently, in Wright v. Commissioner, the United States Court of Appeals for the Sixth Circuit has reopened the question of the application of Section 1256 to foreign currency options (and also, possibly, to foreign currency...more
During 2014, the number of enforcement actions brought by federal banking agencies1 continued a downward trend that began in 2011. Federal banking agencies issued 661 formal enforcement actions, representing more than a 55...more