News & Analysis as of

International Banks

Frederic Lalance Weighs in on FCPA Investigation Into Mozambique Maritime Security Deals

Frédéric Lalance, a partner in Orrick’s Paris litigation team and a member of the firm’s global Africa practice, recently spoke with Mozambique-based Zitamar News regarding an investigation by the U.S. Department of Justice...more

NBU amends currency legislation related to raising loans from IFIs (Ukrainian)

by Dentons on

Following the ongoing liberalisation of the currency control, the National Bank of Ukraine (“NBU”) adopted Resolution No. 88 dated 7 September 2017 (“Resolution”) (effective from 13 September 2017) simplifying the procedure...more

NBU amends currency legislation related to raising loans from IFIs

by Dentons on

The National Bank of Ukraine simplified requirements for raising loans from international financial institutions - Following the ongoing liberalisation of the currency control, the National Bank of Ukraine (“NBU”) adopted...more

Update: European Market Infrastructure Regulation Exemptions for Central Banks in Six Countries

by Shearman & Sterling LLP on

A Commission Delegated Regulation exempting central banks in six countries - Australia, Canada, Hong Kong, Mexico, Singapore and Switzerland - from complying with the European Market Infrastructure Regulation was published in...more

The World in US Courts: Orrick's Quarterly Review of Decisions Applying US Law to Global Business and Cross-Border Activities

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

Financial Services Weekly News - September 2016

by Goodwin on

Editor's Note - The OCC Takes Another Step Toward a Limited Purpose FinTech Charter. On September 13, in a speech at the Marketplace Lending Policy Summit 2016, Comptroller of the Currency Thomas J. Curry discussed the...more

Translating the success of UK fintech measures to the US

by White & Case LLP on

The successful growth of fintech within a region depends on myriad factors, but an unquestionably material one is the regulatory environment. Regulatory regimes that foster innovation and exercise oversight in a purposeful,...more

SWIFT CEO announces customer security programme

Following a series of thefts from international banks utilizing the Society for World Interbank Financial Telecommunication (SWIFT) communication system, the Chief Executive Officer of SWIFT announced a sweeping five part...more

Addressing AML Risks in the Era of Aggressive Enforcement

by Michael Volkov on

The resurgence in anti-money laundering enforcement in the last few years reflects the overall improvement in the banking industry and recovery from the financial collapse. Federal prosecutors and regulators have renewed...more

Agencies Propose Net Stable Funding Ratio Rule

On May 3, 2016, the Federal Deposit Insurance Corporation, the Federal Reserve and the Office of the Comptroller of the Currency proposed a rule, the net stable funding ratio (the “NSFR”), to strengthen banks by requiring...more

Federal Reserve Bank of New York Releases Report on Organization of Global Banks

by Shearman & Sterling LLP on

In early April, the Federal Reserve Bank of New York released a staff report entitled “Organizational Complexity and Balance Sheet Management in Global Banks,” which analyzes the evolution of banks from standalone...more

UK Financial Regulatory Developments - April 2016 #4

by Dentons on

BoE speaks on international banks - Sarah Breeden spoke on “taming” international banks and how, in particular, the risks these banks pose can be managed in the absence of a single global banking regulator. She looked at...more

Financial Regulatory Developments Focus - March 2016 #2

by Shearman & Sterling LLP on

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Basel Committee on Banking Supervision Proposes New Approach to Operational Risk

by Shearman & Sterling LLP on

The Basel Committee on Banking Supervision published proposals to revise the standards for operational risk for internationally active banks. The Basel Committee consulted in 2014 on a revised Standardized Approach to...more

SEC Settles Another Case Requiring Admissions

by Dorsey & Whitney LLP on

Admissions appear to be a focus of recent SEC settlements. Last week the agency required a political intelligence firm to admit the facts in its OIP as part of the settlement of an action alleging inadequate compliance...more

Bridging the Week - October 2015 #4

by Katten Muchin Rosenman LLP on

Proposed Automated Trading Rule by CFTC Likely to Follow Already Existing Best Practices; SEC Also Contemplating New Measures - In two speeches last week, Timothy Massad, Chairman of the Commodity Futures Trading...more

Observation 3.0: Frequently Asked Questions and Answers on the Volcker Rule and the Implications for Foreign Banks Investing in...

by Pepper Hamilton LLP on

1. Question: What is the Volcker Rule, and when does it take effect? Answer: The Volcker Rule was enacted into law as section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank...more

Managing Threats to Corporate Reputations (Part II of III)

by Michael Volkov on

Most companies do not adequately manage their reputations and the risks to their reputations. Too many companies are focused on “crisis” management, which is just another way to respond to a reputational risk that has already...more

Agencies Finalize Revisions to Advanced Approaches Risk-Based Capital Rule Applicable to Large International Banking Organizations

On June 16, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency finalized revisions to the regulatory capital rules adopted in June 2013 that apply to...more

CFTC Staff Issues No-Action Relief from Introducing Broker and Commodity Trading Advisor Registration to Persons Located Outside...

On June 4, the Commodity Futures Trading Commission’s (“CFTC”) Division of Swap Dealer and Intermediary Oversight (“DSIO”) issued a No-Action Letter stating that it will not recommend that the CFTC take action for failure to...more

Bridging the Week - March 2015 #2

FCA Sanctions Bank of Beirut, Former Compliance Officer and Former Internal Auditor for Providing Misleading Information Regarding AML Systems and Controls Remediation - The Bank of Beirut was fined GBP 2.1 million...more

Orrick's Financial Industry Week in Review

Bank of America and Merrill Lynch Settle RMBS Lawsuit with FDIC - On November 17, Bank of America and Merrill Lynch settled securities claims brought by the FDIC related to RMBS sold to United Western Bank. The FDIC,...more

Major Banks Agree to Temporarily Stay Swap Termination Under ISDA Protocol

The International Swaps and Derivatives Association, Inc., or ISDA, announced that 18 major global banks, referred to as G-18, have agreed to sign a new ISDA Resolution Stay Protocol. The Protocol was developed in...more

"Is the DOJ FCPA Enforcement Hegemony Dead?"

For nearly 15 years, the United States has had the worldwide corruption enforcement stage to itself, reaping billions of dollars in fines and settlement payments from companies that have acknowledged engaging in bribery in...more

Banking & Finance Litigation Update - Issue 77 (Global)

by DLA Piper on

In This Issue: - Domestic Banking - Domestic General - European Banking - European General - International Banking - International General - Excerpt from International General: 55....more

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