Bank of America Tries Excuse They Often Scoff at in Fraud Suits Filed by DOJ, SEC
Our London Finance Team examine the issues UK and European commercial mortgage-backed securities (CMBS) servicers face when borrowers affected by the COVID-19 pandemic seek to negotiate amendments and waivers to their loan...more
As part of our periodic updates, here is an overview of recent developments of relevance to participants in the real estate finance market across certain key jurisdictions in Europe....more
Post-crisis commercial mortgage-backed securities ("CMBS") issuance in Europe has been on the slow-burner with only a handful of transactions each year. The year 2018 saw European "CMBS 2.0" experience something of a revival...more
The new framework should simplify the path for issuers seeking to market European covered bonds to investors in the US. Key Points: ..The new framework will create minimum product and technical standards for covered...more
SEC/CORPORATE - Implementation of Pay Ratio Disclosure Requirement Not Expected to Be Delayed - On September 15, at the ABA Business Law Section Annual Meeting, the Securities and Exchange Commission (SEC) Division of...more
As we begin to close in on the initial implementation of the Risk Retention Rule, we are looking beyond the headlines and trying to figure out how the Rule will actually work. The result is troubling....more
The Restructuring Mid-Summer Review: Europe and the Emerging Markets - For those focused on the debt restructuring market, the Greek sovereign crisis (covered extensively in our recent updates1) has drowned out news of...more
European Commission Unveils Tax Transparency Package - The European Commission has laid out its plans in a new Tax Transparency Package to clamp down on tax deals made between EU governments and multi-national...more
Fed Announces Dates of Stress Test Releases - On February 12, the Fed announced that results from the latest supervisory stress tests conducted as part of Dodd-Frank will be released on March 5, and the related results...more
On January 12, DBRS released its methodology for operational risk assessment for European structured finance servicers. On January 8, Moody’s revised its approach to rating single family rental securitizations....more
FCA has Published a Consultation Paper on Regulatory Fees and Levies for 2015/16 - ?On November 27, the Financial Conduct Authority (FCA) published for comment a consultation paper on its fees and levies as part of...more
FHFA Seeks Input on Single Security Structure for Fannie Mae and Freddie Mac - On August 12, FHFA published a Request for Input on the proposed structure for a Single Security that would be issued and guaranteed by...more
ESMA Reports on Information that Competent Authorities Should Provide to it Under the AIFMD - The European Securities and Markets Authority (ESMA), has published a final report of technical advice for the European...more
CFTC and EC Statement on Regulatory Framework - On February 12, the CFTC and the European Commission announced jointly that the two agencies have made significant progress in their collaboration on the regulatory...more
European Parliament Committee Publishes Opinion on Money Laundering Directive 4 - On January 7, the European Parliament published an opinion, written by its Committee on Legal Affairs (or JURI) relating to the...more
In This Issue: FHFA Limit on Fannie and Freddie Loan Purchases to Qualified Mortgage; Rating Agency Developments; MBIA and Bank of America Settle MBS Litigation for $1.7 Billion: Assured and UBS Agree to Settle RMBS...more
In This Issue: Financial Industry Developments: CFPB Proposed Clarifications on Qualified Mortgage Rules; SEC Credit Ratings Roundtable; FDIC Proposed Guidance on Deposit Advance Products; Rating Agency Developments; RMBS...more