The Florida Division of Bond Finance published a notice (the Notice) on June 29, 2023, providing guidance on Florida House Bill 3 (HB 3), which was signed into law on May 2, 2023, by Gov. Ron DeSantis. HB 3, in part,...more
Popular app-based dating services—from Tinder to OkCupid to Grindr—are the subject of unwanted scrutiny this week after a report by the Norwegian Consumer Council that they’re “spreading user information like dating choices...more
Les Wexner, the billionaire CEO of Victoria’s Secret and Bath & Body Works parent company L Brands, has accused his former money manager and confidant, Jeffrey Epstein, of misappropriating “vast sums of money” from Wexner and...more
Division of Investment Management of the SEC Issues No-Action Letter to SSB - On May 8, 2018, the Chief Counsel's Office of the Division of Investment Management ("IM") of the Securities and Exchange Commission (the...more
In a catastrophic moment for South Africa, credit rating agency Standard and Poor (S&P) downgraded South Africa's credit rating to "junk status". S&P cut South Africa's credit rating by one notch to BB+, which is S&P's...more
Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more
Financial Industry Developments - The CFPB Publishes Final Rule for Prepaid Accounts - On October 5, 2016, the Consumer Financial Protection Bureau (the "CFPB") finalized comprehensive consumer protections for...more
SEC Adopts Rules for Enhanced Regulatory Framework for Securities Clearing Agencies - On September 28, 2016 the Securities and Exchange Commission ("SEC") voted to adopt new rules to establish "enhanced standards for the...more
In the first federal jury trial by the U.S. Securities and Exchange Commission (SEC) against a municipality or its officers, jurors found that the City of Miami, Florida (Miami or the City) and its former budget director...more
On October 1, DBRS published its U.S. RMBS rating methodology. On October 1, DBRS published its rating methodology for European consumer and commercial ABS transactions. On October 1, DBRS published its methodology for rating...more
CFTC Announces Proposal to Amend the Definition of "Material Terms" - On September 10, the U.S. Commodity Futures Trading Commission Division announced that it will publish in the Federal Register a proposed amendment to...more
This Glossary is designed to provide law students taking Securities Regulation with a tool that will assist them in learning the basic language of securities law and achieve a working knowledge of the fundamental principles...more
On July 28, DBRS published methodology for conducting operational risk assessments for U.S. asset-backed securities originators. On July 28, 2015, DBRS published methodology for conducting operational risk assessments for...more
The SEC’s administrative forum has been under increasing scrutiny over the past year. Now the SEC has removed an ALJ from a high-profile case, after he refused the Commission’s “invitation” to provide a no-bias affidavit in...more
The Financial Industry Regulatory Authority issued Regulatory Notice 15-16 to solicit comments on proposed amendments to FINRA Rules governing communications with the public. FINRA is proposing to amend FINRA Rule 2210 so...more
On February 18, DBRS released its methodology for assessing RMBS servicing advance transactions. On February 16, Fitch released its criteria for assessing covered bonds of European public entities....more
On September 23, DBRS published a request for comments for rating European Covered Bonds. The report described the DBRS criteria for rating all types of European covered bonds, whether issued under country-specific covered...more
On September 9, Moody’s released its methodology for rating consumer loan-backed ABS. On September 9, Fitch released its methodology for rating SHFA MBS Pass-Through bonds....more
Puerto Rico Recent Developments - The three major credit rating agencies, Standard & Poor's, Moody's, and Fitch Ratings, downgraded the Commonwealth of Puerto Rico's debt to "junk" status during the first two weeks of...more
On January 23, Fitch released its criteria for analyzing interest rate stresses in structured finance transactions and covered bonds. On January 22, DBRS released its methodology for rating wind power projects. On January 22,...more