News & Analysis as of

Systemically Important Financial Institution

Treasury’s Third Report on Financial System Regulation Focuses on the Asset Management and Insurance Industries

by Dechert LLP on

The U.S. Department of the Treasury (Treasury) recently released a report examining the regulatory framework for the asset management and insurance industries (Report). The Report is the third in a series of four reports that...more

Treasury Issues Report Proposing Changes to FSOC Designation Process

On April 21, 2017, President Trump issued a Presidential Memorandum directing the U.S. Department of the Treasury to evaluate and make recommendations on the Financial Stability Oversight Council’s (FSOC) designation process....more

Bipartisan Support for Financial Regulatory Relief Bill

by Shearman & Sterling LLP on

Mike Crapo, chairman of the US Senate Committee on Banking, Housing, and Urban Affairs, introduced the Economic Growth, Regulatory Relief and Consumer Protection Act which would introduce significant financial regulatory...more

Senators Announce Bipartisan Deal to Ease Banking Regulations

by Reed Smith on

On November 13, 2017, Senate Banking Committee Chairman Mike Crapo, along with several Democratic senators, announced an agreement on bipartisan financial reform legislation. The proposed legislation aims to lower the number...more

Dodd-Frank Reform Efforts Intensify

by K&L Gates LLP on

On November 16, Senate Banking Committee (“SBC”) Chairman Mike Crapo (R-ID) introduced S. 2155, the “Economic Growth, Regulatory Relief and Consumer Protection Act,” long-awaited Senate legislation designed to foster economic...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As we’ve been expecting, the DOJ announced yesterday that it was suing to block AT&T’s $84.5 billion bid for Time Warner over antitrust concerns....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As retailers do all they can to fight the e-commerce wave, some bricks-and-mortar shops are experimenting with a rather counterintuitive strategy: smaller spaces and a showroom-style approach....more

Financial Services Weekly News - November 2017

by Goodwin on

Editor's Note - In This Issue. The U.S. House of Representatives approved the Senate’s 2018 budget resolution, potentially paving the way for tax reform; the U.S. Securities and Exchange Commission (SEC) issued three...more

UK Tax Round Up - October 2017

by Proskauer Rose LLP on

UK Tax News and Developments - Government White Paper on Customs Bill - On 9 October, the Government published a White Paper setting out its approach to the introduction of a new customs and VAT regime after the UK...more

And Then There Was One: US FSOC Rescinds AIG’s SIFI Designation

by Dechert LLP on

The Financial Stability Oversight Council (FSOC) on September 29, 2017 issued a determination rescinding its prior designation of American International Group, Inc. (AIG) as a systemically important financial institution...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Travis is still kicking around at Uber, and he made that quite clear late last week by using his “outsize voting rights” to name two directors to the 8-member board ahead of a vote to reduce Kalanick’s voting power at the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The ‘book is backing off of a 2016-proposed stock reclassification that “would have solidified Mark Zuckerberg’s control over the social network” after a shareholder suit that would have seen Zuck on the stand in a Delaware...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Uber’s got more than a spot of bother on its hands in London after this morning’s announcement that the company’s largest market in Europe won’t renew the ride-hailing service’s license to operate in the city (citing “a lack...more

Newly Adopted Fed Rules Will Limit Buy-Side Remedies in a Financial Institution Failure

by Ropes & Gray LLP on

The Board of Governors of the Federal Reserve System (the “Board”) has adopted final rules1 that represent a significant shift in the terms of over-the-counter derivatives, repurchase and reverse repurchase transactions and...more

Federal Reserve Board Announces Proposed Changes to Bank Board Expectations

by 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

Financial institutions M&A: Insurance

by White & Case LLP on

Current market: - Upward - Favourable environment for insurance M&A including ongoing consolidation in the life insurance sector...more

Financial Services Weekly News - April 2017 #4

by Goodwin on

Editor's Note - State Regulators Sue OCC Over Federal FinTech Charter. On April 26, the Conference of State Bank Supervisors (CSBS) sued the Office of the Comptroller of the Currency (OCC) in the U.S. District Court for...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The new administration is working on a tax plan that would slash corporate tax rates to 15 percent and doing so with a hastiness that could jeopardize House Republicans’ ability to make the cuts permanent....more

Certain Companies that May be Subject to FDIC Orderly Liquidation Authority under Dodd-Frank are Now Subject to Qualified...

by Dechert LLP on

Companies that the Financial Stability Oversight Council (FSOC) believes may be subject to FDIC receivership under the Orderly Liquidation Authority contained in Title II of the Dodd-Frank Act, and certain of their...more

Dodd-Frank in a Trump Administration

by Carlton Fields on

During the recent campaign, President-elect Donald Trump pledged to repeal the Dodd-Frank Act (DFA) if elected, criticizing the regulatory burdens it imposed and contending that it discouraged lending by banks and impaired...more

US House of Representatives Passes Legislation Eliminating $50 Billion Asset Threshold for SIFI Designation

by Shearman & Sterling LLP on

The US House of Representatives passed a bill (H.R. 6392) that would replace the current supervisory framework under the Dodd-Frank Act that automatically subjects all bank holding companies with $50 billion or more in total...more

Bill Would Limit Applicability of Dodd-Frank Act to Certain Financial Institutions

by Jackson Lewis P.C. on

A bill in Congress would significantly amend the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111–203) to change what institutions might be designated a systemically important risk requiring additional...more

Big Regulatory Changes in Store for Funds and Advisers? No One Knows for Certain, but Here’s Our Best Guess

by Morrison & Foerster LLP on

While no one knows for sure what the future holds for investment management regulation, the tea leaves indicate that we may expect a slowdown on new regulations, some pullback on parts of the Dodd-Frank Wall Street Reform and...more

Financial Services Weekly News - December 2016

by Goodwin on

Editor's Note - OCC to Move Forward with Federal FinTech Charter. In a development foreshadowed in the April 6, June 29 and September 14 editions of the Roundup, on December 2, the Office of the Comptroller of the...more

President-elect Trump's potential priorities for insurance regulation

by Dentons on

Apart from a fundamental disagreement between the parties as to whether the Affordable Care Act ("ACA") should be repealed and replaced, insurance regulatory issues did not play a large role in the Presidential campaign. That...more

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