News & Analysis as of

Third-Party Service Provider Financial Regulatory Reform

A&O Shearman

DORA: Get ready, get set, take action

A&O Shearman on

The Digital Operational Resilience Act 2022/2554 (DORA) is a European regulation that will come into force on January 17, 2025. The regulation aims to strengthen the digital operational resilience of the financial sector...more

Seyfarth Shaw LLP

FinCEN's October 2024 Beneficial Ownership Information FAQ Update

Seyfarth Shaw LLP on

On October 3, 2024, the Financial Crimes Enforcement Network (FinCEN) issued new guidance concerning the Corporate Transparency Act (CTA) by updating and expanding on the Beneficial Ownership Information (BOI) Reporting...more

A&O Shearman

Joint EU Guidelines on Suitability of Management Body Members and Shareholders for Entities Under the Markets in Crypto-Assets...

A&O Shearman on

The European Banking Authority and European Securities and Markets Authority have published joint guidelines on the suitability of members of the management body, and on the assessment of shareholders and members with...more

Cadwalader, Wickersham & Taft LLP

Financial Conduct Authority Publishes Draft Voluntary Code of Conduct for ESG Ratings and Data Product Providers

On July 5, an industry-led working group convened by the UK’s financial regulator published a draft voluntary code of conduct for ESG data and ratings providers (the Code). The Code would apply to all companies based in the...more

Orrick, Herrington & Sutcliffe LLP

NYDFS revises proposed amendments to third-party debt collection rules

In December, NYDFS released revised proposed amendments to 23 NYCRR 1, which regulates third-party debt collectors and debt buyers. NYDFS first issued a proposed amendment to 23 NYCRR 1 in December 2021 ...more

Ballard Spahr LLP

Texas amends debt collection law to add new requirements for debt buyers

Ballard Spahr LLP on

On June 14, 2019, Texas Governor Greg Abbott signed HB 996, which amends Chapter 392 of the Texas Finance Code dealing with debt collection.  The amendments are effective September 1, 2019. ...more

Polsinelli

The CFPB’s Long Awaited Debt Collection Rule is Certain to Shake Up the Industry

Polsinelli on

On May 7, 2019, the Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking (the Proposed Rulemaking) to implement portions of the Fair Debt Collection Practices Act (FDCPA)....more

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