Mondaq USA: Finance and Banking
On 29 March 2013, the Republic of Argentina proposed an alternative payment formula to the U.S. Court of Appeals for the Second Circuit that, if accepted, would allow Argentina to resolve litigation with creditors holding defaulted bonds.
The EU’s financial transaction tax is due to apply from the beginning of 2014.
On 15 March, the first six implementing measures of the European Market Infrastructure Regulation (EMIR) entered into force.
Lisa Haggarty and Keith Johnson of Deutsche Bank discuss the key role depositaries play in adapting to the AIFMD.
Fiona Le Poidevin, Chief Executive of Guernsey Finance, explains why the island remains one of the most respected domiciles for the alternative investment industry.
With the Eurozone still struggling to recover, Patricia White, of Legis Fund Services, outlines how Guernsey continues to grow.
Paul Richard of Willis Finex Global explains how the AIFMD will impact fund managers from an insurance and capital requirements perspective.
The Commodity Futures Trading Commission has issued final interpretive guidance on prohibitions on certain disruptive trading practices added by the Dodd-Frank Act.
The Office of Inspector General for the Department of Health and Human Services recently issued an updated Special Advisory Bulletin on the Effect of Exclusion from Participation in Federal Health Care Programs, an update that comes 13 years after publication of its initial Special Advisory Bulletin on Exclusion.
The Federal Reserve Board has adopted Regulation NN covering retail foreign exchange transactions of banks.
Recently, the SEC settled with the City of Harrisburg over violations of Rule 10b-5 in connection with material misstatements and omissions made by the City in its public statements and financial information, during a multi-year period.
The form of 2012 New Markets Tax Credit Allocation Agreement has been released by the Community Development Financial Institutions Fund.
In a decision significant for international banks doing business in New York, the Court of Appeals, New York’s highest court, unanimously held that a court cannot issue a "turnover order" against a bank.
•The guidance update makes clear that exemptive order compliance is likely to be a focus of upcoming SEC examinations.
The Office of Financial Research of the U.S. Department of the Treasury released a white paper authored by Douglas J. Elliott of the Brookings Institute, Greg Feldberg of the OFR and Andreas Lehnert of the FRB which the Authors state provides the first comprehensive survey and historic narrative concerning how macroprudential policies have been used in the U.S.
In an April 9, 2013 discovery order the U.S. District Court for the Southern District of New York ruled that the bank examination privilege did not protect documents containing certain sensitive communications between the OCC and the Bank of China related to the BOC’s anti-money laundering compliance performance.
Since the New York State Department of Financial Services began operations in late 2011, the agency appears to have lived up to its billing as an activist regulator of insurers and financial institutions.
FINRA issued Regulatory Notice 13-18 to provide guidance to firms on communications with the public concerning unlisted real estate investment programs.
Derivative product companies are structured financial entities that act as intermediaries for, or guarantors of, an affiliated entity under interest rate or FX derivatives with a non-affiliated counterparty.
For companies operating in the UK financial services sector, recent regulatory reform, greater access to justice and developments in collective action regimes are likely to change the litigation landscape.
Most Popular Recent Articles
The US Commodity Futures Trading Commission has recently granted last minute no-action relief from portions of the CFTC's swap reporting rules.
A number of Dodd-Frank compliance deadlines are quickly approaching for all users of swap contracts.
Some of the largest hedge fund managers will shortly make their initial filing for the Form PF, on August 29, 2012. This guide will recap on the previously announced and finalized Form PF obligations and provide an update on the most recent developments.
On January 17, 2013, the Internal Revenue Service (IRS) released 544 pages of final regulations implementing the provisions of the Foreign Account Tax Compliance Act.
The US IPO market produced 102 IPOs in 2012—a 5% increase from the 97 IPOs in 2011. Before drying up in mid-May, IPO activity was at its highest level for the comparable period in any year since 2007.
The EU’s financial transaction tax is due to apply from the beginning of 2014.
Standards for banking organizations regulated by the Federal Reserve for Retail Forex are generally comparable to rules adopted by other regulators
In the wake of the financial crisis, global regulators have endeavored to undertake significant regulatory reform of the swaps markets.
Goodwin Procter’s Private Investment Funds Practice issued a Goodwin Procter Alert that provides an update for non-European private fund managers on rules under the European Union Alternative Investment Fund Managers Directive.
On April 10, 2013, the Securities and Exchange Commission and the Commodity Futures Trading Commission jointly issued final rules and guidelines.
