News & Analysis as of

Financial Institutions Critical Infrastructure Sectors

Hughes Hubbard & Reed LLP

The EU Adopts Broad New Sanctions Against Russia, Including 17th and 18th Packages, and Belarus Sanctions Alignment Package

The European Council ended a highly active semester on the economic sanctions front with the adoption of its 17th and 18th economic sanctions packages (Russia Sanctions Packages or Sanctions Packages) against Russia for its...more

Cadwalader, Wickersham & Taft LLP

What’s in a Name? ASEAN Taxonomy Version 2 Released

On March 27, the Association of Southeast Asian Nations (ASEAN) Taxonomy Board (ATB), representing ASEAN finance sectoral bodies, released Version 2 of the ASEAN Taxonomy for Sustainable Finance. This follows Version 1, which...more

Cadwalader, Wickersham & Taft LLP

Beyond the Headlines – Three Global Banks Update Emissions Financing Reduction Targets

Between February 23 and March 3, three leading global financial institutions announced updated environmentally linked targets aimed at reducing by 2030 their financed emissions in carbon intensive sectors, including oil &...more

Cadwalader, Wickersham & Taft LLP

Singapore Moves Toward Finalizing Green Taxonomy with Final Public Consultation Period

Last month, Singapore’s Green Finance Industry Taskforce (GFIT) launched the final consultation period to finalize its Green and Transition Taxonomy (the “Taxonomy”). This is Singapore’s third public consultation on the...more

Cadwalader, Wickersham & Taft LLP

Yellen Calls on World Bank to Take Decisive Action on Climate Change

On February 9, 2023, Treasury Secretary Janet Yellen spoke at the Center for Strategic and International Studies, urging the World Bank to “evolve” and be “bolder and more imaginative” in its operational approach to tackling...more

Cadwalader, Wickersham & Taft LLP

Central Banks Should Consider Climate and Biodiversity Shocks When Stress Testing Financial Institutions

Sylvie Goulard, Deputy Governor of the Banque de France, the French central bank, stated in a speech on October 24 that central banks need to take more aggressive action regarding nature-related risk. She posited that...more

Miller Canfield

Preparing for Cyberattacks and Limiting Liability

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The U.S. government and military experts have been warning U.S. companies that Russia may launch significant cyberattacks against critical infrastructure, financial institutions and businesses in retaliation for the sanctions...more

Burr & Forman

FINRA Urges Firms to Heed CISA/FBI “Shields Up” Warning on Russia

Burr & Forman on

The regular “Weekly Update” email from the Financial Industry Regulatory Authority (“FINRA”) had an eye-catching warning February 16, urging broker-dealer member firms to heed the “Shields Up” cyber threat warning from the...more

Farrell Fritz, P.C.

If You See Something, Say Something: FinCEN Updates Advisory on Managing Ransomware Attacks

Farrell Fritz, P.C. on

In a few short weeks, the global loss attributable to cybercrime is expected to surpass $6 trillion.* Therefore, in an effort to protect financial institutions and consumers from further loss, agencies including the United...more

Cadwalader, Wickersham & Taft LLP

Financial Stability Oversight Council Issues Key Report Declaring Climate Change as an Emerging Threat to U.S. Financial Stability

On October 21, 2021, the Financial Stability Oversight Council (“FSOC”), established in 2010 by the Dodd-Frank Wall Street Reform and Consumer Protection Act to respond to emerging threats to the stability of the U.S....more

Pullman & Comley, LLC

Update on the Reconciliation Package: Municipal Bonding Priorities

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Pullman & Comley’s Public Finance tax attorneys are pleased to bring you the latest development on the budget reconciliation front as it relates to municipal bonding. Last Thursday, September 9, 2021, the House Ways and Means...more

Cozen O'Connor

U.S. Announces Sweeping New Sanctions Targeting Russia

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On April 15, 2021, President Biden issued Executive Order 14024 (the EO), imposing new sanctions on the Russian Federation in response to foreign election interference in the 2020 U.S. federal election and the SolarWinds...more

Orrick, Herrington & Sutcliffe LLP

New Sanctions Targeting Russia

President Biden issued a new Executive Order 14024 (“E.O. 14024”) on April 15, 2021, expanding sanctions against Russia. E.O. 14024 authorizes, for the first time, U.S. sanctions against Russian technology companies and,...more

Hogan Lovells

Biden Administration sanctions target Russian technology and defense sectors and Russian sovereign debt

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On 15 April 2021, the U.S. Government announced a number of new sanctions measures against Russia, targeting a variety of “harmful foreign activities” contrary to U.S. foreign policy. ...more

White & Case LLP

Eye on the future: The outlook for Asian infrastructure

White & Case LLP on

The future is bright for the asset class in the region. Here we explore investor' vision for the future - The pandemic has dealt a heavy blow to government budgets and containing the virus, and supporting households and...more

Hogan Lovells

Financial institutions general regulatory news, February 2021 # 3

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COVID-19: PRA statement on COVID-19 regulatory reporting amendments -On 5 February 2021, the UK Prudential Regulation Authority (PRA) has published a further statement on COVID-19 regulatory reporting amendments. ...more

K2 Integrity

Beneficial Ownership: Current Challenges Met with Opportunity

K2 Integrity on

Beneficial ownership is a topic which presents significant challenges to compliance officers charged with untangling a web of ownership interests that span numerous international jurisdictions and ownership structures. ...more

Bracewell LLP

Amid "Stay Home. Work Safe" Orders, Community Banks Remain Open for Business Under Designation as "Critical Infrastructure Sector"

Bracewell LLP on

On March 24, 2020, Harris County Judge Lina Hidalgo, in coordination with Houston Mayor Sylvester Turner, issued a mandatory “Stay Home. Work Safe.” order, effective at 11:59 pm March 24, to preserve public health and safety...more

Ballard Spahr LLP

Treasury Department’s 2020 National Illicit Finance Strategy: Aspirations for BSA/AML Modernization and the Combatting of Key...

Ballard Spahr LLP on

First in a Two-Post Series - The U.S. Department of Treasury (“Treasury”) has issued its 2020 National Strategy for Combating Terrorist and Other Illicit Financing (“2020 Strategy”)....more

Robins Kaplan LLP

Financial Daily Dose 12.09.2019 | Top Story: States Begin Trial Today Challenging T-Mobile/Sprint Merger on Antitrust Grounds

Robins Kaplan LLP on

Thirteen states and the District of Columbia are suing to block the $26 billion plan to merge T-Mobile US Inc. and Sprint Corp. The trial is slated to begin today with state officials arguing the deal would create “a more...more

A&O Shearman

International Cyber Task Force Reports on Cyber Regulation

A&O Shearman on

The International Organization of Securities Commissions has published the final report of its Cyber Task Force on cyber regulation. The report sets out how IOSCO member jurisdictions apply three recognized cyber frameworks -...more

Robins Kaplan LLP

Financial Daily Dose 6.7.2019 | Top Story: Markets Keep Eye on US Jobs Report

Robins Kaplan LLP on

Jobs Report Friday again! Lots to look for in the numbers this month, especially considering the economic uncertainty that’s defined the past few weeks....more

Hogan Lovells

Equator Principles – Sustainable Infrastructure Projects for Future Generations

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The construction and further development of infrastructure is of crucial importance for society and a healthy economy. But protecting the environment and human rights has also come to the forefront of the global agenda. ...more

Bracewell LLP

Federal Regulators Unveil Proposed Cybersecurity Standards for Large Financial Firms

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On October 19, 2016, federal regulators issued an Advance Notice of Proposed Rulemaking titled “Enhanced Cyber Risk Management Standards.” The draft standards, jointly released by the Federal Reserve, the Federal Deposit...more

Williams Mullen

[Event] 2015 Cybersecurity Seminar: Identifying and Mitigating Data Breaches and Related Liabilities - Oct. 29th, Richmond, VA

Williams Mullen on

October is National Cyber Security Awareness Month! Please join Williams Mullen, Marsh and EY for an in-depth discussion on effective strategies for identifying and mitigating data breach and related liabilities. WHO...more

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