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Foreign Entities Financial Services Industry

Holland & Knight LLP

Chapter 15 Ruling by New York Bankruptcy Court Recognizes Debtor's "Synthetic" Restructuring

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Judge Michael Wiles of the U.S. Bankruptcy Court for the Southern District of New York issued a decision earlier this year that had the effect of recognizing under Chapter 15 of the U.S. Bankruptcy Code an English Scheme of...more

DLA Piper

Recent Settlement Demonstrates DOJ’s Focus on Foreign Entities Misrepresenting Anti-Money Laundering Compliance

DLA Piper on

The US Department of Justice (DOJ) has announced that Wall Street Exchange (WSE), a Dubai-based money exchange service provider, entered into a non-prosecution agreement (NPA) and agreed to pay more than $9.2 million to...more

Troutman Pepper Locke

FinCEN Publishes Updated FAQs Regarding CTA Filings for Dissolved Entities and Withdrawn Foreign Entities

Troutman Pepper Locke on

On September 10, the Financial Crimes Enforcement Network (FinCEN) published updated guidance in the form of new and revised frequently asked questions (FAQs), C.14-C.16 and G.4, regarding beneficial ownership information...more

Barnea Jaffa Lande & Co.

Regulation of Payment Services Law Comes into Effect

On June 6, 2024, the Regulation of Payment Services and Payment Initiation Law came into effect. Relevant entities may now submit license applications for providing payment and payment initiation services....more

Walkers

Cayman Islands - Company Law Amendments

Walkers on

The Companies (Amendment) Act, 2024 (the "Amendment Act") has been passed by the Cayman Islands Parliament. The Amendment Act is not yet in force. It will come into force by the making of a subsequent Cabinet order. ...more

A&O Shearman

UK Regulator Consults on Rules for Ring-Fenced Banks to Establish Overseas Entities

A&O Shearman on

The U.K. Prudential Regulation Authority is consulting on a proposed rule and policy changes relating to the establishment and maintenance of third-country branches and subsidiaries within ring-fenced banking groups. The...more

Morgan Lewis

Update: Russia Proposes Draft Legislation Allowing Nationalizing Assets from Persons Connected With ‘Unfriendly States’

Morgan Lewis on

Russia proposed a draft federal law on April 8 amending article 235 of the Russian Civil Code, which would allow the compulsory seizure of assets in cases stipulated by federal laws, and containing rules about such compulsory...more

Holland & Knight LLP

Upcoming BE-140 Benchmark Survey Mandates Response

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The U.S. Department of Commerce's Bureau of Economic Analysis (BEA) recently made several changes to the survey form for the mandatory BE-140 Benchmark Survey of Insurance Transactions by U.S. Insurance Companies with Foreign...more

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