News & Analysis as of

Jurisdiction Banking Sector

Walkers

Grand Court clarifies requirements for leave to proceed with a counterclaim against a company in official liquidation

Walkers on

The Grand Court has clarified that, where a company in official liquidation commences proceedings claiming that it holds certain rights, in order for the defendant to proceed with a counterclaim asserting that it is the true...more

McDermott Will & Schulte

English High Court Enforces Asymmetric Jurisdiction Clause in a Syndicated Loan Facility Agreement

On 24 May 2024, the English High Court granted final injunctive relief to Barclays Bank Plc (Barclays), both in the form of an anti-suit injunction and an anti-enforcement injunction, arising out of a syndicated loan...more

Cadwalader, Wickersham & Taft LLP

FDIC Proposes Bank Merger Policy Revisions: Our Key Takeaways

On March 21, the Federal Deposit Insurance Corporation (FDIC) published for comment a proposal (Proposal) to revise its Statement of Policy on Bank Merger Transactions (SOP).  If adopted as proposed, the Proposal would modify...more

King & Spalding

ELTIF 2 Chancen und Defizite

King & Spalding on

BaFin veröffentlicht einen FAQ zur überarbeiteten ELTIF-Verordnung - Am 1. Februar 2024 hat die Bundesanstalt für Finanzdienstleistungs­aufsicht (BaFin) ein FAQ zur am 10. Januar 2024 in Kraft getretenen, überarbeiteten...more

Alston & Bird

European Enforcement Guide

Alston & Bird on

In the current economic climate, it is important that lenders understand how they can enforce security and debt claims, to help in assessing options in the event of default by their customers, and when structuring new...more

A&O Shearman

CRD VI cross-border rules take shape

A&O Shearman on

Final provisions on cross-border banking services in the EU published - CRD VI will bring in uniform minimum prudential requirements for third country branches providing banking services in the EU and, more importantly,...more

Latham & Watkins LLP

Crypto Coming of Age: UK Regulation Hits Cryptoasset Business

Latham & Watkins LLP on

New regulatory requirements, including registration and customer disclosure requirements, apply to regulated and unregulated persons carrying on relevant cryptoasset business. On 20 December 2019, the UK government published...more

A&O Shearman

Financial Stability Board Reports on Implementation of the TLAC Standard

A&O Shearman on

The Financial Stability Board has published a report on the Review of the Technical Implementation of the Total Loss-Absorbing Capacity (TLAC) Standard. The FSB conducted a review of implementation of the TLAC Standard by...more

K&L Gates LLP

Distressed Solutions: The Global Reach of the US Bankruptcy Code and Litigation Between Financial Institutions

K&L Gates LLP on

“Only in New York” can cover a lot of ground, but there are certain types of cases that you will likely only see in the Southern District of New York. Listen in as John Bicks (New York) and Robert Honeywell (New York) tell...more

Carlton Fields

Federal District Court Declines to Rule on Arbitration Award, Finding No Independent Basis for Jurisdiction

Carlton Fields on

Following arbitration, the parties filed cross-motions to confirm and vacate the arbitration award. The District Court for the Southern District of California issued an order to show cause why the case should not be dismissed...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Spanish

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - October 2018

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Developments in Cryptocurrency in 2018

• The U.S. Securities and Exchange Commission (SEC) staff made official statements regarding when a token may or may no longer be a security • The SEC continued to bring actions related to cryptocurrency offerings against...more

Proskauer - Blockchain and the Law

SEC and CFTC Chairmen Testify before Senate on Cryptoasset Regulation

Last month, SEC chairman Jay Clayton and CFTC chairman Christopher Giancarlo testified before the Senate Banking Committee on their agencies’ regulatory efforts with respect to cryptoassets and ICOs. The written testimonies...more

Orrick, Herrington & Sutcliffe LLP

Federal Court Sends Colorado's Case Against Online Lending Platform Back to State Court

Colorado's ongoing challenge to the bank partnership model of online lending will next play out, at least in part, in state court. Last year, the Administrator of Colorado's Uniform Consumer Credit Code filed suits in...more

Burr & Forman

Florida Supreme Court Accepts Jurisdiction in Glass on Fee Issue in Foreclosures

Burr & Forman on

On February 13, 2018, the Florida Supreme Court accepted jurisdiction in an appeal emanating from a hot button issue in contested foreclosures – can the borrower in a foreclosure secure an award of contractual attorney’s fees...more

Dorsey & Whitney LLP

Mulvaney-Led CFPB Actively Litigates in Court Regarding Overdraft Policy-Related Evidence

Dorsey & Whitney LLP on

Many observers have reported on leadership changes at the Consumer Financial Protection Bureau (“CFPB”) and the potential shifts in policy priorities that may follow. However, in the new year, among the most interesting...more

Ballard Spahr LLP

The Courts Speak: Bank Liability for Alleged AML Failures Impacting Third Parties, and Hauling into U.S. Court Foreign Defendants...

Ballard Spahr LLP on

We discuss two recent federal court opinions addressing two issues of increasing frequency and importance: (i) the potential civil liability of financial institutions to non-customers and other third-parties for alleged...more

Hogan Lovells

Zebra Crossings: the view on secondment in Johannesburg

Hogan Lovells on

When I left the UK, bound for Johannesburg, it was (and remains) a turbulent time with the UK government facing difficult negotiations in the coming years first over Brexit and now too in relation to its very ability to...more

BCLP

If the Shoe Fits, Wear It – Bank Third Party Vendors as Institution-Affiliated Parties

BCLP on

When negotiating bank third party vendor contracts it is not unusual to ask the vendor to acknowledge in the contract that bank regulators might exercise some sort of supervision over the vendor. Vendors will oftentimes push...more

Hogan Lovells

FTC Hosts FinTech Forum on Artificial Intelligence and Blockchain Technologies, Part II

Hogan Lovells on

As previously reported, on Thursday, March 9th, the Federal Trade Commission (FTC) hosted a forum on the consumer implications of recent developments in artificial intelligence (AI) and blockchain technologies. This is the...more

Ballard Spahr LLP

Indictments Spotlight Broad Extraterritorial Reach of U.S. Money Laundering Statutes

Ballard Spahr LLP on

The U.S. money laundering statutes have a broad global reach and may be used to prosecute cases involving alleged schemes perpetrated almost entirely outside of the United States. These types of allegations seem to be an...more

Ballard Spahr LLP

The Eastern District of Michigan Affirms the CFPB's Broad Authority to Issue Civil Investigative Demands

Ballard Spahr LLP on

A recent decision from the Eastern District of Michigan in CFPB v. Harbour Portfolio Advisors, LLC; National Asset Advisors, LLC; and National Asset Mortgage, LLC serves as a reminder that the Consumer Financial Protection...more

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