04/08/2022
Sanctions Tracker – U.S. Imposes Broad New Restrictions on Investment in Russia
These new restrictions will likely have a broad impact for U.S. and non-U.S. companies doing business with Russia.
Legal, Regulation & Compliance
04/06/2022
Ex-Bank of America Bankers Are Among 6 Banned by Fed Over COVID Loan Fraud
Autumn Jordan and Manuel F. Pinazo, who previously worked at Merrill Lynch Wealth Management, were among those who applied for assistance under one of the government’s COVID-19 relief programs "based on false and fraudulent representations and
04/05/2022
Credit Suisse Announces $100,000 Grant to myFutureNC
This grant is part of Credit Suisse’s Future Skills program, which aims to support initiatives that help close educational and employment gaps for young people, especially disadvantaged, entering adulthood.
04/05/2022
A Deeper Dive Into the US Adjustable Interest Rate (LIBOR) Act
As the market begins to consider how the provisions of the LIBOR Act apply to their portfolios, we highlight a couple of recent issues.
04/05/2022
Wells Fargo to settle ERISA case for $32.5 million
Participants filed amended complaints in June 2021 and September 2021, in Becker et al. vs. Wells Fargo & Co. et al.
04/03/2022
Filing Instructions Released for New US Bank Incident Reporting Requirement
These instructions will assist financial institutions in satisfying their obligations under the new requirements once compliance is required on May 1, 2022.
03/31/2022
Utah Enacts Commercial Financing Disclosure Law with a Registration Obligation
Pending New York legislation would add its own licensing obligation to the disclosure obligations for commercial financing of $500,000 or less.
03/31/2022
JP Morgan Seized a Russian Superyacht in Gibraltar
The investment bank won a court order that authorized the seizure of a $75 million superyacht owned by Russian billionaire Dmitry Pumpyansky.
03/28/2022
No End in Sight Yet for China’s U.S Delisting Fears
According to a statement by the PCAOB last Thursday, talks were still ongoing and it "remains unclear" whether Beijing will "permit and facilitate" auditing access.
03/28/2022
President Joe Biden to propose new 20% minimum billionaire tax
Over half the revenue could come from those worth more than $1 billion.
03/25/2022
Kingswood U.S. RIAs Consolidate under the Kingswood Wealth Advisors Brand
These changes will allow the firm to create a better, more efficient service model that capitalizes on economies of scale.
03/25/2022
Clifford Chance advises HSBC and Standard Chartered Bank on innovative pre-listing liability management transaction by Olam
The Clifford Chance team was required to advise across English, Singapore, EU and US federal securities laws aspects of the transaction.
03/25/2022
FinCEN Identifies Red Flags Following Russia Sanctions
In its alert, FinCEN warns that Russian and Belarusian actors may seek to evade sanctions through non-sanctioned financial institutions. In light of this risk, FinCEN encourages financial institutions to look for the following red flags:
03/25/2022
Sanctions Tracker – US Russia Sanctions Designations and Gold Transactions Guidance
These designations coincide with President Biden’s diplomatic meetings in Europe and form part of a further set of Russia sanctions actions coordinated between the United States and its allies.
03/25/2022
Citizens Financial Group and Investors Bancorp Receive Regulatory Approval for Citizens Acquisition of Investors
Customers will continue to be served through their respective Citizens and Investors branches, websites and mobile applications after close and until systems are converted
03/24/2022
Update on US Uyghur Forced Labor Prevention Act
Here is a quick update on what is happening with the Uyghur Forced Labor Prevention Act
03/24/2022
Increased Crackdown on Citizenship and Residency by Investment Programs
A breakdown of three recent major developments.
03/24/2022
New SEC Climate Disclosure Rule a Major Step Forward
New rule a game-changer for reducing investor climate financial risk and costs
03/24/2022
Number of AML fines up, penalty totals down in 2021
The 55 fines issued in 2021 is the highest amount observed by Kroll since 2016, which is as far as its data dates back.
03/23/2022
Jonathan Gafni named as one of 2022’s Top Advisors by Foreign Investment Watch
Recognized as a leading global CFIUS lawyer for the third consecutive year