By: Elena F. Mitchell and Frank Schall.
Blog Posts
Modern Slavery Statement Guidance – Note to Financial Institutions
The United Kingdom Home Office has released guidance to companies that are required to make a public statement about human trafficking risks and prevention measures under the U.K. Modern Slavery Act of 2015. Organizations are to address the emerging risks…
Treasury Department Publishes Interim Final Rule Implementing CFIUS Filing Fees
By: Elena F. Mitchell and Frank Schall.
Legislative and Bank Regulatory Actions to Assist Forbearance in a Pandemic World
By Kristina Whittaker and Ed O’Keefe. For the last three weeks or so, the federal and state banking agencies, collectively and individually, have, with increasing urgency, called on financial institutions to meet the financial needs of customers impacted by the COVID-19. Congress…
COVID-19 National and State Relief Efforts Focus on Single Family Mortgage Loans
The shuttered storefronts and grounded airplanes that by now have become an all too familiar image of the COVID-19 pandemic are quickly creating a ripple effect through the U.S. economy. As unemployment rises and Americans struggle to pay their bills,…
Treasury Department Publishes Proposed Rule on CFIUS Filing Fees
By: Elena F. Mitchell and Frank Schall. Further implementing the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA“), the U.S. Department of the Treasury recently published a proposed rule to establish filing fees for parties filing voluntary notices of…
Financial Services Regulators Call for Preparedness and Flexibility in Supervised Institutions’ Responses to COVID-19
By Kate Wellman and Neil Bloomfield. As COVID-19 continues to spread globally, U.S. financial services regulators have released guidance to their supervised institutions to encourage proactive planning for what may be months of sustained impact to business infrastructure and the…
Never Waste a Crisis: How Coronavirus May Help Shape the LIBOR Transition
The transition away from LIBOR was born from the financial crisis. For years regulators have been pushing for an alternative to the dominant market benchmark. The underlying market was illiquid. The rate was set by opinion, not transactions. It was…
A Time of Testing – What Lawyers Can Do
A black swan has arrived – the Pandemic of 2020 and with it a bear market. As with previous black swan events, experts and leaders are in learning mode, with the facts and events evolving hourly. As my financial advisor…
House Financial Services Subcommittee Tackles Trafficking Prevention in Financial Systems
Last week, the House Financial Services Committee Subcommittee on National Security, International Development and Monetary Policy held a hearing on transnational trafficking networks and illicit finances. Titled “The Traffickers’ Roadmap: How Bad Actors Exploit Financial Systems to Facilitate the Illicit…