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The House Financial Services Committee unanimously recommended to the full House on May 9, 2019 a bill that would reform the U.S. anti-money laundering (AML) regime. H.R. 2514, the Coord...
The SEC is taking another potential step to ease the reporting burden on smaller companies. Under a rule change proposed May 9, companies with less than $100 million in revenues would not...
On Friday, the SEC proposed a package of rule amendments and regulatory guidance regarding the cross-border application of its security-based swap (“SBS”) rules. The proposal represe...
On May 13, 2019, the Supreme Court issued a 5-4 decision in Apple v. Pepper, holding that iPhone users have standing as “direct purchasers” under the Illinois Brick doctrine to sue Ap...
A bipartisan group of 38 state and territorial attorneys general has signed an open letter to Congress calling for legislative change for banking and financial institutions wishing to pro...
On May 8, 2019, the one-year anniversary of his decision to end the United States’ participation in the Joint Comprehensive Plan of Action (“JCPOA”) with Iran, President Trump issue...
On April 30, 2019, Assistant Attorney General Brian Benczkowski of the Criminal Division of the Department of Justice (“DOJ”) announced an updated version of the Criminal Division’s...
On May 3, 2019, the Treasury Department’s Office of Foreign Assets Control (“OFAC”) published A Framework for OFAC Compliance Commitments (the “Compliance Framework”), a guidanc...
On May 3, the SEC proposed changes to the financial disclosure rules for acquisitions and dispositions of businesses, taking a significant step toward easing the reporting burden. The pro...
A federal judge has put the fintech charter into the deep hibernation of a long litigation battle. It is back to the drawing board for those who might desire a fintech charter. Time to ta...