Topic: Banking

JD Supra Corporate Brief: Double Non-Taxation, Telemarketing Fraud, Whistleblower Protections, Inflation Risks

On July 22, 1937, the US Senate votes down President Franklin Roosevelt’s plan to add more justices to the Supreme Court. The OECD has launched an ambitious plan to overhaul the international taxation system – and eliminate “double non-taxation” – over the next 24 months… (Skadden Arps) It’s time to relearn how to do business… Read more »

FATCA Update: IRS Gives International Banks Brief Reprieve

Non-US banks struggling to comply with the US Foreign Account Tax Compliance Act (FATCA) – which requires foreign financial institutions to provide US authorities with information on accounts held by US citizens or face substantial penalties – just got an unexpected break from the Treasury Department. On July 12, 2013, the Internal Revenue Service announced… Read more »

JD Supra Corporate Brief: Protecting Whistleblowers, Advertising Offerings, Reviewing Mergers, Sharing Audits

The new math: (coffee + JD Supra Corporate Brief) / Monday = Ahhh. Enjoy: An appeals court just ruled that Sarbanes-Oxley whistleblower protections apply even when there are no shareholders to defraud… (Sherman & Howard) The SEC has revised its rules to allow entrepreneurs and startups to market stock offerings via advertisements and mass communications… Read more »

JD Supra Corporate Brief: California Breaches Report, Money Market Regulation, Resource Extraction Payments, Global Shipping Industry

Another day, another JD Supra Corporate Brief. Life is good. The key takeaway from California’s recently published 2012 report on data breaches in the state? Just how common those breaches have become… (Mintz Levin) What do the proposed reforms to the regulation of money market funds mean for the industry? This… (Morrison & Foerster) That… Read more »

US Strengthens Restrictions on Iran – with One Notable Exception

It’s a busy time for US government officials charged with imposing sanctions against Iran. What’s new? 1. Sanctions on financial institutions that trade in Iran’s currency: “On June 3, the Obama Administration announced a new Executive Order authorizing sanctions that directly target trade in Iran’s currency, the rial. The order authorizes the Treasury Secretary to… Read more »

JD Supra Corporate Brief: Cyber Risk Insurance, UK Bribery Act, 3D Printing Battles, Undercover FBI Operation

No, you’re not dreaming: the new JD Supra Corporate Brief really is here. On the market for cyber risk insurance? This update will help (Sherman & Howard) The UK government is considering changes to the UK bribery act that would decriminalize facilitation payments for small and medium businesses (Pillsbury) A new set of US Iran… Read more »

JD Supra Corporate Brief: Investigative Crises, Drug Names, Paper Shredders, Washing Machines

Happiness is a warm JD Supra Corporate Brief: “Knock, knock.” “Who’s there?” “The federal government, with a search warrant – do you know what to do?” (DLA Piper) Maybe it would be easier if we only used the first 23 letters of the alphabet to name our products… (Foley Hoag) Federal contractors take note: if… Read more »

Getting Into the Virtual Currency Biz? Here’s How to Stay Legal…

“If your business involves creating, obtaining, distributing, exchanging, accepting, or transmitting virtual currencies, you may be subject to FinCEN’s registration, reporting, and recordkeeping requirements.” (Pillsbury)   May 2013 was a watershed month for the virtual currency industry. For the first time in history, US law enforcement filed charges against two virtual currency exchange companies for… Read more »

Has Dodd-Frank Solved “Too Big To Fail”? Depends On Whom You Ask…

Has the Dodd-Frank Act solved the “Too Big To Fail” problem? Senators Sherrod Brown and David Vitter would say it has not. After all, they recently introduced the Terminating Bailouts for Taxpayer Fairness Act, which would impose significantly higher capital reserve requirements on the country’s largest financial institutions. But not everyone shares that view. For… Read more »

JD Supra Corporate Brief: COPAA Compliance, False Certifications, Medical Check-ups, Fracking Regulations

Busy morning? You probably deserve a break. A JD Supra Corporate Brief break, that is. And a blueberry scone… Check your mailbox – the FTC is sending out COPPA compliance letters… (Mintz Levin) In the market for a municipal regulated gas division? (Saul Ewing) Appeals court reverses an $11 million False Claims Act judgment with… Read more »

Doing Business in Europe: Latest Need-to-Know

Do business in Europe? Here’s a roundup of recent commentary and analysis on conducting business in Europe, including REACH regulations, patent classification, taxation, mobile apps, dawn raids, and more: Some clarification regarding challenges to REACH candidate listing (K&L Gates LLP): “In a series of recent judgments the EU General Court has given some guidance to companies… Read more »

Mortgage Servicers Take Heed: The CFPB Has New Rules for How You Do Business

[Video: A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules – Pepper Hamilton LLP] The Consumer Financial Protection Bureau recently issued two rules that are going to change the way mortgage service companies do business: the 2013 RESPA Servicing Final Rule, an amendment to Regulation X… Read more »

Financial Regulatory Agencies Issue Rule on Appraising “High-Risk” Mortgages

In mid-January, federal regulators published a final rule implementing new appraisal requirements for higher-priced mortgage loans. The new regulation, – authored by the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the National Credit Union Administration, and the Office of the Comptroller of the Currency –… Read more »

Latest Iran Sanctions: Need-to-Know from JD Supra

The net of international sanctions on Iran and entities that do business with the Iranian regime continues to tighten. For your reference, here’s a roundup of latest commentary and analysis on sanctions imposed by the United States and Europe: U.S. Activity New Iran Sanctions Enacted (BakerHostetler): “The [latest] law, which comes just shy of five… Read more »