On Dec. 23, 2019, the New York State Department of Financial Services (DFS) issued a letter to New York-regulated depository and non-depository institutions, insurers and pension funds directing them to submit their plans for...more
On Nov. 15, 2019, the Board of Governors of the Federal Reserve (the “Board”) released its semiannual Financial Stability Report. The report presents the Board’s current assessment of the resilience of the U.S. financial...more
11/20/2019
/ Board of Governors ,
Consumer Financial Products ,
Debt Market ,
Economic Impact Analysis ,
Economic Reform ,
Federal Reserve ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
FRB ,
GDP ,
High Yield Bonds ,
Lenders ,
Leveraged Finance ,
Leveraged Loans ,
Loans ,
Mutual Funds ,
Regulatory Oversight
Recently in In Re: 180 Equipment, LLC, a case of first impression, the United States Court of Appeals for the Seventh Circuit determined that the Illinois version of Article 9 of the Uniform Commercial Code (Illinois UCC)...more
On May 3, the Securities and Exchange Commission (the SEC) proposed amendments to its rules governing financial disclosures relating to acquisitions and dispositions of businesses....more
5/16/2019
/ Disclosure Requirements ,
Financial Regulatory Reform ,
Financial Reporting ,
High Yield Bonds ,
Income Test ,
Investment Test ,
Leveraged Finance ,
Pro Forma Financial Information ,
Proposed Rules ,
Public Offerings ,
Securities and Exchange Commission (SEC)
On May 6, 2019, the Board of Governors of the Federal Reserve System (the Board) published its annual Financial Stability Report....more
5/10/2019
/ Banks ,
Bonds ,
Collateralized Loan Obligations ,
Debt ,
Exchange-Traded Products ,
Federal Reserve ,
Financial Markets ,
FSOC ,
High Yield Bonds ,
Intermediaries ,
Leveraged Finance ,
Mutual Funds
The Alternative Reference Rates Committee (ARRC) issued a press release detailing recommended fallback language for floating rate notes and syndicated loans....more
On April 10, 2019, the International Monetary Fund (IMF) held a press conference to discuss its semiannual Global Financial Stability Report (the GFSR), which assesses key risks facing the global financial system. The GFSR...more
In an April 11 letter to Treasury Secretary Mnuchin, in his capacity as chair of the Financial Stability Oversight Council (FSOC), U.S. Sen. Sherrod Brown (D-Ohio), the ranking member of the U.S. Senate Committee on Banking,...more
On Jan. 19, 2019, the U.S. Court of Appeals for the Fifth Circuit vacated a bankruptcy court decision awarding Ultra Petroleum Corp. noteholders $201 million in make-whole payments and $186 million in post-petition interest. ...more
Effective August 1, 2018, the Delaware Limited Liability Company Act (the Delaware LLC Act) allows a Delaware limited liability company (an LLC) to divide into two or more LLCs and allocate the assets, liabilities, rights and...more