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Alston & Bird

Payments Docket – December 2024

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The latest edition of the Payments Docket, our roundup of key litigation and enforcement involving the payments industry, features why the CFPB’s open banking rule is under fire, a convenience fee that steals your lunch...more

Mayer Brown

UK Supreme Court Grants Permission to Appeal Landmark Case on Motor Finance Commission Payments and Disclosure Thresholds

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Last week the Supreme Court granted permission to appeal the Court of Appeal's decision in a case examining the permissibility of motor finance commission payments, which challenged traditional legal thinking relating to...more

A&O Shearman

Final Basel Committee guidelines for counterparty credit risk management

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The Basel Committee on Banking Supervision has published the final version of its guidelines for counterparty credit risk management, replacing its "Sound Practices for Banks' Interactions with Highly Leveraged Institutions"...more

Moore & Van Allen PLLC

Nationwide CTA Injunction Remains in Place Following First FinCEN Stay Request; Second FinCEN Stay Request Pending Before Fifth...

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As discussed in our prior blog post, on December 3, 2024, the U.S. District Court for the Eastern District of Texas (“District Court”) issued an order preliminarily enjoining enforcement of the Corporate Transparency Act and...more

Mayer Brown

Be Prepared for “EDGAR Next” Changes So You Aren’t Locked Out of EDGAR Right Before a Filing Deadline

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On September 27, 2024, the US Securities and Exchange Commission (SEC) adopted amendments to Rules 10 and 11 of Regulation S-T, Form ID, and the EDGAR Filer Manual, all of which will change the way filers access and manage...more

Holland & Knight LLP

Ringing the (Jingle) Bell: Whistleblower Program 2024 Recap

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Whistleblower programs are the gifts that keep giving to enforcement agencies, driving a record number of cases, sanctions and awards across multiple agencies. In this ninth installment of Season's Readings, we revisit some...more

Latham & Watkins LLP

German Parliament Passes Financial Market Digitisation Act

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The FinmadiG introduces material implementation measures for the European Digital Finance Package....more

Polsinelli

Nationwide CTA Injunction Under Review by 5th Circuit; Congress May Delay January 1, 2025 Deadline

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On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction in favor of the plaintiffs in the case of Texas Top Cop Shop, Inc. et al. vs. Garland (U.S. Attorney...more

A&O Shearman

European Commission writes to EU authorities on the interplay between crypto asset and payment services regulations

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The European Banking Authority has published a letter from the European Commission (dated December 6, 2024) to the EBA and the European Securities and Markets Authority regarding the interplay between Markets in Crypto Assets...more

A&O Shearman

Financial Stability Board publishes final report on liquidity preparedness for margin and collateral calls

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The Financial Stability Board has published a final report on liquidity preparedness for margin and collateral calls. The report sets out policy recommendations to enhance the liquidity preparedness of non-bank market...more

A&O Shearman

UK authorities respond to Treasury Committee questions about Sexism in the City inquiry recommendations

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The House of Commons Treasury Committee has published letters from HM Treasury, the Prudential Regulation Authority and the Financial Conduct Authority setting out progress made to date in relation to the Committee's "Sexism...more

Polsinelli

Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: December 19, 2024

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With Bitcoin hitting record highs and breaking a barrier long seen as aspirational, and with a new administration making key appointments, the year is ending with much excitement and momentum for the digital assets industry....more

A&O Shearman

DORA: Get ready, get set, take action

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The Digital Operational Resilience Act 2022/2554 (DORA) is a European regulation that will come into force on January 17, 2025. The regulation aims to strengthen the digital operational resilience of the financial sector...more

Latham & Watkins LLP

UK Regulators Consult on New Reporting Requirements for Operational Incidents and Use of Material Third Parties

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On 13 December 2024, the FCA and the PRA published linked Consultation Papers on operational incident and third-party reporting (FCA CP24/28 and PRA CP17/24). The consultations aim to create a structured framework for...more

Moore & Van Allen PLLC

High-Frequency Traders: How the SEC Can Tighten Regulation While Maintaining the Benefits of a Competitive Market While...

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In 2010, the so-called “Flash Crash” of the U.S. stock market brought the overlooked practice of high-frequency trading into the spotlight for the first time. Initial efforts to study and curtail the practice, including a...more

Clark Hill PLC

Right To Know - December 2024, Vol. 24

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Cyber, Privacy, and Technology Report - Welcome to your monthly rundown of all things cyber, privacy, and technology, where we highlight all the happenings you may have missed....more

Clark Hill PLC

Navigating the New CFPB Overdraft Rule: Implications for Financial Institutions

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The Consumer Financial Protection Bureau (CFPB) recently finalized its “Overdraft Lending: Very Large Financial Institutions Rule,” introducing sweeping changes to how overdraft credit is structured and regulated for the...more

BakerHostetler

CFTC Issues Advisory Related to Use of Artificial Intelligence

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In issuing the Advisory, the CFTC recognizes the potential for AI to transform the U.S. financial markets. However, given how far-reaching AI’s impact may be, the CFTC simultaneously cautions CFTC-regulated entities to be...more

Dorsey & Whitney LLP

2025 Private Funds Compliance Calendar

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Dorsey’s 2025 Private Funds Compliance Calendar addresses certain key regulatory obligations that apply to private funds and private fund advisers....more

Hogan Lovells

Captive audience: Will the UK's new captive insurance regime attract global attention?

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On 14 November 2024, Chancellor of the Exchequer Rachel Reeves announced the launch of a three-month consultation on the regulatory regime for UK-domiciled captives. The consultation seeks a broad range of market feedback on...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday December 20

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December 19, 2024- The U.S. Department of the Treasury released a report following the issuance of its 2024 Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence in Financial Services,...more

Orrick, Herrington & Sutcliffe LLP

SEC Stays Some Regulation NMS Amendments

The Securities and Exchange Commission (SEC) has granted a partial stay of the amendments to Rules 610 and 612 of Regulation NMS. The SEC’s December 12 order came in response to a motion filed by Nasdaq and Cboe, among...more

Orrick, Herrington & Sutcliffe LLP

CFPB Eyes More Oversight of Major Consumer Payment Nonbanks

The CFPB adopted a final rule providing for increased oversight of certain companies offering consumer payment products like mobile apps and digital wallets. Continuing to lean into its plans to expand its authority to...more

Orrick, Herrington & Sutcliffe LLP

CFPB finalizes overdraft lending rule for “very large financial institutions”

On December 12, the CFPB issued a final rule, restricting the amount that certain financial institutions can charge for their overdraft service. As previously covered by InfoBytes, historically, the Fed exempted banks from...more

Wilson Sonsini Goodrich & Rosati

Potential Ramifications of a Government Shutdown for the SEC

If U.S. congressional leaders are unable to pass legislation for continued government funding, it is expected that much of the federal government, including the U.S. Securities and Exchange Commission (SEC), would shut down...more

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