Duane Morris Blog » Banking and Finance Law
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Duane Morris Blog » Banking and Finance Law
3M ago
On October 8, 2024, the Federal Deposit Insurance Corporation (“FDIC”) announced an extension to the comment period on its notice of proposed rulemaking (“NPR”) regarding brokered deposits. Originally, the comment period for the PR was to close on October 22, 2024, but is now planned to close on November 21, 2024. The original NPR, “Unsafe ..read more
Duane Morris Blog » Banking and Finance Law
4M ago
On September 17, 2024, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) separately finalized previously proposed policy statements on their review of bank mergers under the Bank Merger Act (BMA) and its implementing regulations. Noticeably missing in action was the Board of Governors of the Federal Reserve ..read more
Duane Morris Blog » Banking and Finance Law
7M ago
On May 31, 2024, the President vetoed H.J.Res 109, which evidenced the disapproval by Congress of Staff Accounting Bulletin 121 of the Securities and Exchange Commission. This followed several years of industry and bipartisan efforts in Congress to blunt the effect of or nullify the rule. On its face, SAB 121 is fairly innocuous. Crypto ..read more
Duane Morris Blog » Banking and Finance Law
8M ago
In case you haven’t heard of it, today marks the 14th anniversary of the first recorded use of bitcoin to pay for goods and services, the delivery of two large pizzas. With the price of bitcoin currently hovering around $70,000, it is shocking to hear that the price paid was 10,000 bitcoins. However, at the ..read more
Duane Morris Blog » Banking and Finance Law
8M ago
On May 3, 2024, Law L25-0158 was published in the District of Columbia Register. Titled the “Uniform Commercial Code Amendment Act of 2024,” it is the codification in Washington, DC of the 2022 Amendments to the UCC drafted by the Uniform Law Commission and the American Law Institute. The 2022 Amendments hold out the promise ..read more
Duane Morris Blog » Banking and Finance Law
1y ago
On June 20, 2023, Assistant Attorney General Jonathan Kanter addressed the Brookings Institute to discuss the 60-year anniversary of a seminal Supreme Court of the United States case concerning bank mergers: United States v. Philadelphia National Bank. Kanter used the opportunity to announce a new approach by DOJ to its assessment of bank mergers consistent with ..read more
Duane Morris Blog » Banking and Finance Law
1y ago
In the recent case of Re Avanti Communications Limited (in administration)[1] (Re Avanti), the court considered the nature of fixed and floating charges. Whether a charge is fixed or floating has implications for both lenders and administrators in terms of determining to what extent a chargor can recover from the charged assets and to what ..read more
Duane Morris Blog » Banking and Finance Law
1y ago
By Natalie Stewart and Tobias Clapp On 3 May 2023, the Financial Conduct Authority (“FCA”) released a Consultation Paper which detailed proposed changes to the Listing Rules for companies listed on the London Stock Exchange Main Market and AIM. The consultation period will run until 28 June 2023. The FCA also intends to publish a ..read more
Duane Morris Blog » Banking and Finance Law
1y ago
By Natalie Stewart and Tobias Clapp On 3 May 2023, the Financial Conduct Authority (“FCA”) released a Consultation Paper which detailed proposed changes to the Listing Rules for companies listed on the London Stock Exchange Main Market and AIM. The consultation period will run until 28 June 2023. The FCA also intends to publish a ..read more
Duane Morris Blog » Banking and Finance Law
1y ago
Background The Financial Conduct Authority (“FCA”) is seeking to overhaul the current retail investor disclosure regime that is based on EU rules and is no longer viewed as fit for purpose in the UK. The FCA published a discussion paper in December 2022 seeking feedback on new disclosure rules to ensure retail investors are able ..read more