Duane Morris Banking and Finance Law Blog
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Read news and articles on banking and financial marketing at Duane Morris. DMi believes in, keeping you ahead of problems before they arise. They inform and engage your leadership with high quality education performed by our top legal professionals.
Duane Morris Banking and Finance Law Blog
10M 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 Banking and Finance Law Blog
11M 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 Banking and Finance Law Blog
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 Banking and Finance Law Blog
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 Banking and Finance Law Blog
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
Duane Morris Banking and Finance Law Blog
1y ago
In the wake of the failures of Silicon Valley Bank and Signature Bank, on March 12, 2023, the Federal Reserve Board announced that it will make available additional funding to eligible depository institutions to help assure that banks have the ability to meet the needs of all their depositors. The new lending program, called the Bank Term Funding ..read more
Duane Morris Banking and Finance Law Blog
1y ago
The banking and finance industries have historically chosen litigation as their preferred dispute resolution, generally in the New York or London courts. Due to increased globalization and participation from emerging markets (e.g., Africa and Asia), international arbitration of banking and finance disputes is rising in popularity. To read the full text of this post by Duane ..read more
Duane Morris Banking and Finance Law Blog
1y ago
in case you thought it was safe to go away for Thanksgiving and not worry about LIBOR transition, think again. The Financial Conduct Authority, the regulator of US dollar LIBOR across the pond, reminded us that we are all still dependent upon them until the complete switch is made to SOFR or another rate. On ..read more
Duane Morris Banking and Finance Law Blog
1y ago
The California Court of Appeal recently held that default interest and late fee charges are unlawful when they are assessed against the full outstanding principal balance on a partially matured note, regardless of whether the loan is a consumer or nonconsumer loan. At present, lenders operating in California should be prepared for borrowers to challenge ..read more
Duane Morris Banking and Finance Law Blog
1y ago
The British Business Bank’s (“BBB”) Coronavirus Business Interruption Loan Scheme (“CBILS”) was first introduced in April 2021. The new iteration of the Scheme, the Recovery Loan Scheme (“RLS”) launched in August 2022 and will run until 2024. Following on from our previous article regarding the CBILS, our follow-up article provides updated guidance regarding the new ..read more