SPOTLIGHTUS Election
Post-Election Analysis: The Future of US Policy and Implications for Businesses and the Economy
The US federal election could have sweeping regulatory and legislative impacts across virtually every major sector of the economy. To help understand how government policy might change over the next four years and what that means for domestic and global businesses, we invite you to join the first of our post-election programs.
Whistleblower Guidance Released by US Federal Reserve
On September 8, 2022, the Board of Governors of the Federal Reserve System released a statement that encourages whistleblowers to report certain activities at banking organizations it regulates . The 2022 Guidance is notable as one of the first interpretations by a federal banking regulator of the whistleblower provisions of the Federal Deposit Insurance Act.
ESG Impacts on Chemical Industry M&A
ESG issues have increasingly become a priority of publicly traded and privately held companies. Major chemicals companies have leaned into ESG by setting ambitious, long-term goals to improve their ESG performance and being increasingly transparent about their progress toward achieving these goals.
President Biden Signs Executive Order on U.S. Intelligence Activities to Implement EU-U.S. Data Privacy Framework
On October 7, 2022, President Biden signed an Executive Order on Enhancing Safeguards for United States Signals Intelligence Activities,1 which is intended to implement U.S. commitments under the Trans-Atlantic Data Privacy Framework (DPF) announced in March 2022. With the new executive order, the Biden administration aims to strengthen the legal foundation for trans-Atlantic data flows following the 2020 Schrems II decision.
Switching to SOFR: Proposed Rule Published to Implement the 2022 Federal LIBOR Act
On 19 July 2022, the Federal Reserve Board (the “Board”) published a notice of proposed rulemaking – Regulation Implementing the Adjustable Interest Rate (LIBOR) Act, as it was required to do by Section 110[1] of the Adjustable Interest Rate (LIBOR) Act (the “LIBOR Act”),[2] which was signed into law on 15 March 2022.
Ukraine Crisis – Russia / Ukraine Sanctions Update
UPDATED – October 14, 2022
Ukraine Crisis – Other Notable Developments – Sanctions Update
UPDATED – October 14, 2022
Ukraine Crisis – US Sanctions Update – ARCHIVE
An archive of US Sanctions during the Ukraine Crisis.
Ukraine Crisis – Russia / Ukraine Sanctions Update – ARCHIVE
UPDATED – May 12, 2022
Ukraine Crisis – Other Notable Developments – Sanctions Update – ARCHIVE
UPDATED – May 12, 2022
EBA Final Draft Regulatory Technical Standards relating to Risk Retention
On 12 April 2022 the European Banking Authority published final draft regulatory technical standards relating to risk retention pursuant to the EU Securitisation Regulation. The Final Draft will enter into force on the 20th day following its publication. It will replace the current technical standards under the EU Capital Requirements Regulation.
US FinCEN Warns Financial Institutions About Activities of Kleptocracies and Foreign Corruption
On April 14, 2022, the US Financial Crimes Enforcement Network (“FinCEN”) urged financial institutions to focus on detecting, reporting, and blocking funds associated with kleptocracies and other forms of foreign public corruption.
Electronic Discovery & Information Governance – Tip of the Month: Adapting Information Governance and eDiscovery to the “New Normal”
In this scenario we look at a large financial services firm engaged outside counsel and an eDiscovery provider for an internal investigation relating to trading activities that may result in the need for disclosures to regulators and follow-on civil suits.
Landmark US Humanitarian Parole Program: Uniting For Ukraine
The conflict in Ukraine has caused civilian casualties and destruction of infrastructure. Since the Ukraine-Russia military crisis escalated two months ago, over 5.2 million Ukrainians have left their homeland as they seek safety and protection in neighboring countries and abroad.
Poland Expands Support for Ukrainians
Over the past two months, approximately 5 million Ukrainians have departed their homeland due to the escalating military conflict with Russia. Poland has received the majority of these individuals—taking in more than 2.8 million people according to the latest estimate from the UN High Commissioner for Refugees.
Landmark Decision from California’s Supreme Court Confirms Limitation on Ability to Assert Tort Claims Against Lenders
A recent, important decision from California’s Supreme Court clarifies lender liability in connection with servicing loans in default and limits a homeowner’s ability to assert tort claims against lenders and loan servicers.
Buy Clean: Biden’s Executive Order on Catalyzing Clean Energy through Federal Procurement
Late last year President Biden issued the Executive Order on Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability (the Clean Energy EO) to set aggressive decarbonization goals for federal agencies.1` The federal government is the largest energy consumer in the United States.
Utah Passes Comprehensive Privacy Law: How the UCPA Compares to Other State Privacy Laws
Utah has become the fourth state to pass comprehensive consumer data privacy legislation. The Utah Consumer Privacy Act (“UCPA”) into law on March 24, 2022. This Legal Update discusses the UCPA’s scope; compares it with the other state privacy laws in the areas of exemptions, data subject rights and data controller obligations; and notes important dates related to the new law.
Hong Kong Vaccine Pass and COVID-Related Restrictions – At A Glance (Update: 21 March 2022)
The Hong Kong government has imposed a number of restrictions and measures which most notably now include the requirement for a “Vaccine Pass” to enter certain premises. We summarise the latest obligations and requirements (based on what we know so far) and other key COVID-related restrictions.
Ukraine Crisis – the contractual risks of withdrawing from Russia
Russia’s invasion of Ukraine has prompted many western companies to stage a mass commercial exodus from Russia, as businesses have decided that, even if they are not caught by sanctions, it is no longer appropriate or desirable to maintain a presence there.
Attorney General Garland Issues Memorandum on Freedom of Information Act Guidelines to Federal Departments and Agencies
On March 15, 2022, Attorney General Merrick B. Garland sent a memorandum to the heads of federal departments and agencies concerning Freedom of Information Act (“FOIA”) issues. In the memorandum, he urged departments and agencies to employ a “presumption of openness” in responding to FOIA requests.
