Legislative measures implemented by the Italian government in response to Coronavirus Disease 2019 (COVID-19) to ensure a more favourable framework for the granting of new financing and tackling liquidity shortage
Continue Reading COVID-19 Pandemic: Banking & Finance ‘Phase 2’ Measures in Italy
On May 20, 2020, the Office of the Comptroller of the Currency (OCC), which regulates national banks, released a Final Rule intended to strengthen and modernize the implementation of the
New regulations have been recently issued pursuant to Mexico’s Law to Regulate Financial Technology Institutions, published March 10, 2018. These new regulations apply to a significant group of financial entities
Continue Reading New Open Banking Regulation in Mexico
On June 11, 2020, the Small Business Administration and the U.S. Department of the Treasury released their latest guidance in the form of “Paycheck Protection Program –Revisions to First
Continue Reading Paycheck Protection Program: Treasury/SBA Conform First Interim Final Rule to PPP Flexibility Act
On June 3, 2020, Congress passed the PPP Flexibility Act to loosen requirements for loan forgiveness for CARES Act Paycheck Protection Program (PPP) borrowers. The new forgiveness rules will allow
Continue Reading Congress Passes the PPP Flexibility Act
As another sign of the times, but arguably quite apt given the subject matter, the Consensus Blockchain Conference convened virtually in 2020, with Financial Crimes Enforcement Network (FinCEN) Director Ken
Continue Reading FinCEN Director Confirms Enforcement Focus on Virtual Currency AML Compliance
In the last decade, traditional financial institutions such as banks and broker-dealers have faced increased scrutiny from federal regulators and prosecutors related to the adequacy of their anti-money laundering (AML)
Continue Reading AML Compliance Scrutiny of Virtual Currency Services in 2020 and Beyond
On April 30, 2020, the Board of Governors of the Federal Reserve System (the Federal Reserve) announced changes to its Main Street Lending Program (MSLP) in response to feedback from
Continue Reading COVID-19 Economic Stimulus: Federal Reserve Expands Scope and Eligibility for Its Main Street Lending Program
On March 4, 2020, the Securities and Exchange Commission (SEC) announced its proposal to harmonize, simplify, and improve the exempt offering framework under the Securities Act of 1933 (the “Securities
Continue Reading Exempt Offering Framework Amendment Proposal
The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) released its annual list of 2020 Examination Priorities on Jan. 7, 2020. Many of
Continue Reading 2020 SEC Exam Priorities for Securities Industry Registrants