Tag Archives: gt

Contractual Flexibility for Small Businesses

Small businesses oftentimes rely on co-working spaces, which are facing two issues during the Coronavirus Disease 2019 (COVID-19) pandemic. Some co-working spaces are staying open in the event that any of their users provide essential services – does this warrant charging continued fees to all users? Furthermore, because shared spaces may challenge company-wide safety guidelines, … Continue Reading

Federal Reserve Releases New Information on the TALF

On May 12, 2020, the Board of Governors of the Federal Reserve System (the Federal Reserve) announced additional information and FAQs on its Term Asset-Backed Securities Loan Facility (TALF). The goal of the TALF is to help consumers and businesses access affordable credit during and in the aftermath of the Coronavirus Disease 2019 (COVID-19) pandemic by lending to holders … Continue Reading

Interagency Guidance for Financial Institutions on Coronavirus Disease-Related Loan Modifications

On Sunday night, March 22, 2020, the federal banking agencies (OCC, FDIC, NCUA, Federal Reserve), the Consumer Financial Protection Bureau and the State Conference of Bank Supervisors issued an Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus. The Guidance does two key things: 1. Short-term loan … Continue Reading

Prove It or Lose It: Lost It! NCA Uses New Powers to Freeze Accounts and Secure Substantial Asset Forfeiture

On Feb. 7, 2019, the UK’s National Crime Agency (NCA) confirmed that it had obtained account forfeiture orders over money held in bank accounts in the name of the former Moldovan prime minister’s son, Vlad Luca Filat. Part III of our ‘Prove It or Lose It’ series anticipated the use of UK law enforcement authorities’ … Continue Reading

The DOL Issues Broader Fiduciary Adviser Definition: What Does it Mean for You?

Since the enactment of ERISA in 1974, there has been a dramatic shift in the retirement savings marketplace from employer-sponsored defined benefit plans to participant-directed 401(k) plans, coupled with the widespread growth of Individual Retirement Accounts and Annuities (IRAs). In fact, 401(k) plans did not exist at the time the Department of Labor (DOL) published … Continue Reading

FINRA Set to Emphasize ‘Firm Culture’ and Ethics as Exam Priorities in 2016

FINRA recently released its 2016 Regulatory and Examination Priorities Letter, an annual event which serves to highlight both emerging and existing risks in the financial services industry. The letter serves as a guide to FINRA’s priorities for the upcoming year, and highlights the issues which FINRA deems most important to its regulatory mission at the moment. … Continue Reading
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