Explore MVALAW.COM

Acting Comptroller Hsu Suggests a Potential Path Forward to Address Identified Gaps in the Regulatory Resolution Framework for Large Regional Banks

In the fourteen years since the 2008 financial crisis, significant actions have been taken by Federal banking agencies to make the largest financial institutions more resilient and less likely to fail and to require planning that would facilitate their orderly resolution, if necessary. These risk mitigation measures are tailored, however, with the most stringent requirements, and highest regulatory expectations, appropriately reserved for the eight U.S. banks designated as posing the greatest risk to financial stability (global systemically important banks, or GSIBs ...

SEC Announces Exam Priorities for 2022

On March 30, 2022, the U.S. Securities and Exchange Commission’s (“SEC”) Division of Examinations released its exam priorities for fiscal year 2022 (the “2022 Priorities”). As in years past, these exam priorities naturally follow from SEC rulemakings, statements, risk alerts and other guidance issued in the past year, and reflect practices or topics that may pose higher risk for referral to the SEC’s Division of Enforcement.

The 2022 Priorities include broader thematic “Significant Focus Areas,” which may be applicable to both broker-dealers and registered ...

Federal Agencies Focused on Discriminatory Home Valuation Practices

Late last year, news services reported on the results of the efforts of a black couple living in Northern California to challenge what they believed was an initial, discriminatory low-ball appraisal of their home. To test their theory, the couple “whitewashed” their home by removing artwork and replacing family photos with those of a white neighbor, who acted as the homeowner during a second appraisal from another company. The couple filed a discrimination lawsuit against the initial appraiser after the second appraisal came in almost half a million dollars higher. Recent ...

SEC Announces Proposed Rule for Climate Risk and Greenhouse Gas Disclosures

On March 21, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced a proposed rule (the “Proposed Rule”) that will require registrants to make certain climate disclosures in their registration statements and periodic filings with the SEC. Chairman Gary Gensler stated that the goal of the Proposed Rule is to “provide investors with consistent, comparable, and decision-useful information for making their investment decisions, and it would provide consistent and clear reporting obligations for issuers.” The Proposed Rule would require three main ...

New Executive Order Signals Further Delay for the Regulation of Cryptocurrencies and Continuing Interest Around a U.S. Central Bank Digital Currency

President Biden signed an executive order today setting forth an agenda across the U.S. government to address risks related to cryptocurrencies while encouraging continued innovation around digital assets and funds transfer and payment systems. The order represents an acknowledgement by the Biden administration of the prevalence of cryptocurrencies in the U.S. and global economies and their ability to facilitate access to financial services within traditionally underserved communities. The order conveys a need for the U.S. to keep up with these technological advances ...

United States Imposes Sanctions Related to Russia’s Invasion of Ukraine

Background

In February 2014, the Revolution of Dignity or Maidan revolution in Ukraine resulted in the ousting of Ukrainian President Viktor Yanukovych. In the months that followed, Russia annexed the Crimea region of Ukraine and supported separatist movements in the eastern regions of Luhansk and Donetsk. President Obama signed three Executive Orders in March 2014 imposing sanctions and prohibiting certain transactions because of Russia’s actions in Ukraine. Multiple Executive Orders relating to Russia followed over a period of years.

On February 21, 2022, Russia ...

Breakage Costs & SOFR Loans: Breaking-up is Still Expensive

It may not be the next Taylor Swift song, but a prepayment changes the Lender-Borrower relationship. In a swap, we all know there are consequences. Rather than a “breakage cost”, the swap market just calls it an early termination payment. In loans, traditionally, there was less time/energy spent to negotiate the provisions requiring the borrower to indemnify a lender for breakage costs. Today, however, it is a hot topic. Specifically, in the context of SOFR-loan prepayments where the concept of “Breakage Costs” is a nebulous/unclear concept, leaving some market ...

CFPB Announces LIBOR Transition’s Final Rule, Amending Provisions of Regulation Z

On December 7, 2021, the Consumer Financial Protection Bureau (“CFPB”) published its final rule (“Rule”) facilitating the transition away from LIBOR for open-end and closed-end consumer financial products. The Rule amends provisions of Regulation Z, which implements the Truth in Lending Act to allow for the transition from U.S. dollar LIBOR to the Secured Overnight Financing Rate (“SOFR”) and other alternative reference rates. SOFR is deemed compliant as a replacement index whereas other alternative reference rates must pass the “comparability” or ...

Can New US Law Help Increase Financial Recovery and Reintegration of Survivors of Human Trafficking?

The following was co-authored by Moore & Van Allen Financial Regulatory Advice & Response Senior Counsel Sarah Byrne; Dr Leona Vaughn, Vulnerable Populations Lead for FAST at UN University Centre for Policy Research; and Professor Barry Koch, former Commissioner of the Liechtenstein Initiative and co-founder of the SII, and was published by the United Nations University Centre for Policy Research on January 27, 2022.

The damaging impact of the trafficking experience on survivors is multifold. The harm is physical, psychological, as well as financial, and long-term. The global ...

FINRA Closes Out 2021 with Further Guidance on Pandemic-Related Issues for Member Firms

After extensive retrospective review of FINRA Rule 4370, which covers member firm business continuity plan (“BCP”) requirements during times of business disruption (such as the COVID-19 Pandemic), FINRA issued its Retrospective Rule Review Report entitled “Business Continuity Planning and Lessons From the COVID-19 Pandemic.”[1]  In doing so, FINRA issued guidance and summarized stakeholder feedback on such topics as the inspection and registration of temporary/remote offices, Membership Application Program (“MAP”) compliance for those offices, and the ...

About MVA White Collar Defense, Investigations, and Regulatory Advice Blog

As government authorities around the world conduct overlapping investigations and bring parallel proceedings in evolving regulatory environments, companies face challenging regulatory and criminal enforcement dynamics. We help keep our clients up to date in these fast-moving areas and to serve as a thought leader.

Stay Informed

* indicates required
Jump to Page

Subscribe To Our Newsletter

Stay Informed

* indicates required

By using this site, you agree to our updated Privacy Policy and our Terms of Use.