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Proskauer Rose LLP
The U.S. Commerce Department's Bureau of Economic Analysis (the "BEA") recently released the final version of the BE-180 report, a five-year benchmark survey that collects data on transactions between U.S. persons that are financial services providers and non-U.S. persons.
Overseas Shipping Group ("Overseas") recently sued its former attorneys, a prominent New York-based law firm, for legal malpractice in drafting credit agreements that resulted in the company incurring an estimated $463 million in tax liability.
Morrison & Foerster LLP
The SEC recently instituted proceedings against a registered investment adviser and its founder, CEO and majority shareholder for allegedly making material misstatements and omissions...
In a win for the collection industry, in Bentrud v. Bowman, Heintz, Boscia & Vician, the Seventh Circuit again declined to apply the Fair Debt Collection Practices Act to collection-related court proceedings.
Proskauer Rose LLP
The OCIE's cybersecurity examination initiative was launched in April 2014 to assess cybersecurity preparedness in the securities industry and gather information on common practices and trends among registered firms.
The proposal notes, however, that FinCEN anticipates addressing the application of customer identification program requirements to investment advisers pursuant to a future rulemaking with the SEC.
This article summarizes the complex and evolving regulatory framework for Marketplace Lending and provides suggested best practices for mitigating potential risk.
On August 20, 2015, the CFPB and the NYDFS filed a lawsuit against two companies and three of the companies' individual managers for deceiving consumers about the costs and risks of their pension advance loans.