Worldwide: Financial Services

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Finance law and banking law thought leadership, articles, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics such as capital adequacy, BASEL, acquisition finance, debt capital markets, fund finance, islamic finance, securitization and structured finance.
Article
Know Your Stablecoin Customer: FinCEN And The Banking Agencies Propose Customer Identification Program Rules For Issuers
The U.S. Treasury's Financial Crimes Enforcement Network and federal banking regulators have proposed new customer identification program requirements for permitted payment stablecoin issuers under the GENIUS Act. The proposed rule would impose formal CIP obligations on nonbank stablecoin issuers for the first time, modeled on long-standing bank CIP rules but tailored to distinguish between primary and secondary market activities.
United States Finance
MB
Mayer Brown
Article
Taxpayers Are Receiving IRS Notices Demanding Bank Account Information: Be Alert For Scams
The IRS has begun issuing Notice CP53E to taxpayers whose direct deposit information is missing or invalid, but some notices may have been sent in error. Fraudsters are exploiting this confusion by distributing convincing fake versions of the notice designed to steal personal and financial information. Tax professionals and taxpayers must carefully verify all IRS communications before providing sensitive banking details.
United States Tax
MG
MGO CPA LLP
Article
The CFTC’s Proposed Prediction Markets Rule: A New Framework For Event Contract Regulation
The CFTC has proposed sweeping amendments to Regulation 40.11 that would fundamentally reshape how event contracts are evaluated for listing on designated contract markets. The new framework introduces a three-step inquiry process to determine whether contracts involving activities like gaming, terrorism, or war should be prohibited, with particular focus on sports-related event contracts and their settlement mechanisms.
United States Finance
D
Dechert
Article
Texas And Colorado Enter Into A Joint AML Enforcement Action Against Money Transmitter
Texas and Colorado banking regulators entered into a joint consent order with a money transmitter over alleged deficiencies in its anti-money laundering compliance program, including late federal reporting, inadequate agent monitoring, and customer information safeguard failures. The company agreed to pay $200,000 in penalties and retain an independent compliance consultant without admitting the allegations.
United States Finance
SM
Sheppard, Mullin, Richter & Hampton LLP
Article
VAT On Securitisation Servicing Costs
The Court of Justice of the European Union has ruled that loan servicing by an original lender after transferring loans to a purchaser does not qualify for VAT exemption, potentially creating significant tax costs for securitisation structures. This decision fundamentally challenges how credit management services are treated when the legal relationship between lender and borrower is severed, raising critical questions about VAT recovery in special purpose vehicle arrangements.
United States Tax
CW
Cadwalader, Wickersham & Taft LLP
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