Finance Law and Banking Law

A decade after the Cayman Islands introduced limited liability company legislation, the LLC has established itself as a viable alternative to the traditional exempted company structure. This analysis examines how the LLC is being deployed in fund finance transactions, the practical diligence and security considerations lenders face, and the framework for selecting between these two body corporate vehicles in financed structures.

Collateralised fund obligations (“CFOs”), rated note feeders and other highly structured fundraising vehicles are transforming the fund finance landscape.

Courts in Delaware and New York recently have dismissed with prejudice parallel putative class actions challenging mutual fund NAV accounting practices. The decisions are important victories for advisers to registered funds. Both cases asserted claims under the Securities Act of 1933, alleging that equity mutual funds misstated NAV by treating accrued dividends and realized capital gains as assets rather than liabilities.

If you are a Muslim homebuyer weighing a halal mortgage against a conventional one, the product that keeps you offside your faith may still put you offside the taxman in ways a conventional mortgage never would.

In the 2024 federal budget released on April 16, the federal government stated its intention to explore new measures to expand access to alternative financing products...

In residential transactions, Halal financing typically involves structures such as Murabaha (cost-plus sale), Ijarah (leasing), Musharakah (partnership), and Istisna'a (manufacturing contracts).

The Federal Deposit Insurance Corporation has proposed a rule that would fundamentally alter which state laws apply to banks operating across state lines, extending parity protections beyond physical branches to all services provided in host states. This modernization of the Riegle-Neal framework responds to the digital transformation of banking and recent litigation over state interchange fee laws.

On October 14, 2026, the Federal Reserve issued Supervision and Regulation Letter 26-8, updating eligibility criteria for state member banks and U.S. branches and agencies of foreign banks to qualify for an extended 18-month examination cycle rather than the standard 12-month cycle. The guidance follows amendments to the Federal Deposit Insurance Act under the 21st Century ROAD to Housing Act (previously discussed here), which increased the asset threshold for eligible institutions from $3 billion to $6 billion.

The Conference of State Bank Supervisors has released a comprehensive AI Supervisory Framework designed to guide state examiners in assessing artificial intelligence use at financial institutions. This framework provides a detailed roadmap covering governance, risk management, and examination procedures, with particular emphasis on generative and agentic AI applications. Financial institutions should consider using this framework proactively to evaluate their AI readiness and prepare for regulatory examinat

Collateralised fund obligations (“CFOs”), rated note feeders and other highly structured fundraising vehicles are transforming the fund finance landscape.

As FinTech companies mature beyond initial money transmission licensing and sponsor-bank arrangements, they face strategic decisions about specialized charters and hybrid regulatory structures. This article examines when Wyoming SPDIs, Puerto Rico IFEs, and modular licensing approaches become relevant for digital asset custody, international treasury, and institutional services.

Collateralized fund obligations (CFOs) have emerged as a sophisticated securitization tool for institutional investors seeking to monetize their private fund portfolios while retaining upside exposure. This analysis examines the unique structural, tax, and regulatory challenges that distinguish LP-led CFO transactions from their GP-led counterparts, revealing why these deals require more extensive preparation and specialized expertise to execute successfully.