The Securities and Exchange Commission (SEC) is reportedly investigating the private equity world’s “continuation vehicles.” As Reuters reported Wednesday (June 24), continuation vehicles (CVs) are a type of fund usually employed by private equity outfits and other money managers to hold on to assets they...
Alibaba Group sued the U.S. Department of Defense Tuesday (June 23), seeking to be removed from a list of companies the Department says are supporters of the Chinese military. The Department published the list earlier this month, and Alibaba argues in its lawsuit that the...
Watch more: How Technology Is Transforming Foreign Investment Reviews The questions surrounding a cross-border acquisition don’t stop with ownership or market share. Governments increasingly want to understand what technologies are changing hands, who controls them and whether those assets could affect economic resilience or national...
The attorneys general of four states are looking into FIFA’s ticketing practices around the World Cup. California, New Jersey, New York and Texas have announced investigations over the last month or so. Law firm Frankfurt Kurnit Klein & Selz outlined the investigations in an article posted Thursday (June 18) on Mondaq. California...
Five trade groups said Thursday (June 18) that the federal banking agencies’ Basel capital proposal released in March should be altered to eliminate areas of overcapitalization and better align capital charges with risk. The Bank Policy Institute, the American Bankers Association, the Financial Services Forum, the U.S. Chamber of...
Five federal agencies are seeking public comment on a proposal to require certain payment stablecoin issuers to maintain a customer identification program. “The proposal would introduce requirements for these stablecoin issuers that are comparable to customer identification program requirements for banks and credit unions,” the...
Two lawmakers have asked the Financial Crimes Enforcement Network (FinCEN) to ensure that reducing unnecessary compliance burdens and prioritizing high-risk financial crimes in its enforcement efforts are part of its current rulemaking process. House Committee on Financial Services Chairman French Hill (R-Ark.) and Subcommittee on...
The Commodity Futures Trading Commission (CFTC) is looking for ways it can make it easier for FinTech firms to partner with federally regulated institutions. The regulator has issued a Request for Information that will assist it in identifying regulations, guidance documents, orders, no-action letters and...
The CFPB has rescinded six-year-old guidance for lenders on offering special purpose credit programs (SPCPs). A filing published by the Consumer Financial Protection Bureau (CFPB) Wednesday (June 17) in the Federal Register revoked guidance issued in 2020 designed to clarify how for-profit lenders could establish SPCS, which are credit...