Search Results (13399)
Documents on banking financial services
Show: results per page
|Letters of Credit: Privy Council Reaffirms Autonomy Principle|
David Williams; Dentons Canada LLP;
January 10, 2015, previously published on December 11, 2014The autonomy principle is fundamental to the utility of letters of credit (LCs). Under this principle, a bank must pay against a presentation of documents that appear on their face to comply with the credit. This obligation is "autonomous" from the underlying transaction. In a recent...
|Restructurings - Don't Forget the Tax Man|
Hayley Capani, Sonia Jordan; Dentons Canada LLP;
January 10, 2015, previously published on December 11, 2014When undergoing a restructuring, a borrower/officeholder's main focus is often the company's lenders. However, there are occasions when HMRC's agreement can be just as key to ensuring any process runs smoothly. In this article, Sonia Jordan and Hayley Çapani discuss some key areas where...
|CSBS and NYDFS Issue Cyber Security Guidance for Banks|
Christina M. Gattuso, Erich M. Hellmond, Erich G. Oliffer, Kevin M. Toomey; Kilpatrick Townsend Stockton LLP;
January 10, 2015, previously published on December 19, 2014The Conference of State Bank Supervisors (the ¿CSBS¿) and the New York Department of Financial Services (the ¿NYDFS¿) recently issued valuable guidance for financial institutions regarding cyber security. On December 10, 2014, the NYDFS issued a guidance letter to all NYDFS-regulated banks...
|Sanctions Confirmations in Facility Agreements - Is There a Market Standard?|
Adam Pierce; Dentons Canada LLP;
January 10, 2015, previously published on December 11, 2014In the European loan markets, it is increasingly common for lenders to require their borrowers (and other "Obligors") to provide sanctions-related representations and undertakings (sanctions confirmations) in their facility agreements. Adam Pierce considers whether any pattern is emerging...
|New NBU “Anti-crisis” Measures|
Natalie Selyakova; Dentons Canada LLP;
January 9, 2015, previously published on December 3, 2014New Resolution No. 758 of the Board of the National Bank of Ukraine dated 1 December 2014 (the “Resolution”) enters into force as of 3 December 2014. This Resolution was adopted to replace the earlier “anti-crisis” Resolution of the NBU No. 540 dated 29 August 2014, as...
|Uganda Goes Down The PPP Route|
Dominic Spacie; Dentons Canada LLP;
January 9, 2015, previously published on December 11, 2014In July 2014, Uganda joined the list of African countries that have implemented Public Private Partnership or "PPP" laws, by passing the Public Private Partnership Bill 2012 (the PPP Law). As in many African countries, improving Uganda's infrastructure is seen as a key step in unlocking...
|FFIEC Releases 2014 BSA/AML Examination Manual|
Neal C. Wise; Jones Walker LLP;
January 7, 2015, previously published on December 4, 2014On December 2, 2014, the Federal Financial Institutions Examinations Council ("FFIEC") released the 2014 Bank Secrecy Act/Anti-Money Laundering Examination Manual ("Exam Manual"). The update marks the first time since 2010 that the FFIEC has updated the Exam Manual, although...
|Governor Patrick Proposes State Budget Cuts; Speaker DeLeo Opposes|
George K. Atanasov, Julie Cox, Amarynth Sichel; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
January 6, 2015, previously published on November 20, 2014This morning Speaker of the House Robert DeLeo indicated that he will not support the Governor’s plan to trim the state budget to close a projected $329 million mid-year budget gap.
|Does a Secured Party Remain Perfected in a 'Sub-Account' Created Post-Closing? It Depends.|
Bruce A. Wilson; Kutak Rock LLP;
December 30, 2014, previously published on November 5, 2014An interesting case on securities accounts from the United States Bankruptcy Court for the Eastern District of Pennsylvania addressed the issue of whether a creditor’s perfected security interest in a securities account remained perfected in sub-accounts that were created post-closing. In re...
|Usury in Florida: Exceptions to Civil Penalties|
Scott Jonathan Kennelly, Janet C. (Jacy) Owens; Rogers Towers, P.A.;
December 29, 2014, previously published on November 13, 2014When a lender “willfully” charges interest in excess of statutory limits, civil usury penalties may apply. However, Florida’s usury statutes provide for two exceptions to the application of civil usury penalties.