Global Financial Markets

The UK National Security and Investment Act 2021 (the "Act") entered into force on January 4, 2022 and enables the UK government to screen, block and unwind certain transactions on national security grounds. A new body, the Investment Security Unit ("ISU"), is responsible for the operation of the new regime. The Act provides for mandatory prior notification and approval of certain transactions in...

Since January 2021, the Biden administration has signaled that it intends to ramp up anti-money laundering (AML) regulation and enforcement. That was reinforced late last year when the administration issued its comprehensive Strategy on Anti-Corruption, which declared that combating illicit finance is one of its principal goals. The strategy highlights how regulators and law enforcement officials...

In response to the recent devastating events in Ukraine, many jurisdictions have imposed a broad range of new sanctions and export controls focused on the Russian state and certain Russian businesses and individuals. The new sanctions and export control regimes of the EU, the UK and the US have been evolving in real time over the past couple of weeks, and there are important but subtle differences...

Rohit Chopra took over the helm of the CFPB last fall and has already started to make his mark on the agency, bringing a decidedly antitrust focus to his new role. Mayer Brown partners Ori Lev and Stephanie Robinson for a discussion of Chopra's first six months, including the CFPB's use of its Section 1022 authority, notable enforcement actions and other policy developments.

After two years of responding to the pandemic, US banking regulators likely will refocus this year on forward-looking issues. In particular, the following issues are expected to occupy a significant portion of the regulators' time in 2022: Regulatory Capital Rule Revisions Climate-Related Risk Management Expectations Digital Asset Activities Fintech Bank Charters Third-Party Vendor Risk Management...

Late last year, a federal district court ruled that securitization trusts holding student loans might be liable for the alleged unfair and deceptive collection practices of the trusts' servicers. This is the first time that the US Consumer Financial Protection Bureau (CFPB) has sought to hold a securitization trust liable for acts of its servicers and the first judicial decision addressing the CFP...

Mayer Brown partners James Antonopoulos, Amanda Baker, Steven Garden, Brian Kuhl, Eric Mitzenmacher, Ger O'Donnell and Jan Stewart discussed "What to Expect in 2022" in the structured finance markets. They examined some of the key opportunities and challenges this new year will bring to market participants and discuss trending topics and the current regulatory landscape. Topics included updates on...

Last month, the US Office of the Comptroller of the Currency (OCC) issued the second part of its initiative to address the effects of climate change—draft principles for managing exposure to climate-related financial risks. Those principles and the OCC's earlier call to action to bank boards portend that the rapid implementation of climate risk management practices could occupy a significant amoun...

Phase 6 of the Global Margin Rules applies from September 1, 2022, and may affect pension funds and other counterparties. September 2022 seems a long way off, but market deadlines are looming as early as January 2022. Join Margin Reform CEO Shaun Murray and Mayer Brown partners Edmund Parker and Edward Jewitt as they discuss this expansion, which captures pension funds with over £/€8bn of uncleare...

Last month, the US Office of the Comptroller of the Currency (OCC) issued a call to action on climate change to the boards of directors of large OCC-regulated banks. Based on that call to action, all bank boards should consider asking their institutions about enhancing climate change-related risk management practices. While this will be a long-term effort that will include further guidance from th...

As inbound investment into the United States from overseas continues to grow, many investors from the Middle East and South East Asia are seeking means by which they can invest in US assets in a manner that complies with their religious beliefs. Please join Mayer Brown partner Barry Cosgrave for an overview of Islamic finance and some of the key structures that are used to put these structures int...

Please join Mayer Brown senior Public Policy, Regulatory & Political Law partners Andrew Olmem and Jonathan Becker as they provide an update on several of the most important issues under debate in Washington. They will discuss the prospects for the passage of the Biden administration's Build Back Better Plan and infrastructure bill; whether and how Congress will increase the statutory debt limit;...

Lenders to and investors in Buy Now, Pay Later (BNPL) businesses should be alert to the due diligence issues that may arise in this fast-growing industry. Please join Mayer Brown partners Amanda Baker, Steve Kaplan, Eric Mitzenmacher and Elizabeth Raymond for an overview of emerging issues in this space. Our lawyers will focus on the unique regulatory issues raised by BNPL products and possible wa...

The Consumer Financial Protection Bureau (CFPB) has been active on many fronts, notwithstanding the absence of a Senate-confirmed director. Please join Mayer Brown partners Ori Lev and Stephanie Robinson and associate Christa Bieker to discuss CFPB developments over the past months.

The way consumers purchase goods and services is rapidly changing, and insurance is no exception. AI, advanced analytics, smart devices and other technologies are enabling new capabilities, and insurance companies, together with their Insurtech and Big Tech partners, are finding innovative ways to reach and service customers using these tools. Join Mayer Brown partners Rohith George, Paul Chen and...

Join Mayer Brown partners Tamer Soliman, Thomas So and Duncan Abate as moderator as they discuss the Biden administration's impact on the vitally important US-Sino relationship. The discussion will consider changes in the ongoing trade war, political and human rights issues and other bilateral concerns.

Following the Federal Housing Finance Agency's (FHFA) recent restrictions on Government Sponsored Enterpise (GSE) investments in loans secured by second homes and investment properties, private label securitizations have become more attractive. Join Mayer Brown partners Haukur Gudmundsson, Kris Kully, Tameem Zainulbhai and associate Jenna Siebold as they provide an overview of these transactions.

Banking as a Service ("BaaS") refers to arrangements where licensed banks integrate their digital banking services directly into the products of other non-bank businesses. Join Mayer Brown partners David Beam, Rohith George and Joe Pennell and associate Julian Dibbell as moderator as they discuss these arrangements and how they compare to traditional technology outsourcing and other types of bank-...

Elizabeth Espín Stern and Carl Risch, partners in Mayer Brown's Global Mobility & Migration practice, will provide an overview of the immigration challenges facing the Biden administration, focusing on business immigration and workforce mobility. They will also provide an update on the COVID-19 travel restrictions and an overview of the US Department of State's current policy for granting national...

The cornerstone of the $6.5 trillion-plus interest rate derivatives market, the ISDA Definitions booklet—which provides contractual terms, elections and fallbacks for the derivatives market—is receiving its first major "root and branch" update since 2006. Mayer Brown partners Ed Parker, Chris Arnold, Patrick Scholl, Bradley Berman and Vincent Sum continue their discussion of the key changes—what t...

Ed Parker, Chris Arnold and Patrick Scholl, partners in Mayer Brown's Derivatives & Structured Products groups, will discuss the release of the 2021 ISDA Definitions. The cornerstone of the $6.5-trillion-plus interest rate derivatives market, the ISDA Definitions—which provides contractual terms, elections and fallbacks for the derivatives market—is receiving its first major "root and branch" upda...

With President Biden signing last week the executive order "Climate-Related Financial Risk," the administration appears to be accelerating its efforts to incorporate ESG factors into financial regulation. To understand how these developments are likely to play out, please join Mayer Brown partners Paul Forrester and Andrew Olmem, who will discuss the future of ESG regulation for US financial insti...

Join Krista Cooley and Frank Doorley of Mayer Brown's Consumer Financial Services team as they discuss recent state licensing and enforcement developments important to participants engaged in financing, purchasing or investing in consumer and small business credit.

Andrew Olmem and Jonathan Becker, partners in Mayer Brown's public policy group, will provide an overview of the spending priorities in the Biden administration's nearly $2 trillion infrastructure proposal, titled the "American Jobs Plan." They will focus on the Biden administration's proposal to fund various infrastructure programs and initiatives and possible opportunities for developers and inv...

On this call, Anna Pinedo, Jeff Taft and Matt Bisanz from Mayer Brown will discuss how the revisions affect banks and deposit brokers and what the industry needs to know in advance of the January 1, 2022, compliance date.