Latham, Davis Polk and Wachtell Lipton advising as First Interstate Bank acquires Great Western

US banks First Interstate and Great Western are set to combine in an all-stock transaction to create a Midwest behemoth, as an investor rights firm attempts to gather shareholder support against the …

BoE clarifies settlement finality requirements for FMIs

The Bank of England has set out its approach to monitoring third-country systems designated under the UK’s Settlement Finality Regulations.

Jones Day hires from JPMorgan Chase, Reed Smith hires from Jones Day

Jones Day has hired an in-house fintech specialist at JPMorgan Chase for its New York financial markets practice, as Washington, DC partner Lisa Ledbetter departs for Reed Smith.

From Lexology
India: proposed scale-based governance frameworks for NBFCs

The dominance of non-banking financial companies (NBFCs) in the fintech space and the reliance that retail users place on payments systems that NBFCs manage and operate has led to increasing concern about …

Legislating for the LIBOR transition: synthetic LIBOR for tough legacy contracts

With less than four months to go before the FCA turns off the supply of daily LIBOR (in its well-used form) for most of the 35 currency-tenor…

UK Financial Conduct Authority consults on powers to cancel firms’ regulatory permissions

On 9 September 2021, the UK Financial Conduct Authority (FCA) published Consultation Paper 21/28 “New Cancellation and variation power: Changes to…

Regulation of the non-bank sector in Australia

Financiers which are not regulated by the Australian Prudential Regulation Authority (APRA) ADI’s or consumer credit code regulated credit providers…

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