In the wake of COVID-19, the SEC and FINRA are taking steps to support markets and market participants. By Dana G. Fleischman, Stephen P. Wink, and Deric Behar The US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority, Inc. (FINRA) continue to monitor and address ongoing impacts of COVID-19 to US capital … Continue Reading
Further economic measures provide support for small and mid-sized businesses, as well as state and local economies facing pandemic hardships. By Alan W. Avery, Pia Naib, and Deric Behar The Federal Reserve, in its continuing efforts to safeguard financial markets, provide stability to the financial system, and support the flow of credit in the economy, … Continue Reading
The three US federal banking agencies continue to take additional steps to promote the functioning of the financial system in the face of the pandemic. By Alan W. Avery, Pia Naib, and Deric Behar The three US federal banking agencies — the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit … Continue Reading
A summary of key COVID-19-related measures announced by the UK government to support businesses and workers. By Rob Moulton and Anna Lewis-Martinez Starting with the budget on 11 March 2020, the UK government has outlined significant measures to support British businesses and workers on an unprecedented scale during the COVID-19 outbreak. These measures include: the … Continue Reading
The FCA sets out its approach on client identity verification, supervisory flexibility over best execution obligations and 10% depreciation notifications, and financial resilience. By Rob Moulton and Anna Lewis-Martinez On 31 March 2020, the FCA published a Dear CEO letter to firms providing services to retail investors about COVID-19. The FCA makes it clear that it expects … Continue Reading
In three recent Client Alerts, Latham & Watkins lawyers examine how government measures to fight COVID-19 may affect French M&A transactions, key questions for French listed companies and high yield issuers, and how companies can respond to the impact on their current French law contracts. By Latham’s Mergers & Acquisitions, Capital Markets, and Litigation & … Continue Reading
UK regulators announce a further package of measures to ease the burden on issuers. By Chris Horton, James Inness, Rob Moulton, Koushik Prasad, Connor Cahalane, and Charlotte Collins In response to the COVID-19 pandemic, UK regulators have published further measures affecting issuers, to try to preserve the flow of information to investors and support the … Continue Reading
The FCA expects firms to use flexibility to support consumers, has delayed new publications, and extended deadline for responses to published consultations to 1 October 2020. By Rob Moulton, Jonathan Ritson-Candler, and Anna Lewis-Martinez The Financial Conduct Authority (FCA) has published a new webpage providing information on its expectations of firms’ response to the coronavirus. … Continue Reading
The self-regulatory organization responds to the US derivatives market’s shift to remote working arrangements. By Yvette D. Valdez, Carlos Alvarez, Brett M. Ackerman, J. Ashley Weeks, and Deric Behar As the novel coronavirus outbreak (COVID-19) continues to spread across the globe, causing various disruptions, derivatives regulators are addressing the resulting legal and regulatory uncertainty. This … Continue Reading
As COVID-19 disruptions unfold, FINRA has granted temporary relief regarding alternate working arrangements for broker-dealer employees. By Dana G. Fleischman, Stephen P. Wink, Naim Culhaci, and Deric Behar On March 9, 2020, the Financial Industry Regulatory Authority, Inc. (FINRA) issued Regulatory Notice 20-08 to members, reminding FINRA-member broker-dealer firms of their business continuity planning obligations … Continue Reading
