Paul Hastings has strengthened its London finance offering by hiring Reena Gogna, a leveraged finance partner from Weil, Gotshal & Manges. Gogna joins Paul Hastings after nearly a decade at Weil’s banking and finance practice. The move comes in the wake of the departure of Luke McDougall, previously the global co-head of Paul Hastings’ finance…
When Daniel Seale joined Latham & Watkins in 2003, he encountered a budding form of financing known as direct lending, a niche virtually dominated by GE Capital. This early exploration of private credit by Seale and his colleagues was a foresighted move, considering the sector’s subsequent proliferation. Private credit has since surged to a $1.7…
Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel. Latham & Watkins, Perkins Coie, Orrick, and Sidley Austin have each closed their Shanghai offices, or said they will close them, as “a dearth of financial activity and depressed business sentiment” forces the firms…
Norton Rose Drafts Partner Bohr to London Banking, Finance Team In a strategic move aimed at bolstering its banking and finance capabilities, Norton Rose Fulbright has announced the addition of Bernd Bohr as a partner in its London office. According to Norton Rose Fulbright, Bohr brings extensive expertise in capital markets and lending transactions, with…
Global law firm, Kramer Levin Naftalis & Frankel LLP, has recently expanded its team with the addition of Clément Vandevooghel to the banking and finance department as a partner. Vandevooghel will be operating out of the Paris office, lending his expertise to the firm’s clients on complex financial matters. Vandevooghel evidently comes with an impressive…
Jones Day is set to expand its banking and finance practice in Australia with the addition of two new partners. Former Baker McKenzie partner Alastair Gourlay, who brings to the table more than 20 years of rich experience, will be joining Jones Day’s office in Sydney. He has extensive experience representing financial institutions, investors, and…
In a recent announcement, Norton Rose Fulbright confirmed the addition of Beelee Seah to its banking and finance team in Singapore. Seah, who formerly served at Baker McKenzie, has acquired considerable expertise in structuring and implementing cross-border financial transactions with a focus on fund financing and the Vietnam market. Now operating as a partner at…
Law firm Hogan Lovells has broadened its footprint in Paris, hiring a six-lawyer team that includes the former French energy regulator. This move strengthens their regional presence and signals an ambitious growth strategy within the French market. The legal sector in France has also seen other significant strategic changes recently, with veteran banking and finance…
Hogan Lovells has expanded its Paris office with the hiring of a six-lawyer team, including a former French energy regulator. This strategic hire aligns with the firm’s expansion strategy in the energy sector given the team’s specialty in energy regulations and transactions. Details on the new hires are limited due to a paywall. Interested parties…
In recent developments, a former Morgan Stanley banker, penalized in a pivotal block-trading investigation that shook Wall Street, has moved to a firm that was privy to confidential data he had leaked. The unscrupulous disclosure of privileged information in the banking sector, particularly within large financial corporations like Morgan Stanley, is concerning for many legal…
Yechiel Belfer has recently been recruited by Dentons and will serve as a new banking and finance partner in their Melbourne office, as announced on their official website on Tuesday. Mr. Belfer specializes in the regulation of financial services and consumer credit in payments and cross-border sectors. His vast experience and in-depth understanding of this…
A former partner at New York litigation firm Moses Singer is alleging gender discrimination, sexual harassment, unequal pay, and withheld work opportunities, according to a recent article from Bloomberg Law. Meghan Daneshrad alleges that all these happened prior to her termination, which she deems is a retaliatory move. Daneshrad claims that she was unjustly fired…
The New York-headquartered law firm, Skadden, Arps, Slate, Meagher & Flom LLP, has enhanced its team with the addition of Sebastian FitzGerald as a partner in its banking group. The news, announced by the firm on Wednesday, marks a significant strategic development for Skadden’s operations in London. The new partner was formerly attached to Willkie…
Noted South African firm, Bowmans, has attracted a significant new asset in the form of Pride Jani, a longstanding figure in banking and finance law. Formerly a director of DLA Piper for half a decade, Jani’s move adds to Bowman’s well-established reputation in the financial and corporate law sector. Read the original article here
In a step signalling change, the Consumer Financial Protection Bureau (CFPB) gave green light to a pilot program addressing construction loans. This approval followed an application submitted by a community banking trade organization indicating a significant shift in the existing regulatory landscape. The application, prepared under the CFPB’s trial policy programs that fall under Section…
On November 16, the Office of the Comptroller of the Currency (OCC) disseminated a list of fresh enforcement actions directed at national banks, federal savings associations, and persons presently and previously affiliated with these institutions. This significant piece of information was announced by Orrick, Herrington & Sutcliffe LLP. Among these enforcement actions, a prominent feature…
The Consumer Financial Protection Bureau (CFPB) recently approved an application from the Independent Community Bankers Association (ICBA) for alternative disclosures under the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure (TRID) rule for construction-to-permanent loans. This approval is specifically for a Trial Disclosure Program Waiver Template (TDP Waiver Template). However, it’s…
In a recent turn of events, The Federal Reserve Board made an announcement on November 27, 2023, related to the technical aspects of reserve requirements for depository institutions. In 2024, these institutions can expect their reserve requirements to maintain the status quo, remaining firmly at zero. (JD Supra). In addition to this, a significant release…
On November 6, 2023, a vital joint notice was notably released by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”). The notice concerned the introduction of a new Suspicious Activity Report (“SAR”) reporting term, efficiently named “FIN-2023-GLOBALEXPORT.” This new term…
Greenberg Traurig, one of the leading international law firms, has recently welcomed Luke Lado as a new shareholder. Lado has joined the firm’s banking and finance practice division within their London office, a move confirmed by the firm on Monday, according to a recent news update by Bloomberg Law. A veteran of the financial law…
Good day to all our corporate and legal associates around the globe. Today we bring you an important update from the world of financial regulation. As some of you may know, the Federal Deposit Insurance Corporation (FDIC) Board of Directors made a significant move on November 16, 2023. In response to the closures of Silicon…
In a significant development in cannabis banking legislation, The SAFER Banking Act passed the Senate Banking Committee with a historical bipartisan vote of 14-9 on September 27. This marks the maiden time a version of this piece of legislation cleared a Senate Committee, seven years after its initial introduction in Congress in 2013. This information…
In a significant legal development, one of the nation’s largest banks has agreed to a $26 million settlement following charges that it had engaged in discrimination against credit card applicants it perceived as Armenian-American. The announcement, made on November 8, 2023, by the Consumer Financial Protection Bureau (CFPB), underscores the continuing importance of vigilance against…
The Consumer Financial Protection Bureau (CFPB) issued a novel report on state Community Reinvestment Act (CRA) laws on November 2. The revelations contained within the report lined out that many states had officially adopted CRAs, following in the footsteps of the federal Community Reinvestment Act established in 1977. The individuality of each state has played…
On October 11, 2023, Orrick, Herrington & Sutcliffe LLP co-hosted a fireside chat with the South Asian Bar Association of New York and Cloaked, featuring Rohit Chopra, director of the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”). The event served as a platform for Director Chopra to share not only insights about his professional…