The US Department of the Treasury and the Internal Revenue Service recently issued long-awaited proposed regulations under Section 4501 of the Internal Revenue Code regarding the 1% stock buyback excise tax. The tax applies to stock repurchases and “economically similar transactions” undertaken by publicly traded US (and certain foreign) corporations beginning on January 1, 2023.

On January 16, 2024, the comment period closed for the US banking regulators’ Basel III Endgame proposal. Nearly 200 comment letters were submitted from the financial sector, commercial user, and the general public.

Mayer Brown has been actively engaged on this important rulemaking. We have helped clients draft numerous comment letters, including for the

New Topics and Content Highlight FINRA’s Increased Focus on Cybersecurity, Crypto Assets, Artificial Intelligence, Market Integrity, Off-Channel Communications and Other Key Risk Areas

On January 9, 2024, the Financial Industry Regulatory Authority, Inc. (“FINRA”) published the 2024 FINRA Annual Regulatory Oversight Report (the “Report”), which builds on the structure and content of FINRA’s prior reports

The Financial Stability Oversight Council recently released its annual report.  Not surprisingly, this year’s report reviewed the banking failures in the early part of the year.  In discussing the “vulnerabilities in the banking sector” that resulted in the bank failures, the Report cited poor risk management practices and heavy reliance on uninsured deposits as

On 28 November 2023, the UK’s Financial Conduct Authority published its “Sustainability Disclosure Requirements (“SDR“) and investment labels” policy statement (PS23/16) (the “Policy Statement”). The Policy Statement introduces a set of new rules aimed at tackling greenwashing, including investment product sustainability labels and restrictions on how terms like “ESG”, “green” and “sustainable”

Webinar: November 6, 2023
3:00 p.m. – 4:00 p.m. ET
Register here.

The New York Department of Financial Services (NYDFS) has finalized its cybersecurity regulation for banks, branches and agencies of foreign banks, insurance companies, mortgage loan originators, mortgage loan servicers, mortgage brokers, licensed lenders, sales finance companies, money transmitters and other financial services

While the recent US Basel Endgame proposal will affect many elements of the capital rules, it will have a particularly significant effect on market risk, where it may increase the capital requirement by more than 50%. Midsize and larger US banking organizations and others with significant trading activity also will need to develop extensive position

Seminar November 13, 2023
9:00 a.m. – 12:45 p.m. ET

Register here.

Financial services firms’ corporate compliance programs continue to be under intense regulatory scrutiny and face immense challenges brought upon by the FinTech revolution. Many of the financial service regulators have been looking at these developments with a keen interest. The regulatory landscape

On October 16, 2023, the Division of Examinations (the “Division”) of the U.S. Securities and Exchange Commission announced its examination priorities for 2024. While the Division typically announces its examination priorities near the start of the calendar year, this is the first time that the Division has published its examination priorities this early, to align

On October 20, 2023, the US federal banking regulators announced that they were extending the period for public comment to January 16, 2024 for both the (i) Basel Endgame proposal to significantly revise the risk-based regulatory capital requirements for certain midsize and larger US banking organizations (the “Capital Proposal”) and (ii) proposal to change the