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Bail-In Clauses in Loan Facilities in a No Deal Scenario
  • Sullivan & Worcester LLP
  • USA, United Kingdom, European Union
  • March 21 2019

Article 55 of the Bank Recovery and Resolution Directive (BRRD) (201459EU) requires Member States to ensure that a bail-in clause is included in


The Prudential Regulation Authority publishes Policy Statement updating its Supervisory Statement on Credit Risk Mitigation
  • Sullivan & Worcester LLP
  • USA, United Kingdom
  • March 13 2019

It relates to the use of different types of guarantees as unfunded CRM for the purposes of calculating capital requirements under the EU Capital


New Delaware LLC Right of Division
  • Sullivan & Worcester LLP
  • USA
  • November 8 2018

To maintain its national preeminence, the Delaware Legislature recently amended the State's Limited Liability Company Statute to grant Delaware LLCs


How to Pay for College: Tax Savvy Tips for Parents
  • Sullivan & Worcester LLP
  • USA
  • October 16 2018

Today, however, “higher education” is for all intents and purposes a necessity in order for Young adults to participate and prosper in our ever more


Après LIBOR: Black Swan or Y2K
  • Sullivan & Worcester LLP
  • USA
  • June 27 2018

Unquestionably, the London Inter-Bank Offered Rate ("LIBOR") is an integral part of nearly every type of financial product available in the financial


What Does the Dodd-Frank Relief Bill mean for Enhanced Prudential Standards for Foreign Banks?
  • Sullivan & Worcester LLP
  • USA
  • May 25 2018

On May 23, Congress passed a bill to revise Dodd-Frank to reduce regulatory burdens on banks. Just as with the original Dodd-Frank Act, the real work


FFIEC Examination Procedures for the Beneficial Ownership Rule
  • Sullivan & Worcester LLP
  • USA
  • May 16 2018

The FFIEC has updated its BSAAML manual effective May 5, 2018, to add a section on the new legal entity due diligence requirements and to update the


Customer Due Diligence and FinCEN’s Frequently Asked Questions
  • Sullivan & Worcester LLP
  • USA
  • May 9 2018

As you are aware, FinCEN’s Customer Due Diligence rules are effective in two days. In a nutshell, these rules require banks to obtain and verify the


Last Call for the OVDP Program!
  • Sullivan & Worcester LLP
  • USA
  • April 19 2018

The IRS has announced that the Overseas Voluntary Disclosure Program (OVDP), which has been around since March 2009, is about to be shut down


How Does the Fed Want to Regulate Foreign Banks?
  • Sullivan & Worcester LLP
  • USA
  • March 12 2018

On March 5, 2018, the Fed’s new Vice Chairman for Supervision, Randal Quarles, spoke at the Institute of International Bankers annual conference. He