by David Schwartz J.D. CPA | Oct 22, 2014 | All
In 2009, American International Group (AIG) sued the Internal Revenue Service (IRS) to recover approximately $306 million in denied tax credits. After negotiating a tortuous litigation process, the dispute has surfaced again in court. On October 17, 2014, AIG argued...
by David Schwartz J.D. CPA | Oct 19, 2014 | All, Change Overview and Rationale, Formal Regulatory Remedies
On June 25, 2014, the Securities and Exchange Commission finalized new rules and interpretive guidance addressing the cross-border application of a security-based swap regulatory framework called for under the Dodd-Frank Act. These final rules are the first of a...
by David Schwartz J.D. CPA | Oct 15, 2014 | All, Change Overview and Rationale, Formal Regulatory Remedies
Securities financing transactions such as repos are important funding tools for a wide range of market participants, including non-bank financial firms. The implementation of the numerical haircut floors on securities financing transactions will reduce the build-up of...
by David Schwartz J.D. CPA | Oct 15, 2014 | All, Change Overview and Rationale, Formal Regulatory Remedies
The European Securities and Markets Authority is seeking input on its plans for mandatory central counterparty clearing of foreign exchange non-deliverable forwards (FXNDF). FXNDFs are cash-settled foreign exchange forward contracts that cannot result in physical...
by David Schwartz J.D. CPA | Sep 23, 2014 | All, Change Overview and Rationale, Formal Regulatory Remedies
Following its September meeting in Cairns, the Financial Stability Board (FSB) has published a press release highlighting some of the vulnerability the FSB still sees as threatening the global financial system. The release also lays out some work plans for some of the...
