In December 2015, President-elect Trump called for “a total and complete shutdown of Muslims entering the United States until our country’s representatives can figure out what is going on.” This idea of a Muslim ban has taken many iterations with the...
More and more, electronically stored information (ESI) is being collected as evidence for criminal cases. The latest example came to light over the new year in the Washington Post article, “Can Alexa help solve a murder? Police think so — but Amazon...
With contributors across the sector and the globe, we've compiled a review of some of the developments that will affect financial institutions in 2017 and beyond. The one thing that 2016 taught us was to expect the unexpected but there is certainty...
We have previously written about the Congressional Review Act (“CRA”), which was enacted as part of the Contract with America Advancement Act of 1996. The CRA created a fast-track legislative process for Congress to nullify a covered federal rule by...
The New York Department of Financial Services (NYDFS) recently issued a revised proposed regulation seeking to add its own mandate of cybersecurity requirements to those already in existence for banks, insurance companies and other financial services...
On January 9, 2017, Venezuela's President Nicolás Maduro announced a 50% increase in the monthly minimum wage for the private and public sectors, effective January 1, 2017. Minimum Wage Increase - The new minimum wage has been set at 40,638.15...
In December, the Kentucky Department of Financial Institutions issued a memorandum interpreting the Mortgage Licensing and Regulation Act (Ky. Rev. Stat. Ch. 286.8) as requiring master servicers and sub servicers to be licensed as...
On Jan. 6, 2017, Janis Edwards, the owner of a professional employer organization, pleaded guilty to tax evasion arising from failing to pay over to the IRS between $3.5 million and $25 million in withholdings that her organization had collected from...
The New York State Division of Tax Appeals has issued a determination regarding the proper methodology for sourcing electronic service receipts under Article 9-A of the pre-reform Tax Law. The taxpayer prevailed in overcoming the Department’s attempt...
The Financial Industry Regulatory Authority (“FINRA”), the self-regulatory organization for broker-dealers, brings about 1,500 enforcement actions a year. Often lost in the volume of actions, however, are the ones that merit particular attention...
