What Do Lawyers and In-House Counsel Really Think About Litigation Finance? Litigation finance—when investors back pending legal cases in exchange for a cut of the proceeds—continues to gain traction here in the U.S. despite lingering concerns that the practice may violate historic prohibitions on third-party funding of lawsuits, as WSJ reported on Monday. How much…
Banks Burdened With Compliance Costs Outsource Home Loans As banks lose money on mortgages and retreat from the business, PHH Corp. is rushing to cash in. PHH, the biggest U.S. outsourcer of home loans, processes and originates mortgages on behalf of small banks and some of the world’s largest financial firms, including Morgan Stanley and…
Global Anti-Money Laundering Survey 2014, KPMG KPMG launched its online survey in November 2013. The survey was distributed to AML and compliance professionals in the top 1,000 global banks, according to the 2013 edition of The Banker Magazine, as well as to KPMG’s AML contacts in over 40 countries. The overarching aims of this year’s…
Canada: Clearing Of Derivatives Comes /Carol E. Derk, Borden Ladner Gervais LLP, Jan. 9, 2014/ – Proposed Model Provincial Rule on Mandatory Central Clearing of Derivatives (the “Rule”) and proposed related explanatory guidance were published by the Canadian Securities Administrators as CSA Staff Notice 91-303 on December 19, 2013. The Rule describes the proposed requirements…
Ontario Securities Commission Publishes Final Derivatives Rule: Product Determination and Derivatives Trade Repositories and Data Reporting, Posted on CNW TORONTO, Nov. 14, 2013 /CNW/ -The Ontario Securities Commission (OSC) today published OSC Rule 91-506Derivatives: Product Determination and OSC Rule 91-507 Trade Repositories (TR) and Derivatives Data Reporting (DR), the first set of harmonized derivatives rules which intend to bring greater…