It is with heavy hearts that we bid farewell to our dear friend and esteemed colleague, Clemente Vazquez-Bello. On April 17, 2013, Clemente died peacefully, surrounded by his loving family, after an ongoing battle with cancer.
Banking & Financial Services
Our attorneys keep clients in the know when it comes to how the law affects business. Read Gunster’s blog for timely and important updates on legal and business matters, straight from our attorneys to you.
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S.E.C. Takes a Harder Line on Admissions of Guilt
Earlier this month, the S.E.C. changed its long standing practice of allowing defendants of securities violations to “neither admit nor deny” criminal wrongdoing. This change is effectively the S.E.C.’s response to critics that say that the agency should not let criminal defendants simply pay a fine and avoid an admission of guilty. The new policy […]
Want to Sign Up for Regulation by the Federal Reserve?
Considering the time and expense it takes to comply with many of the Federal Reserve rules, it seems odd that any company would volunteer to be regulated. But some want to sign up. In particular, some foreign companies that own a securities broker or dealer are required to register in the U.S. to do business […]
More Costs to Pile on Public Companies?
On August 16, 2011, the PCAOB issued a concept release seeking comments on ways that auditor independence, objectivity, and professional skepticism could be enhanced. While the PCAOB seeks advice on any approach, the concept is focused on mandatory audit firm rotation. Consequently, the release could lead to companies having to change their auditors every few […]
Banks Likely to be the Sole Focus of New Consumer Protection Agency
The Dodd-Frank Act enacted last July directed the Department of the Treasury to establish the Consumer Financial Protection Bureau (“CFPB”), a new federal agency whose primary purpose is to educate the public about certain consumer financial products and services as well as to regulate the providers of such products and services. The entities over which […]
New Rules on Interest Reporting for Nonresident Aliens Proposed – Everything Old is New Again
Earlier today (January 6, 2011), the Internal Revenue Service issued new proposed regulations which, if finalized, will require annual reporting of interest paid on deposits maintained by nonresident aliens at U.S. offices of certain financial institutions. These new proposed regulations replace ones that were issued in August 2002 (the “2002 Proposed Regs”), which themselves replaced […]
Banks are Slower to Recover Because of Real Estate Dependence
A recent article by Wayne Tompkins in the Daily Business Review states that ‘South Florida’s dependence on real estate is keeping both its banks and its economy bogged down even as the banking industry nationwide is showing measurable signs of recovery.’
