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Last week, BakerHostetler celebrated the 30th anniversary of its Annual Legislative Seminar. This two-day premier policy showcase in Washington, D.C., allows clients to listen and interact firsthand with key members of the U.S. House and Senate. Led by Federal Policy team leader Mike Ferguson, the seminar featured senior lawmakers who shared a range of policy insights and perspectives. The evening before the seminar, BakerHostetler hosted firm clients for dinner at the Smithsonian National Museum of…
Last week, BakerHostetler celebrated the 30th anniversary of its Annual Legislative Seminar. This two-day premier policy showcase in Washington, D.C., allows clients to listen and interact firsthand with key members of the U.S. House and Senate. Led by Federal Policy team leader Mike Ferguson, the seminar featured senior lawmakers who shared a range of policy insights and perspectives. The evening before the seminar, BakerHostetler hosted firm clients for dinner at the Smithsonian National Museum of…
Amid growing alarm on Capitol Hill over cybersecurity and data privacy, new Senate legislation would require publicly traded companies to disclose in Securities and Exchange Commission (SEC) filings whether they have cybersecurity experts on their boards of directors – and if not, explain why. Sen. Jack Reed, D-R.I., said his legislation is meant to encourage companies to be more transparent about whether and how their boards and senior management are prioritizing cybersecurity. His bill…
In the wake of bipartisan criticism from Congress over sweeping new accounting rules for the banking industry, the Financial Accounting Standards Board (FASB) is hosting a roundtable discussion today on its controversial current expected credit loss (CECL) rules. Many financial institutions – and several members of Congress – have called on FASB to delay implementing the new standard, citing its impact on credit availability and affordability as well as the added burden on financial institutions.…
The Democrats’ takeover of the House will hand a key committee gavel – and the power to issue subpoenas – to one of President Donald Trump’s fiercest critics. It also will trigger aggressive oversight of the Trump administration, especially its drive to defang the Consumer Financial Protection Bureau (CFPB) and to roll back Dodd-Frank financial rules. Here are five things to know about how the elections will impact financial services policy in 2019:…
Last month the House overwhelmingly approved a package of rifle-shot changes to financial services laws, but competing priorities and election-year politics are complicating its consideration in the Senate. Dubbed the JOBS and Investor Confidence Act, or JOBS Act 3.0, the legislation is designed to facilitate capital formation for early-stage companies and to incentivize them to list on public exchanges. The bill won House approval 406-4.…
Virtual currencies are attracting unprecedented worldwide attention from not only businesses and investors but also U.S. policymakers. The increasingly intense interest in virtual currencies is fueled by all-time highs in the price of bitcoin and other virtual currencies, excitement generated by the flood of POCs (proofs of concept) using the underlying technology, the frenzy of fundraising stoked by initial coin offerings (ICOs), and the additional demand created by unfortunate ransomware attacks. At the recent Consensus 2017…