What You Need To Know
- The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued six new general licenses, and updated a seventh that allow for many activities related to: the export of Venezuelan oil and petrochemical
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You Don’t Have to Turn Back Time to Turn on the Lights
As more commercial tenants seek bankruptcy protection, the question of assuming or assigning their leases and what defaults need to be cured gets debated. Not all Circuits have decided these issues. The topic of non-monetary defaults seems to get the
FinCEN Grants Exceptive Relief to Streamline Beneficial Ownership Verification Requirements for Financial Institutions
What You Need to Know
Key Takeaway #1: FinCEN will no longer require covered financial institutions to identify and verify beneficial owners of legal entity customers each time the customer opens a new account at the institution, but rather only
EU Amendments to List of High-Risk AML/CTF Countries
Key Takeaways:
UK Government Seeks Evidence on Ownership and Control in Financial Sanctions Regulations
The UK’s Office of Financial Sanctions Implementation (OFSI) has launched a call for evidence concerning the “ownership and control” test within UK financial sanctions. The call for evidence, running until 11:59 p.m. on 13 April 2026, seeks stakeholder views on the
Proposed NY Legislation May Mean Potential Criminal Charges for Unlicensed Crypto Firms
On January 14, 2026, State Senator Zellnor Myrie proposed legislation in the New York State Senate that would amend New York law to make it a criminal offense to operate a virtual currency business in New York without the proper
Qatar Third-Party Dispute Funding: An Introduction
The financing of legal actions by third parties has grown exponentially since the early 2000s and is now common across many common law and civil law jurisdictions. It is still in its infancy in Qatar, but the Qatar International Centre
Optimum’s Shot Across the Bow: An Antitrust Challenge to Cooperation Agreements
Seeking to protect their investments in the face of increased liability management exercises, lenders began signing “cooperation agreements,” which required the lenders to cooperate when negotiating to restructure existing debt or provide new debt to their shared borrower. These cooperation
Asset-Based Lending: At Times Covenant-Lite, but Not Control-Lite
Asset-based lending (ABL) and adjacent areas of asset-focused finance continually shift towards the center ground of mainstream corporate finance. Flexibility, underpinned by collateral-driven risk, is in demand. The market continues to diverge (in some instances, becoming even more finely-tuned to
Governor’s Veto Limits Scope of New York LLC Transparency Act to Foreign LLCs Registered in New York
On December 19, 2025, New York Governor Kathy Hochul vetoed a bill that would have amended the New York LLC Transparency Act (“New York Act”) to include beneficial ownership information (“BOI”) reporting requirements for all non-U.S. and U.S. limited liability