Susanna M. Buergel

Jun 10, 2024 | lexology.com | Jarryd E. Anderson |Susanna M. Buergel |Jessica Carey |Roberto González |Brad S. Karp |Jeannie S. Rhee | +1 more

On June 3, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a novel and expansive rule requiring certain nonbank providers of consumer financial services to register specified information with the agency in a public registry.[1] The 486-page final rule (“Final Rule”), which is scheduled to take effect September 16, requires nonbank companies that have been subject to certain final public enforcement orders by federal, state, or local agencies involving consumer financial...

Feb 15, 2024 | lexology.com | Walter Brown |Susanna M. Buergel |Jessica Carey |John Carlin |Andrew J. Ehrlich |Roberto Finzi | +8 more

During the third year of Chair Gary Gensler’s and Director of Enforcement Gurbir Grewal’s leadership, several key enforcement priorities for the SEC impacted and will likely continue to impact businesses across a range of sectors for years to come. In this year in review, we highlight important takeaways for business leaders and in-house counsel from the Division’s activities in 2023, and what these activities suggest for the Division’s priorities for the year ahead.

Jan 29, 2024 | lexology.com | Jarryd E. Anderson |H. Christopher Boehning |Susanna M. Buergel |Jessica Carey |Michael E. Gertzman |Roberto González | +3 more

Introduction On January 22, 2024, the New York State Department of Financial Services (“NYDFS”) issued final Guidance (the “Guidance”) for most institutions holding a license from the NYDFS[1] (“Covered Institutions”) setting out NYDFS’s expectation that Covered Institutions engage in rigorous character and fitness assessments of directors, senior officers and managers, both at onboarding and on an ongoing basis.[2] The Guidance reflects an ongoing effort by policymakers and regulators to...

Jan 11, 2024 | lexology.com | Susanna M. Buergel |Geoffrey R. Chepiga |Yahonnes Cleary |Andrew J. Ehrlich |Daniel Kramer

On December 26, 2023, the Second Circuit in In re Philip Morris Int’l Inc. Securities Litigation issued a decision on two matters of first impression relating to falsity in the securities fraud context.

Nov 15, 2023 | lexology.com | H. Christopher Boehning |Susanna M. Buergel |Jessica Carey |John Carlin |Jarryd E. Anderson

On November 3, 2023, members of the Financial Stability Oversight Council (“FSOC” or “Council”)[1] voted unanimously to issue final interpretive guidance on the FSOC’s nonbank financial company designations process (the “Final Guidance”),[2] which is set to replace the existing 2019 guidance (“2019 Interpretive Guidance”) 60 days after publication,[3] and a new analytic framework for financial stability risk identification, assessment and response (the “Analytic Framework”).[4] In April of...