April 2018: Joseph Otting, the head of the Office of the Comptroller of the Currency, announced on February 27, 2018 that banks no longer need to adhere to the Leveraged Lending Guidance when providing leveraged financing. Mr. Otting said that “Institutions should have the right to do the leveraged lending they want, as long as they…

January 2018 – In a detailed speech HERE given on January 9, 2018 at the annual Primary Dealer Meeting in New York City, Lorie K. Logan, Senior Vice President of the Federal Reserve Bank of New York, discussed the movement away from the use of the LIBOR rate as a reference rate and the New York Fed’s role as…

On September 1, 2017, the Federal Reserve Board adopted a rule (the “Rule”) that will require banks that are deemed “global systemically important banking organizations” (“GSIBs”) and the United States operations of foreign GSIBs to amend their hedging agreements and certain other agreements (known as “qualified financial contracts” or “QFCs”) to add limitations on the…

October 24, 2017 – The Connecticut Uniform Power of Attorney Act (“CUPOA”) establishes rules for the creation of powers of attorney including those that survive after the party granting the power (the “principal”) to a third party (the “agent”) becomes incapacitated, missing or detained. Earlier this year the Connecticut legislature enacted Public Act 17-91 (the “2017…

Among the many truisms defining the American culture is the proposition that we live in a litigious society. As a matter of sound public policy designed to motivate highly qualified individuals to accept the risks associated with acting as directors and officers of corporations, the law provides mandatory and permissive indemnification rights. The range of…

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