James Stevens, co-leader of Troutman Pepper’s Financial Services Industry Group, was quoted in the May 9, 2023 S&P Global Market Intelligence article, “Bank Regulators Lose Patience for Slow Remediation as They Step up Supervision.”
Recent updates from the Securities and Exchange Commission (SEC) make it likely that companies will need to finalize clawback policies compliant with the Dodd-Frank Act by early August 2023.
Reprinted with permission from the May 4, 2023 issue of The Legal Intelligencer. © 2023 ALM Media Properties, LLC. Further duplication without permission is prohibited. All rights reserved.
A recent decision by the Bankruptcy Court for the Northern District of Texas, Northwest Senior Housing v. Intercity Investment Properties (In re Northwest Senior Housing), addressed these important issues involving the retention of a public relations firm and highlights some important pitfalls to avoid.
NEW YORK – Troutman Pepper advised in more than 25 capital markets transactions in Q1 2023 with overall deal value topping $5 billion. Transactions spanned across the United States with a notable concentration in Canadian cross-border deals.
On May 3, the Securities and Exchange Commission (SEC) adopted rule amendments regarding disclosures about repurchases of an issuer’s equity securities, or issuer stock buybacks. The final rule and fact sheet can be found here and here. The new rules include:
RICHMOND, Va. – Troutman Pepper client Burke & Herbert Financial Services Corp. (Nasdaq: BHRB), the bank holding company for Burke & Herbert Bank & Trust Company, has begun trading its common stock on the Nasdaq Capital Market® after completing a registration process with the United States Securities and Exchange Commission (SEC). Shares of the company’s common stock will continue to trade under the symbol “BHRB”, the same symbol under which the company’s securities were previously quoted on OTC Markets. Read a company press release about the listing.
Reilly Is 3rd Partner to Join the National Practice This Year
WASHINGTON – Joseph “Joe” Reilly, an experienced attorney who advises financial services companies in a wide variety of regulatory, enforcement, and compliance matters, has joined Troutman Pepper’s nationally recognized Consumer Financial Services Practice Group as a partner. He most recently practiced at Manatt, Phelps & Phillips, LLP.
Ron Raether, leader of Troutman Pepper’s Privacy + Cyber Industry Group, was interviewed in the April 26, 2023 BankInfoSecurity article, “Protecting CISOs From Taking the Blame.”
“Just like a CISO, a general counsel might be seen as the individual that is a cost center, that says ‘no’ to projects and is seen as
Deborah Kovsky-Apap, a partner with Troutman Pepper, was quoted in the April 26, 2023 Fintech Nexus News article, “CeFi’s Transparency Problem: How 2022 Lifted the Curtain.”
On April 12, the U.S. Small Business Administration (SBA) announced that it is ending the moratorium that capped the number of small-business lending companies permitted to participate in its § 7(a) loan program at 14, and opening up participation in the program to fintech firms and other alternative lenders. The SBA’s loan program offers small businesses loans of up to $5 million, with the agency guaranteeing up to 85% on loans up to $150,000, and 75% for loans more than $150,000. The new rule will take effect on May 12.