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SEC Says No Reg. BI Extension Despite COVID-19 Concerns
April 6, 2020 | Blog | By David L. Ward
In a Statement on April 2, the Chairman of the Securities and Exchange Commission (SEC), Jay Clayton, announced that the June 30, 2020 timeline for implementation of Regulation Best Interest (“Reg. BI”) will remain.
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The CFTC and NFA Offer Further No-Action Relief to Market Participants in Response to the Unprecedented Conditions Posed by COVID-19
April 3, 2020 | Blog | By Therese Doherty, Jason Burrell
On March 31, 2020, the CFTC extended temporary no-action relief to foreign affiliates of certain futures commission merchants (FCMs) in further response to the COVID-19 pandemic.
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State Securities Regulators Adapt in Response to COVID-19
April 3, 2020 | Blog | By Pete Michaels, Michael Pastore
As financial professionals struggle to adapt during these trying times, securities regulators are also revising their processes and procedures to address the current realities of investor protection in the time of COVID-19 while being fair to the regulated entities.
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Material Non-Public Information in the Time of COVID-19: SEC Warning on Insider Trading
March 30, 2020 | Blog | By Pete Michaels, Michael Pastore
On March 23, 2020 the SEC issued a statement warning about the risks of insider trading posed by the COVID-19 pandemic.
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India Orders Shutdown Impacting Millions of Outsourced Technology and Financial Sector Workers
March 26, 2020 | Alert | By Julie Korostoff, Meredith M. Leary, Laura A. Stacey
This alert discusses what companies outsourcing critical business process functions to India should do in light of the Indian government’s order that telecom, IT, and other technology companies should, as far as possible, work from home.
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New York Legislature Introduces Bill to Waive Certain Rent and Mortgage Payments for 90 Days in Response to COVID-19 Pandemic
March 26, 2020 | | By Therese Doherty, Alexandra Calistri
On March 23, 2020, the New York Senate proposed legislation that would forever waive rent payment obligations and mortgage payment obligations due from certain residential tenants and small business commercial tenants for 90 days in response to the COVID-19 pandemic.
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The CFTC Issued a Third Wave of No-Action Relief in View of the COVID-19 Pandemic and the NFA Followed Suit
March 24, 2020 | Alert | By Therese Doherty, Jason Burrell
This alert covers new DSIO temporary relief to a major insured depository institution (IDI) and commodity pool operators related to COVID-19 as well as temporary relief from the NFA to CPO members.
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The CFTC and NFA Offer No-Action Relief to Market Participants Facing Unprecedented Conditions Posed by the COVID-19 Pandemic
March 19, 2020 | Advisory | By Therese Doherty, Jason Burrell
This alert outlines the conditions set forth in the DSIO and DMO’s no-action letters providing temporary relief to market participants facing COVID-19–related challenges.
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Regulatory Update for NFA and FINRA Member Firms — COVID-19
March 18, 2020 | Alert | By Therese Doherty, Kara M. Cormier, Jason Burrell
This alert from the Mintz Financial Services Practice reviews the recent relief and guidance provided for NFA and FINRA member firms related to challenges posed by the COVID-19 pandemic.
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Massachusetts Securities Division Expands Jurisdiction to Non-Securities
February 10, 2020 | Blog | By Pete Michaels, David L. Ward
The Enforcement Section of the Massachusetts Securities Division (“MSD”) recently filed an Administrative Complaint against Ryan Patrick Skinner (“Skinner”) and related entities Summit Financial Partners and Summit Financial Ptrs Inc of Woburn, MA (together, “Summit”).
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Consumer Financial Protection Bureau Issues Guidance Clarifying Abusiveness Standard
January 27, 2020 | Blog | By Pete Michaels, Michael Pastore
During the Consumer Financial Protection Bureau’s (“CFPB”) symposium series in June 2019, the featured panel discussed whether it was necessary for the Bureau to further define “abusive acts or practices” under the Dodd-Frank Act.
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2020 Exam Priorities of Financial Services Industry
January 22, 2020 | Blog | By Pete Michaels, David L. Ward, Michael Pastore
As they do at this time each year, the SEC Office of Compliance, Inspections and Examinations (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”) recently announced their examination priorities for 2020.
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The Big Mistake Too Many Retirement Plan Fiduciary Committees are Making—And What to Do About It
May 3, 2019 | Blog | By Alden Bianchi
This post explains how to set up and monitor a retirement plan fiduciary committee in a manner that insulates the plan sponsor’s board and senior management from unnecessary fiduciary exposure.
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ML Strategies Weekly Health Care Preview - Week of October 29th
October 29, 2018 | Blog
Open Enrollment is fast approaching and the landscape with be notably different than in years past. From the introduction of short-term plans and association health plans to proposals to allow for greater use of health reimbursement arrangements, the strength of the Marketplace will be tested and will inform future policy considerations. We cover this and more in this week's health care preview.
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Six Things to Know About the New Section 1332 Waiver Guidance
October 25, 2018 | Blog | By David Chorney
Recently, the Department of Health and Human Services (“HHS”) and the Department of Treasury (“Treasury”) released new guidelines (the “Guidance”) on the application and approval process for states seeking waivers through Section 1332 of the Patient Protection and Affordable Care Act (“ACA”) from certain requirements for health plans issued under the ACA. The Guidance replaces guidelines issued under the Obama Administration and previously published on December 16, 2015. This post highlights how the Guidance differs from the Obama Administration guidelines and what those differences will mean for states seeking Section 1332 waivers.
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Massachusetts Appeals Court Upholds Liability Insurer’s Contractual Right to Settle
December 14, 2017 | Advisory | By Nicholas Cramb, Lavinia Weizel
On Tuesday, December 12, 2017, the Massachusetts Appeals Court, applying New Hampshire law, held that a professional liability insurer did not breach the implied covenant of good faith and fair dealing by settling a New Hampshire medical malpractice suit over its insured’s objection.
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InsureTech Connect 2017 Panel Discussion: Maximizing Profits via Products and Alternative Business Model Innovation
October 9, 2017 | Article | By Heidi Lawson, Gregory Hoffnagle, Jacquelyn Burke
After being in the insurance industry for several decades in a variety of roles, I frequently get asked which insurtechs I think are going to be successful.
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How Insurtechs Maximize Profits and Competitive Advantage
June 21, 2017 | Advisory | By Heidi Lawson
The potential to disrupt the historic insurance industry model has made insurtech one of the hottest new areas of innovation and investment, with entrepreneurs developing technologies at a breakneck pace and venture capital firms seeking to put investment dollars behind an exciting range of new products and services aimed at efficiencies and cost savings.
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NAIC Insurance Summit 2017: Innovation and Disruption Are Top of Mind for State Regulators
June 7, 2017 | Advisory | By Gregory Hoffnagle
From May 22-26 Mintz Levin participated in the annual NAIC Insurance Summit in Kansas City. A main theme of this year’s Summit was technology and innovation. The Summit was remarkable in that it served as a meeting grounds for key market players: technology incumbents, such as insurers, insurtech start-ups, venture capital firms, accelerators, producers and regulators.
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Insurtech: 5 Questions, More Profit
April 28, 2017 | Advisory | By Heidi Lawson, Gregory Hoffnagle, Jacquelyn Burke
Decisions you make when founding and/or investing in an insurtech venture can dictate your regulatory obligations, tax liability, operational structure and, ultimately, profitability. Here are five seemingly simple questions to ask when launching an insurtech venture:
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