Page 2 - Nihal Patel News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Nihal Patel is an associate in the firms Financial Services Group

In a joint statement, the Federal Reserve Board, the CFPB, the FDIC, the National Credit Union Administration and the OCC, as well as state bank and credit union regulators, emphasized the importance of continued progress in transitioning away from LIBOR.

The Alternative Reference Rates Committee ("ARRC") summarized its recommendations to date for spread-adjusted fallbacks for contracts that reference the U.S. dollar London Interbank Offered Rate.

The SEC Division of Trading and Markets granted no-action relief to security-based swap dealers from certain initial margin requirements for security-based swaps under SEA Rule 18a-3(c)(1)(ii)(B) ("Margin Requirements").

Indian American candidate Sam Joshi was victorious in the Democratic primary June 8 in his bid to become mayor of Edison, New Jersey. Of all the June 8 primary elections – many taking place in New Jersey and Virginia – the Edison mayoral race was arguably the most hotly contested, with Joshi and Indian American Mahesh Bhagia among the three Democratic candidates running, along with Arthur Esposito. Joshi won convincingly with 5,995 and 61.6 percent of the vote, roughly 30 points better than second-place Bhagia, who secured 3,185 votes for 32.7 percent. Esposito was a distant third w...