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The Financial Sector And Government Contractors In The Environmental Bull's-Eye - Environment


Highlights
The Biden Administration on May 20, 2021, issued its latest and
long-awaited Executive Order (EO) on climate-related financial
risk.
The EO will affect a number of business sectors, including
financial institutions, insurance companies, U.S. Securities and
Exchange Commission (SEC)-regulated entities and government
contractors, and will require a number of studies and reports to be
filed by government agencies within the next 120 to 180 days.
Demonstrating how climate change and environmental justice
issues remain a top priority within the Biden Administration, this
EO is the latest in a series of actions designed to encourage
economy-wide transition by targeting the financial sector and ....

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FDIC Proposes To Rescind 1996 Statement Of Policy On The Use Of Offering Circulars And Replace It With A New Rule Of Narrower Scope - Corporate/Commercial Law


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The disclosure requirements for offerings of securities by state
non-member banks have long been governed by the Federal Deposit
Insurance Corporation s ( FDIC ) 1996 Statement of
Policy on the Use of Offering Circulars in Connection with Public
Distribution of Bank Securities (the 1996
Statement ).
1 The 1996 Statement focuses on
disclosure, requires that specific legends be included in offering
circulars used by state non-member banks issuing securities and has
no filing requirement. The 1996 Statement also refers to the
disclosure requirements of the former Office of Thrift
Supervision.
On January 19, 2021, the FDIC proposed, among other items, ....

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Banking Agencies Propose Rule Concerning Income Tax Allocation Agreements - Tax


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The OCC, Treasury, Federal Reserve Board and FDIC (collectively,
the Agencies ) proposed a joint rulemaking to establish
requirements for tax allocation agreements between institutions and
their holding companies in a consolidated tax filing group (or
consolidated group ). Under the proposal, institutions
within a consolidated group would be required to enter into tax
allocation agreements with their holding companies and members of
the group that participate in the filing of a consolidated group
tax return.
The proposed rule would, among other things:
create a procedure for tax payment requirements between an ....

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