In the face of turmoil and uncertainty, the world's major financial institutions continue to choose our team to help them manage their business, litigation and reputational risks and thrive in the new economic and regulatory climate. To our clients we are much more than litigators - we are business partners who have a stake in their success.
Client News
Paul, Weiss Wins Dismissal of Class Action Against Morgan Stanley Alleging Scheme to Reduce Competition in Treasury Securities Market
Paul, Weiss achieved a significant victory for Morgan Stanley by securing the dismissal of all claims in an antitrust class action.
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Credit Suisse Publishes Independent Review of Archegos Losses
As reported by the Financial Times, The Wall Street Journal and many other media outlets, Credit Suisse published a 165-page independent investigative report by Paul, Weiss addressing the bank’s relationship with Archegos Capital Management, the family office of Sung Kook “Bill” Hwang, a former hedge fund manager.
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Paul, Weiss Banking Practice Named Law360 “Practice Group of the Year”
Paul, Weiss won Law360 “Practice Group of the Year” recognition for its achievements in 2021 in the Banking category.
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Morgan Stanley Wins Dismissal in Antitrust Class Action Suit Involving “Odd-Lot” Bonds
Paul, Weiss, as part of a joint defense group, secured the dismissal of a putative antitrust class action complaint against our client Morgan Stanley and nine other financial institutions.
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Brad Karp Named Law360 MVP in Banking
Firm chairman Brad Karp was honored with a Law360 2021 MVP Award in the Banking category.
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Economic Sanctions and Anti-Money Laundering Developments: 2020 Year in Review
See Also
- Economic Sanctions & AML
- Financial Institutions
- Litigation
- H. Christopher Boehning
- Jessica S. Carey
- Michael E. Gertzman
- Roberto J. Gonzalez
- Brad S. Karp
- Xiaoyu Greg Liu
- Mark F. Mendelsohn
- Richard S. Elliott
- Rachel Fiorill
- Robyn E. Bernstein
- Jennifer Gilbert
- Aaron E. Haier
- Leah Hibbler
- Carly Lagrotteria
- Jacobus J. Schutte
- Jake E. Struebing
- Sylvia Sui
- Joshua R. Thompson
- Andrew H. Trinker
- Courtney Wiesner
- Braeshaun Dozier
- Emily M. Glavin
In this annual review, we survey U.S. economic sanctions and anti-money laundering regulatory and enforcement developments in 2020 and provide an outlook for the year ahead under the new administration.
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Brad Karp, Roberto Gonzalez and Hilary Oran Co-Author Law360 Article on CFPB Policy Shift Regarding Abusive Acts
Firm Chairman Brad Karp, litigation partner Roberto Gonzalez and litigation associate Hilary Oran co-authored an article, “What CFPB Policy Shift Means For Scrutiny Of Abusive Acts,” that appeared in Law360.
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Signature Bank Wins Dismissal of Paycheck Protection Program Class Action
See Also
Paul, Weiss secured the dismissal with prejudice of a putative class action against Signature Bank seeking to recover “agent fees” for Paycheck Protection Program (PPP) loans under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.
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The OCC Issues Guidance Confirming that National Banks and Federal Savings Associations May Hold Reserves for Certain Stablecoins
U.S. banks and federal savings associations may accept deposits that serve as reserves for stablecoin backed on a 1:1 basis by a single fiat currency in a hosted wallet.
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New York DFS Issues Emergency Regulation on Mortgage Forbearance and Certain Fees in Response to COVID-19 Pandemic
Under an emergency regulation issued by the NY Department of Financial Services, DFS-regulated banking organizations and mortgage servicers must grant a 90-day forbearance on residential mortgage payments for New York residents who can demonstrate financial hardship due to the COVID-19 pandemic.
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New York DFS Grants Temporary Relief and Requires Regulated Entities to Submit Descriptions of COVID-19 Preparedness Plans
The N.Y. Department of Financial Services (DFS) has taken a number of recent steps in response to the COVID-19 pandemic, including granting temporary regulatory relief and filing extensions to regulated entities, and requiring such entities to make submissions regarding their COVID-19 preparedness plans.
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Gov. Cuomo Requires New York-Regulated Banks to Grant Forbearances in Light of the COVID-19 Pandemic and Issues Related Directives to NY DFS
N.Y. Gov. Andrew Cuomo has issued an executive order temporarily deeming the failure of a New York-regulated bank to grant a forbearance to an individual or business in certain circumstances an “unsafe and unsound” business practice.
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Anti-Spoofing Enforcement: 2019 Year in Review
2019 marked another unprecedented year in civil and criminal anti-spoofing enforcement.
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OCC Takes Unprecedented Enforcement Actions Against Eight Former Wells Fargo Executives, Including the Former Chairman & CEO, Head of the Bank, General Counsel, and Risk and Audit Executives
As the latest chapter in the aftermath of the Wells Fargo fake accounts scandal, the OCC announced enforcement actions against eight former Wells Fargo executives for their roles in the bank’s “systemic sales practices misconduct.”
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Paul, Weiss Wins $1 Billion Judgment for Citi in Parmalat Litigation
Eleven years after Paul, Weiss litigation partners Ted Wells and Jack Baughman won a trial verdict for client Citigroup Inc. in New Jersey, Italy’s Supreme Court ruled on April 16 that the 2008 court award against failed Italian dairy giant Parmalat SpA is final and enforceable in Italy.
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