Mr Michael E Borden

Michael E Borden

Updates

Banking

US election results: five key matters for financial services industry
USA | 07 December 2018

In the recent election, the Democrats captured a majority in the House of Representatives and Representative Maxine Waters (D-Calif) is now in line to lead the House Financial Services Committee. As such, it is expected that a significant shift in legislative efforts relating to the financial services industry will occur. During the first Financial Services Committee hearing since the election, Waters announced that deregulation efforts are finished.

Treasury releases report to reform US financial system
USA | 14 July 2017

The Treasury Department recently released its long-awaited report to reform the US financial system. The report includes dozens of recommendations to reform laws, treaties, regulations, guidance, reporting and recordkeeping requirements and other government policies that inhibit federal regulation of the financial system in a manner consistent with the set of core principles enunciated by President Trump in Executive Order 13772.

Trump executive actions forecast major potential changes to financial industry regulation
USA | 17 February 2017

President Trump recently issued two executive actions which constitute the first official statements on how his frequent criticism of the Dodd-Frank Act and the broader financial regulatory climate following the financial crisis may be translated into actual reform efforts. The executive order sets out core principles for regulatory reform without making any specific policy recommendations, while the memorandum directs the Department of Labour to re-examine its 2016 Fiduciary Duty Rule.

Healthcare & Life Sciences

Preliminary considerations for healthcare industry for 116th Congress
USA | 13 February 2019

Health policy issues are high on the agenda of the new Congress. The stated priorities for the new House majority include reducing drug prices, defending the Affordable Care Act, addressing the opioid abuse crisis and investigating the pharmaceutical industry. Given the potential for at least some bipartisan cooperation on each of these priorities, stakeholders in the healthcare industry should be prepared for legislative and regulatory opportunities and challenges.

International Trade

Trans-Pacific Partnership Agreement faces long road to approval
USA | 06 November 2015

The recent announcement of the successful conclusion of the negotiation of the Trans-Pacific Partnership Agreement is a major accomplishment, but it may take time for each nation to obtain approval of the deal. This update reviews the approval process that will apply in the United States and the challenges that some prior US free trade agreements experienced when they came up for consideration during election campaign periods.