February 10, 2017

Robert Plaze quoted in "Inside President Trump’s Deregulation Plan"

REUTERS | Robert E. Plaze, a partner in Stroock's Investment Management Practice Group, was quoted in a Reuters article that discusses the first days of the Trump administration’s deregulation plan and a look at what's to come.


Join Steven Rabitz at the Institutional Investor Legal Forum's Winter Roundtable

Join Stroock partner Steven Rabitz at the Institutional Investor Legal Forum's Winter Roundtable February 28-March 1, 2017 in New York, NY.

Mr. Rabitz will participate in the panel discussion "The Fiduciary Rule: Where Should We Be, and Where Do We Go From Here?"

  • February 28-March 1, 2017 - Institutional Investor Legal Forum's Winter Roundtable
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  • March 1, 2017 - Strafford's Real Estate Joint Ventures Seminar
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  • March 1, 2017 - NYC Bar Event: New York City's Homeless and the City's Treatment of Housing Preferences
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    "President Trump’s Tax Plan to be Revealed Soon – Where Do We Stand Today?"

    s Donald Trump settles into his new presidency, it is an appropriate time to revisit tax proposals articulated by both President Trump and House Republicans, as well as their potential impact on comprehensive tax reform. Recently, President Trump indicated that a formal tax plan will be released by the administration in the forthcoming weeks. If enacted, the type of changes that are currently being considered would greatly transform the current tax system for both individual and business taxpayers.

    This Stroock Special Bulletin provides a general overview of President Trump’s preliminary tax proposal (“Preliminary Trump Plan”), and highlights differences from a similar proposal outlined by House Republicans.


    "CFPB in Long-Haul Battle"

    In the days following the elections, when commentators were abuzz with predictions of a quick demise for the Consumer Financial Protection Bureau ("CFPB" or "Bureau"), we were a lone voice in the wilderness warning that such predictions were premature and, indeed, we expected the CFPB to step up its enforcement activities. Events since then have led CFPB prognosticators to follow our lead. At the end of last week, they once again were abuzz – this time with the leak of a memo apparently outlining House Financial Services Committee Chairman Jeb Hensarling's revamped Financial CHOICE Act, including a plan to gut the CFPB.

    We believe that this latest development heralds an extended battle to stop the CFPB's activist agenda, not a quick one, while the Bureau continues to forge ahead and the States prepare to assert a stronger enforcement role. This Stroock Special Bulletin provides a brief overview of the CHOICE Act 2.0 legislative proposal to defang the Consumer Financial Protection Bureau (CFPB) and our anticipation of continued vigorous enforcement activities by the CFPB and the States.


    "CFTC’s DSIO Issues Time-Limited No-Action Letter Relating to Variation Margin Requirements"

    Yesterday the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (“DSIO”) issued a time-limited no-action letter stating that from March 1, 2017, to September 1, 2017, DSIO will not recommend an enforcement action against a swap dealer (“SD”) for failure to comply with the variation margin (“VM”) requirements for swaps that are subject to a March 1, 2017 compliance date.

    This Stroock Special Bulletin provides a brief overview of the no-action letter.


    "The National Industrial Security Program Directive: Some Hits, Some Runs, Some Errors"

    On January 11, the Information Security Oversight Office (“ISOO”) of the U.S. National Archives published a proposed rule to amend the National Industrial Security Program Directive Number 1, including provisions on Foreign Ownership, Control or Influence (FOCI) mitigation and negation. The proposed rule will have significant, if indirect, impact on foreign-controlled government contractors. Having advised on hundreds of FOCI negation and mitigation cases over nearly 40 years, we understand how these programs work – and don’t work.

    Some elements of the proposed rule make a lot of sense. Others require clarification. Still others strike us as mistaken. For all of these reasons, we decided to file comments on the Proposed Rule. This Stroock Special Bulletin highlights some of the key issues in the comments we have filed. Please let us know if you would like a copy of our full comments or the proposed rule.