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The SEC’s Money Market Fund Reforms

Harvard Corporate Governance

The Securities and Exchange Commission, by a vote of 3 to 2, approved significant changes to Rule 2a-7 and other rules that govern money market funds under the Investment Company Act of 1940 (Amendments) on July 12, 2023. [1]

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Nationwide agrees £2.9bn deal to take over Virgin Money

The Guardian M&A

Richard Branson has already indicated he will back takeover that will require the agreement of the group’s shareholders Nationwide Building Society is lined up to take over its smaller rival Virgin Money after the pair formally agreed a deal worth £2.9bn.

Banking 82
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Nationwide to buy Virgin Money in £2.9bn deal

The Guardian M&A

Lenders reach preliminary agreement on key terms in deal to create new competitor with £366bn in assets Nationwide Building Society has agreed to buy Virgin Money in a deal that values its high street rival at nearly £3bn and would create the second-largest provider of mortgages and savings in the UK.

Banking 89
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Nationwide faces mounting calls to give members a say on Virgin Money takeover

The Guardian M&A

Experts question if ‘bigger is better’ and whether members should be consulted on the £2.9bn deal The Nationwide building society is facing growing calls to give its 16 million members a say on its proposed £2.9bn takeover of high street rival Virgin Money in what would be the biggest UK banking deal since the financial crisis.

Banking 88
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Talking Money with the Next Gen

Auto Dealer Valuation Insights

That doesn’t mean young adults don’t have questions about money, it just means they are more likely to turn to their peers for answers. A recent Wall Street Journal article described younger adults’ profound mistrust of the traditional institutions of financial life, such as banks and financial advisors.

Banking 97
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VALUATION OF BUSINESS LOSING MONEY

The Mentor Group

Valuing a business that is currently losing money can be challenging, but it’s not impossible. Here are several possible approaches and considerations: Asset-Based Approach: One way to value a business that is losing money is through an asset-based approach.

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Ropes & Gray Discusses FinCEN Proposal to Extend Anti-Money Laundering Requirements

Reynolds Holding

Treasury Department, issued a Notice of Proposed Rulemaking (“Proposed Rule”) that would extend certain anti-money laundering program requirements to: investment advisers registered (“RIAs”) with the Securities and Exchange Commission (“SEC”); and investment advisers that report to the SEC as exempt reporting advisers (“ERAs”).