Securities Law Updates – May 23, 2012

by Thomas Fox on 5/23/2012

Put another way, what is the best one-stop database site for anti-corruption and anti-bribery on a worldwide basis? I think that the answer is will lead you to one resource that I would suggest you take a very hard look and...more

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

In This Issue: - Financial Industry Developments · FHFA Releases Draft Strategic Plan · Large Bank Stress Testing Guidance Finalized · Stress Testing for Community Banks · CFTC Rule on Swap...more

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On May 11, 2012, Assured Guaranty filed suit in the United States District Court for the Southern District of New York against several GMAC entities alleging that the defendants induced Assured to issue financial guaranty...more

by Potter Anderson & Corroon LLP on 5/22/2012

In this memorandum opinion, the Court of Chancery construed two confidentiality agreements executed by direct competitors at the outset of friendly negotiations regarding a possible business combination. Although neither of...more

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On May 18, the CFTC approved a proposed rule that would modify the aggregation provisions for limits on futures and swaps. The proposed rule would permit any person with greater than 10% ownership or equity interest in an...more

by Thomas Fox on 5/22/2012

Perhaps the defendants became confused about the inclusion of a local law defense in the Foreign Corrupt Practices Act (FCPA) under which payments to foreign governmental officials that are otherwise prohibited are permitted...more

by McDermott Will & Emery on 5/21/2012

On 10 May 2012, the Court of Justice of the European Union (CJEU) issued its judgment in Santander (joined cases C-338/11 to C-347/11), stating that the French legislation that imposes a withholding tax on French-sourced...more

by The California Securities Attorneys on 5/21/2012

The Securities & Exchange Commission (SEC) has made it clear that a minimal “check the box” approach is not sufficient. ...more