Securities Law, Administrative Law, Finance & Banking

N.Y. ALJ Holds Taxpayer’s Motives for Acquiring Stock and How Stock Is Used Irrelevant in Determining Investment Capital

by Lindsay LaCava, Arthur R. Rosen | McDermott Will & Emery on 5/22/2013

A New York administrative law judge recently held in Matter of C.V. Starr & Co., Inc. that income received by a taxpayer from its ownership of common stock was investment income. In so holding, the ALJ addressed an important...more

Legislative Update Report No. 2013-09 -- May 10, 2013

by Osler, Hoskin & Harcourt LLP on 5/15/2013

In This Article: Federal Government; Alberta; British Columbia; Manitoba; New Brunswick; Newfoundland; Northwest Territories; Nova Scotia; Nunavut; Ontario; Prince Edward Island; Québec/Quebec; Saskatchewan; and...more

SEC Fraud Charges against Harrisburg, Pa., Have Implications for Secondary Market Disclosures

by William C. Rhodes, Tesia Stanley | Ballard Spahr LLP on 5/10/2013

The Securities and Exchange Commission (SEC) recently charged the City of Harrisburg, Pennsylvania (the City), with misleading investors about its financial health in the annual State of the City Address, as well as in its...more

Konczal: Dodd-Frank Reforms Get Roughed Up in Court [Video]

by Bloomberg Law on 4/11/2013

April 11 (Bloomberg Law) -- Mike Konczal, fellow at the Roosevelt Institute and contributor to Bloomberg View, talks with Bloomberg Law's Lee Pacchia about how the implementation of the financial reform laws in Dodd-Frank...more

AIFMD: ESMA Final Guidelines on Sound Remuneration Policies

by Orrick - Structured Finance Group on 2/21/2013

On February 11, the European Securities and Markets Authority (ESMA) published its final report in relation to sound remuneration policies under the Alternative Investment Fund Managers Directive (AIFMD). ...more

Select Broker-Dealer, Investment Adviser, and Investment Company Enforcement Cases and Developments: 2012 Year in Review

by Morgan Lewis on 2/6/2013

This Outline highlights key U.S. Securities and Exchange Commission (the "SEC" or the "Commission") and Financial Industry Regulatory Authority ("FINRA") enforcement developments and cases regarding broker-dealers during...more

A Few New Enforcement Priorities for FINRA

by Joseph Edmondson Jr., Richard Wallace | Foley & Lardner LLP on 2/4/2013

The enforcement mission of the Financial Industry Regulatory Authority is, by design, a public one....more

Should Wall Street Fear Mary Jo White? [Video]

by Bloomberg Law on 2/1/2013

Feb. 1 (Bloomberg Law) -- Mary Jo White has spent decades as both a federal prosecutor and later as outside counsel for many financial institutions. If the Senate confirms her as SEC chair, will Wall Street be facing a lawyer...more

Financial Services Legislative And Regulatory Update -- January 21, 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 1/22/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading The Past Week - Contrasted with the story of the economic recovery, and how the biggest...more

Swap Clearing and the Commercial End User Exception: Corporate Governance and Risk Management Issues for Commercial Companies

by Juan Arciniegas, Anthony R.G. Nolan, Anh Tran | K&L Gates LLP on 1/18/2013

Central clearing of over-the-counter derivatives is a central pillar of the financial services reforms that are embodied in the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The presumption...more

AIFMD: Level 2 Regulation adopted by the European Commission

by Aki Corsoni-Husain, Philip Graham, Jonathan Law, Sean Scott | Harney Westwood & Riegels on 1/18/2013

Harneys continues to monitor developments related to the EU’s AIFMD with a focus on how it will affect our clients in the Cayman Islands and BVI. The most significant recent development is that the AIFMD Level 2 Regulation...more

The Future Of Derivatives Data: DTCC, CME And SDR’s

by Felix Shipkevich | Shipkevich PLLC on 1/17/2013

The future of derivatives data hangs in the balance as U.S. regulators deal with proposed Rule 1001, which would allow CME Group to report swaps data from its clients who have their swaps cleared with DTCC....more

CFPB Issues Final Ability-to-Repay and Qualified Mortgage Rule

by Michele Coffey, Kathleen Collins, Ivan Harris, Kenneth Kliebard, Christian Mixter, Tonya Oliver | Morgan Lewis on 1/17/2013

Rule lists criteria that lenders must consider in determining a prospective borrower has the ability to repay a loan and defines Dodd-Frank's concept of a "qualified mortgage." On January 10, the Consumer Financial...more

Changes in the Wind for Rule 10b5-1 Trading Plans?

by Gregory C. Schick | Sheppard Mullin Richter & Hampton LLP on 1/17/2013

On December 28, 2012, the Council of Institutional Investors (CII) submitted a letter to the Securities and Exchange Commission (SEC) requesting that the SEC implement rulemaking to impose new requirements with respect to...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 11, 2013

by BuckleySandler LLP on 1/17/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - Excerpt from...more

Deferral of the Swaps Push-Out Requirement, But Only for Insured Federal Depository Institutions

by Ian Cuillerier, Ernest (Ernie) T. Patrikis, Duane D. Wall | White & Case LLP on 1/17/2013

An insured federal depository institution may request a transition period to comply with the “push-out” requirements of section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”)...more

Year-End Developments And Compliance Checklists

by Cole Beaubouef, Richard Bernstein, George Danenhauer, Marie DeFalco, David Goret, Peter Greene, Elaine Hughes, Allen Levithan, Matthew Magidson, Robert Minion, Scott H. Moss | Lowenstein Sandler LLP on 1/17/2013

Lowenstein Sandler’s Investment Management Group is pleased to provide you with (i) a summary of recent legislative and regulatory developments that impact the investment management community; and (ii) checklists of year-end...more

2012 Corporate Finance Review – Low Interest Rate Environment Provides Opportunities in the Debt Markets

by Michael Innes, Desmond Lee | Osler, Hoskin & Harcourt LLP on 1/16/2013

Osler has published its 2012 Capital Markets Review which includes a look back at the year in Canadian corporate finance by Desmond Lee and Michael Innes....more

Securities Law Essentials For Growing Companies

by David Jenson, Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 1/16/2013

We recently gave a presentation at a CLE titled Securities Law Essentials for Growing Companies. The presentation included an overview of what constitutes a public offering, what is a security, classical private placements,...more

OCC Extends Deadline For Application Of Lending Limits Rule

by BuckleySandler LLP on 1/16/2013

On January 4, the OCC issued a final rule that extends until July 1, 2013 the temporary exception for the application of its lending limits rule to certain credit exposures. In June 2012, the OCC issued an interim final rule...more

UK Treasury Publishes First Consultation on AIFMD Implementation

by Proskauer Rose LLP on 1/16/2013

On 11 January 2013, HM Treasury published its first consultation on Alternative Investment Fund Managers Directive (AIFMD) implementation in the UK, entitled "Transposition of the Alternative Investment Fund Managers...more

FINRA Provides Early Guidance About Its Exam Priorities; Firms Should Take Notice

by Jay G. Baris, Hillel Cohn, Kelley A. Howes, Daniel A. Nathan | Morrison & Foerster LLP on 1/16/2013

In its annual summary of regulatory and examination priorities, the Financial Industry Regulatory Authority (FINRA) signaled that it will aggressively pursue market misconduct. The January 11, 2013 report follows closely on...more

Will High-Frequency Trading (HFT) Get The German Treatment In The U.S.?

by Elan Mendel | Shipkevich PLLC on 1/16/2013

German regulators have increased the pressure on high-frequency traders, prompting concerns from the market that the country risks damaging its financial sector....more

New Reporting Requirements Under the Iran Threat Reduction and Syria Human Rights Act of 2012

by Benji Jones, A. Heath Tripp | Smith, Anderson, Blount, Dorsett, Mitchell &... on 1/15/2013

On August 10, 2012, the United States delivered its latest economic blow to Iran by enacting the Iran Threat Reduction and Syria Human Rights Act of 2012. U.S. companies have long been forbidden from engaging in most...more

Proposed Rule Change to Amend FINRA Rule Regarding Investor Education and Protection Disclosures

by Tanja Samardzija, James Van De Graaff | Katten Muchin Rosenman LLP on 1/15/2013

The Financial Industry Regulatory Authority filed a proposed rule change to amend FINRA Rule 2267 to require a member firm to include a description of and link to FINRA BrokerCheck on its website, social media page and any...more

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Securities Law › Administrative Law › Finance & Banking

N.Y. ALJ Holds Taxpayer’s Motives for Acquiring Stock and How Stock Is Used Irrelevant in Determining Investment Capital

Legislative Update Report No. 2013-09 -- May 10, 2013

SEC Fraud Charges against Harrisburg, Pa., Have Implications for Secondary Market Disclosures

Konczal: Dodd-Frank Reforms Get Roughed Up in Court [Video]

AIFMD: ESMA Final Guidelines on Sound Remuneration Policies

Select Broker-Dealer, Investment Adviser, and Investment Company Enforcement Cases and Developments: 2012 Year in Review

A Few New Enforcement Priorities for FINRA

Should Wall Street Fear Mary Jo White? [Video]

Financial Services Legislative And Regulatory Update -- January 21, 2013

Swap Clearing and the Commercial End User Exception: Corporate Governance and Risk Management Issues for Commercial Companies

AIFMD: Level 2 Regulation adopted by the European Commission

The Future Of Derivatives Data: DTCC, CME And SDR’s

CFPB Issues Final Ability-to-Repay and Qualified Mortgage Rule

Changes in the Wind for Rule 10b5-1 Trading Plans?

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 11, 2013

Deferral of the Swaps Push-Out Requirement, But Only for Insured Federal Depository Institutions

Year-End Developments And Compliance Checklists

2012 Corporate Finance Review – Low Interest Rate Environment Provides Opportunities in the Debt Markets

Securities Law Essentials For Growing Companies

OCC Extends Deadline For Application Of Lending Limits Rule

UK Treasury Publishes First Consultation on AIFMD Implementation

FINRA Provides Early Guidance About Its Exam Priorities; Firms Should Take Notice

Will High-Frequency Trading (HFT) Get The German Treatment In The U.S.?

New Reporting Requirements Under the Iran Threat Reduction and Syria Human Rights Act of 2012

Proposed Rule Change to Amend FINRA Rule Regarding Investor Education and Protection Disclosures

Konczal: Dodd-Frank Reforms Get Roughed Up in Court [Video]

Should Wall Street Fear Mary Jo White? [Video]

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