Corporate and Financial Weekly Digest - Volume IX, Issue 2


In this issue:

- Judges Raise Concerns Regarding Conflict Minerals Rule at Appeal Hearing

- SEC Division of Corporation Finance Issues Five Additional C&DIs Relating to “Bad Actor” Rule

- CFTC Requests Comment on Staff Advisory Regarding the Applicability of Transaction Level Requirements

- CFTC Staff Extends No-Action Relief for Transaction-Level Requirements in Certain Cross-Border Situations

- NFA Implements Additional Reporting Requirements for Certain FCMs

- ArthroCare to Pay $30 Million Fine to Settle DOJ Probe

- Alcoa Subsidiary Pleads Guilty to FCPA Charge, Will Pay $348 Million

- Lawmakers Introduce Legislation to Resolve CDO-TruPS Controversy

- Excerpt from Lawmakers Introduce Legislation to Resolve CDO-TruPS Controversy

In the latest installment of the Volcker Rule’s collateralized debt obligation-trust preferred securities (CDO-TruPS) controversy, on January 8, two House Financial Service Committee members introduced a bill to exempt existing CDOs backed by so-called TruPS from the Volcker Rule. The Volcker Rule provision reportedly would cause banks holding CDO-TruPS to divest them by July 15, 2015, and would additionally cause such institutions to have to mark them to market for the quarter ended December 31, 2013 and thereafter, causing unanticipated losses for many community banks.

Please see full newsletter below for more information.

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Topics:  Banking Sector, CFTC, Collateralized Debt Obligations, Conflict Mineral Rules, Enforcement, FCPA, Securities Litigation, Trust Preferred Securities, Volcker Rule

Published In: General Business Updates, Criminal Law Updates, Finance & Banking Updates, International Trade Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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