Corporate and Financial Weekly Digest - June 29, 2012


In this issue:

- Congress Pressures SEC on Two Fronts

- New General Solicitation and Advertising Rules To Be Delayed

- Proposed Rule Change Relating to Distribution of Auction Messages

- SEC Adopts New Procedures for Review of Certain Clearing Agency Actions

- CFTC Proposes Block Trades Rules for Swap Contracts

- NFA Reminds Members of Changes to CPO Exemption Rules

- NFA Reminds Members of New Filing Requirements for Segregated Investment Detail Reports

- CFTC Proposes Rules to Enhance Identification of Futures and Swaps Market Participants

- Delaware Chancery Court Grants Request to Dismiss Judicial Dissolution Proceeding

- Court Declines to Apply Economic Loss Doctrine to Tortious Interference with Contract Claim

- FDIC To Offer Assistance to Community Banks in Understanding Proposed Capital Rules

- OCC Issues Final Regulations Requiring Alternatives to the Sole Use of External Credit Ratings and Takes Other Actions

- Federal Reserve and FDIC Announce Disclosure and Evaluation Timetable for First Living Wills

- UK Quoted Companies to be Required to Report Greenhouse Gas Levels

- ESMA Consults on EMIR Rules

An excerpt from "FDIC To Offer Assistance to Community Banks in Understanding Proposed Capital Rules"

In a letter dated June 25 to community bank CEOs, Martin Gruenberg, Chairman of the Board of the Federal Deposit Insurance Corporation, stated that the FDIC will offer assistance to community bankers to help them understand the complicated new rules that have been proposed by the FDIC, the Federal Reserve and the Office of the Comptroller of the Currency (OCC) with respect to capital requirements. Gruenberg said, "We recognize…that the proposed rules …are extensive. Because of this, the FDIC is offering technical assistance to aid community banks in identifying and understanding the aspects of the proposals most likely to apply to them." To that end, the FDIC will conduct informational sessions with community bankers in each of the six FDIC geographic regions to provide an overview of the proposed regulations. "The sessions will be presented live and bankers will have the option to attend in person or listen to the presentation by phone.”

Please see full newsletter below for more information.

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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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