In this issue -

- Federal Agencies Seek Comment on Joint Proposed Rule Regarding Credit Risk Retention

- SEC Grants Request for No-Action Relief with Respect to Multi-Day Pre-Fail and Post-Fail Credit Under Rule 204 of Regulation SHO

- Global Regulators Adopt Final Margin Requirements for Uncleared Derivatives

- CFTC Issues Concept Release on Automated Trading

- CFTC Grants Relief to CPOs Trading Through Subsidiaries

- Sixth Circuit Affirms Dismissal of Shareholder Class Action Due to Plaintiff’s Failure to Plead Recklessness

- Former Head of Investor Relations Penalized by SEC for Selectively Disclosing Material Nonpublic Information, While Self-Disclosing Company Escapes Charges

- FDIC Issues Final Rule Clarifying That Deposits in Foreign Branches of US Banks Are Not Insured

- CFPB Bulletin Warns Employers Against Exclusive Use of Payroll Cards

- Excerpt from: Former Head of Investor Relations Penalized by SEC for Selectively Disclosing Material Nonpublic Information, While Self-Disclosing Company Escapes Charges:

The selective and early disclosure of material non-public information resulted in a Securities and Exchange Commission cease and desist order and civil penalties against the former head of investor relations at First Solar, Inc. (First Solar or the Company), an Arizona-based solar energy company. The SEC determined that Lawrence D. Polizzotto violated Section 13(a) of the Securities Exchange Act of 1934 and Regulation FD by informing certain analysts and investors ahead of the market that First Solar would likely not receive an important and much anticipated loan guarantee commitment of nearly $2 billion from the US Department of Energy (DOE). The day after those disclosures, the Company publicly disclosed this information in a press release, causing its stock price to dip six percent.

Please see full newsletter below for more information.

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Written by:

Published In:

CPO
SEC

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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