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.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.
Topics: Algorithmic Trading, Banks, CFPB, CFTC, Class Action, CPO, Derivatives, Disclosure Requirements, FDIC, Margin Requirements, No-Action Relief, Payroll Cards, Proposed Regulation, SEC, Shareholder Litigation, Shareholders, Subsidiaries
Published In: Civil Procedure Updates, Consumer Protection 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.
© Katten Muchin Rosenman LLP | Attorney Advertising