Corporate and Financial Weekly Digest - July 27, 2012


In this issue:

- Bipartisan Bill Introduced in U.S. Senate to Authorize SEC to Impose Larger Penalties

- CFTC Designates Provider of Legal Entity Identifiers

- CFTC Proposes Clearing Determination for Credit Default and Interest Rate Swaps

- CFTC Approves Swap Transaction Compliance and Implementation Schedule Rule

- CFTC Withdraws and Re-Issues Proposed Ownership and Control Reports Rule

- CFTC Requests Public Comment on LCH.Clearnet SA Derivatives Clearing Organization Application

- CFTC Issues Temporary No-Action Relief from Aggregation Requirements of Position Limits Rule

- SEC Enters Into Deferred Prosecution Agreement with Investment Fund

- Delaware Chancery Court Holds That Former Employees Are Not Indispensible Parties to Litigation

- FDIC Develops Regulatory Calendar

- FDIC Announces Nashville, TN and Dallas, TX Asset Purchaser/Investor Outreach Workshops

- Federal Reserve Issues Guidance on a Lender's Decision to Discontinue Foreclosure

- FSA Consults on Further Client Money Proposals

- Italian and Spanish Regulators Introduce Short Selling Bans

- ESMA Publishes Guidelines on ETFs and Other UCITS Issues and a Consultation Paper on Repurchase Agreements

An excerpt from "Federal Reserve Issues Guidance on a Lender's Decision to Discontinue Foreclosure"

On July 11, the Board of Governors of the Federal Reserve System (Board) issued guidance to emphasize the importance of appropriate risk management practices and controls in connection with a decision not to complete foreclosure proceedings after they have been initiated (a situation referred to in the guidance as an abandoned foreclosure). This guidance applies to state member banks, bank holding companies and savings and loan holding companies (collectively, banking organizations) with residential mortgage servicing operations.

Please see full newsletter below for more information.

LOADING PDF: If there are any problems, click here to download the file.

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

Written by:


Katten Muchin Rosenman LLP on:

Popular Topics
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.