Corporate and Financial Weekly Digest - March 19, 2010

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In this issue:

*SEC/CORPORATE

..SEC Issues Staff Legal Bulletin Regarding the Suspension of Reporting Obligations Pursuant to Rule 12h-3

..SEC Issues New Interpretations on Executive Compensation and Compensation Consultant Reporting

*LITIGATION

..Second Circuit Addresses “Bespeaks Caution” Doctrine

..Veil Piercing Allegations Insufficient to Impose Liability on Non-Party to Insurance Policy; Court Vacates Attachment of Electronic Fund Transfers

*BROKER DEALER

..Federal Regulators Jointly Issue Policy Statement Regarding AML

*PRIVATE INVESTMENT FUNDS

..Financial Regulatory Reform Bill Includes Revised Private Fund Investment Advisers Registration Act of 2010

*FINANCIAL MARKETS

..SEC Extends Temporary Exemptions Related to Central Clearing of CDS

..Revised OTC Clearing Proposals Included in Senate Financial Reform Bill

*CFTC

..NFA Sets Effective Date for New Quarterly Reporting Requirement for CPOs

..DCIO Grants No-Action Relief Permitting Introduction of Customers by Non-U.S. Bank Branches

*BANKING

Federal Banking Agencies Issue Final Policy Statement on Funding and Liquidity Risk Management

..Senator Dodd Releases Financial Regulatory Reform Bill

*EXECUTIVE COMPENSATION AND ERISA

..COBRA Subsidy Changes Continue

..Inattention to COBRA Could Lead to Excise Taxes

*UK DEVELOPMENTS

..FSA Bans Prop Trader for Mismarking Positions

..FSA Publishes its 2010-11 Business Plan

..UK Government Consults on Security Interests Registration Regime

..Scope of UK Bank Payroll Tax Clarified

*EU DEVELOPMENTS

..Presidency Withdraws AIFM Directive Compromise Draft

Please see full digest below for more information.

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Published In: Business Organization Updates, Finance & Banking Updates, International Trade Updates, Labor & Employment 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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