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 publication below for more information.