In this issue:
- PCAOB Adopts New Auditing Standard relating to Communications Between Auditors and Audit Committees, Subject to SEC Approval
- FINRA Rule Change Relating to Private Placements of Securities
- CFTC Staff Issues Guidance on Timing of Swap Dealer Registration Rules
- CFTC Seeks Comments on ICE Clear Europe Petition
- District Court Rejects SEC Argument that General Partnership Interests in Joint Ventures Are Securities
- District Court Rejects Claim of Presumptive Lead Plaintiff’s Inadequacy in Securities Class Action
- FDIC Releases Participation Guidance
- FSA Consults on Rules Changes Linked to Handover to PRA and FCA
- European Commission Proposes Single Supervisor for Eurozone Banks
- ESMA Publishes Short Selling Regulation Q&A
An excerpt from "FDIC Releases Participation Guidance"
On September 12, the Federal Deposit Insurance Corporation (FDIC) released a financial institution advisory letter related to effective credit risk management practices for purchased loan participations (Advisory). The Advisory applies to all FDIC-supervised banks and savings associations, including community institutions.
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