Corporate and Financial Weekly Digest - October 12, 2012


In this issue:

- Division of Corporation Finance Updates Financial Reporting Manual

- SEC National Exam Program Initiative to Conduct Exams of Newly Registered Investment Advisers

- NFA Adopts Requirements for FCMs, IBs, CPOs and CTAs Dealing in Swaps

- NFA Provides Relief from Proficiency Exam Requirements for Certain CPOs, CTAs and Other Swaps Firms

- CFTC Issues Guidance on Swap Data Reporting

- Court Grants Preliminary Injunction in Case Involving General Partnership Interests

- Court Finds Plaintiff’s New Evidence Insufficient to Satisfy PSLRA Pleading Requirements

- FDIC, OCC and the Federal Reserve Approve Final Rules Regarding Large Bank Stress Tests and FDIC Issues Separate Rule on Large Bank Assessment Pricing

- Financial Services and Markets Act 2000 (Short Selling) Regulations 2012

- ESMA Publishes Updated Short Selling Regulation Questions and Answers

An excerpt from "Financial Services and Markets Act 2000 (Short Selling) Regulations 2012"

On October 9, the Financial Services and Markets Act 2000 (Short Selling) Regulations 2012 (the Regulations) were published. The Regulations relate to the EU Regulation on Short Selling and Certain Aspects of Credit Default Swaps (the Short Selling Regulation). The Regulations repeal certain UK statutory and regulatory provisions which are inconsistent with the Short Selling Regulation, designate the UK Financial Services Authority (FSA) as the UK’s competent authority under the Short Selling Regulation, and provide the FSA with specific powers of enforcement and investigation as well as other administrative powers with respect to matters within the scope of the Short Selling Regulation.

Please see full newsletter below for more information.

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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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