Financial Services Legislative and Regulatory Update -- June 24‚ 2013

In This Issue:

Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings.

Excerpt from Leading the Past Week -

Despite some concerns about the slowing growth in China, some observers were relieved that last week’s market sell-off was, for the most part based on the relatively good news that accompanied Federal Reserve Board Chairman Ben Bernanke’s comments that if the economy were to continue to improve the Fed would consider drawing down its highly accommodative monetary policy in the next year . Other factors being considered responsible for the sell-off included whether President Obama ‘fired’ Bernanke in an interview with Charlie Rose. However, we think the “real” reason behind the sell-off was that the release of Treasury Secretary Jack Lew’s revised signature roiled the market because it was hard to believe anything that illegible could have the full faith and credit of the United States.

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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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