In this issue:

- US DEVELOPMENTS

- Securities and Exchange Commission (“SEC”) Developments

- Noteworthy US Securities Law Litigation

- Recent SEC/DOJ Enforcement Matters

- EU DEVELOPMENTS

- European Securities and Markets Authority (“ESMA”) Publishes an Update of the Committee of European Securities Regulators (“CESR”) Recommendations Regarding Mineral Companies

- Revised ESMA Framework for Third Country Prospectuses

- ESMA Publishes Feedback Statement on the Role of the Proxy Advisory Industry

- European Commission Publishes an Indicative Roadmap for its Revision of Shareholders’ Rights Directive

- European Commission Publishes an Indicative Roadmap for Enhancing the EU Corporate Governance Framework

- European Parliament Publishes Report on Corporate Social Responsibility (“CSR”): Promoting Society’s Interests and a Route to Sustainable and Inclusive Recovery

- ESMA Publishes Consultation Paper on Draft Regulatory Technical Standards on Specific Situations that Require the Publication of a Supplement to the Prospectus

- Commission Legislative Proposals on Anti-money Laundering

- UK DEVELOPMENTS

- FSA Fines Prudential and Censures CEO for Failing to Inform Regulator of 2010 Acquisition Plans

- London Stock Exchange (“LSE”) Publishes Final Draft Rulebook

- The Department for Business Innovation & Skills (“BIS”) Publishes its Second Consultation on Revised Directors’ Remuneration Reporting Regulations

- Financial Reporting Lab Publishes a Report on Scenario and Performance Charts

- BIS Publishes Frequently Asked Questions on Directors’ Remuneration Reforms

- National Association of Pension Funds (“NAPF”) Writes to FTSE 350 Urging Executive Pay Restraint and Reform

- PIRC Publishes its UK Shareholder Voting Guidelines 2013

- Executive Remuneration Principles Published by Pension Investment Bodies

- Institute of Chartered Secretaries and Administrators (“ICSA”) Publishes Guidance on Enhancing Dialogue Between Companies and Investors

- Trade Unions Publish Voting and Engagement Guidelines

- Share Buybacks Draft Regulations Published

- Financial Reporting Council (“FRC”) Consults on Implementing Sharman Panel Recommendations

- ICSA Publishes Guidance on Liability of Non-Executive Directors

- UK Listing Authority Publishes Fifth Primary Market Bulletin

- Law Commission Announces Review of Fiduciary Duties of Investment Intermediaries

- Guidelines Monitoring Group Publishes Updated Guidelines for Good Practice Reporting by Portfolio Companies

- DEVELOPMENTS SPECIFIC TO FINANCIAL INSTITUTIONS

- EU Developments

- UK Developments

- Global Developments

- Excerpt from: Securities and Exchange Commission (“SEC”)

Developments In this section, we are covering developments relating to the implementation of provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Reform Act”) and the Jumpstart Our Business Startups Act (“JOBS Act”) through SEC rulemaking as well as other SEC developments.