Corporate and Financial Weekly Digest - March 23, 2012


In this issue;

- Senate Passes Revised Version of JOBS Bill

- SEC Staff Issues Risk Alert on Municipal Securities Underwriting Practices

- ISDA Dodd-Frank Documentation Project

- CFTC Issues No-Action Letter to Provide Temporary and Conditional Relief for Large Trader Reporting

- Court Finds Exigent Circumstances Warrant Appointment of Receiver for an Insolvent, Closely Held Corporation

- Court Considers Whether Doctrine of Laches Bars Claims Arising Under Cancellable Contracts

- FDIC Threatens Bank Directors Who Copy Bank Records For Defense Purposes and "Reminds" Bank Counsel of Their Fiduciary Duty

- FDIC Issues Proposal Regarding Enforceability of Contracts For Systemically Important Financial Institutions

- FDIC Extends Comment Period On Stress Tests

- FDIC Proposes Changes to Large Bank Assessment Rule To Quell Discomfort Among Large Banks

An excerpt from " FDIC Extends Comment Period On Stress Tests"

On March 21, the Federal Deposit Insurance Corporation (FDIC) extended until April 30, 2012, the comment period on a proposal to implement the requirements in Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act to require state, non-member banks and savings associations with more than $10 billion in consolidated assets to conduct annual stress tests.

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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